Head of Claims

Job description / Role

Coordinates managing new business underwriting.
- Ensures full information/data accuracy of initial Standard Risk Review and Statistics Sheets, and if necessary, completes necessary details as per assigned approved offer policy limits and authority level, in adherence to underwriting guidelines and Insurance protections, using existing modeling, pricing tools and methods.
- Reviews all Offer Summaries; makes quotation or counter proposals (if necessary) prior to sign as 1st level acceptance or decline as per assigned approved offer policy limits and authority level before submitting for counter-signature.
- For offers above approved authority level, reviews accuracy of Offer Summary, adds additional recommendations (if necessary), and provides 1st level signature prior to submission for counter-signature.
- As per assigned approved authority level, reviews for complete accuracy of final Offer Slip and Wording documents prior to signing as 1st or 2nd level signatory, or refers to higher authority level highlighting changes/discrepancies in Final Slip Summary.
- Supervises accuracy of DMS files and Oracle Data entries
- Ensures aggregate exposure entries and approved limit’s accuracy.
- Reports to department management any positive or negative effects of all market developments and proposes strategies to example the potential or diminish costs.
- Conducts Portfolio, capacity and profitability analysis

Existing Business/Renewals Underwriting.
- Reviews all Endorsement Standard Risk Review and Statistics Sheets within and below approved per existing offer policy limits and authority level with emphasis on technical results and premium settlement aspects and makes
- proposals (if necessary) prior to signing as 1st level acceptance or decline before submitting for counter-signature.
- Ensures accuracy and provision of pre-renewal portfolio/capacity and profitability statistics (and monitors continuous updates) per region/country/cedant/clients/risk to ensure evaluations are within Insurance protection practices and conducts portfolio, capacity, and profitability analyses.
- Ensures accurate Renewal Review & Statistics Sheets and Renewal Summary that are within or below approved offer policy limits and authority level to ensure renewal details adhere to underwriting guidelines and Insurance protections and provide 1st or 2nd signature for acceptance or decline the renewal.
- For renewals above authority level, reviews Renewal Summary, observations and suggestions and makes additional recommendations if necessary prior to submission of file to seniors for acceptance or decline.
- Ensures accuracy of Signed Lines Report for renewal acceptances submitted to U/W.
- Within assigned approved offer policy limits and authority level reviews Endorsement Summary from assigned distributed geographical and provides 1st level signature and submits for counter-signature.
- For endorsements above authority limit/level, studies/analyzes endorsements within assigned approved authority level and distributed geographical area against original offer, completes and signs Endorsement Summary and submits to higher authority.
- After reviews of Outstanding Status Report, proposes solutions to Finance to obtain outstanding from cedents/brokers.
- Proposes a formal plan for collection of outstanding accounts and settlement receipts with Market Unit leaders and department management.
- Studies, within authorized class of business, Retro renewals and provides an analytical report for department management.

Market Research/Intelligence/Analysis and Marketing.
- Acts as the primary point of contact for direct and/or brokered Insurance markets (specific producer accounts and its agency personnel).
- Reviews accuracy of complex business and statistical data produced on each cedent/ broker as per designated market area, and amends/proposes necessary changes/ modifications and integrate into Divisional database
- Analyze developing exposures and market trends.
- Checks and validates market data for new markets, products, and or segments and works with the Business Development & Risk Departments to identify new production opportunities and track competitor activity.
- Stays abreast of information on insurance laws, regulations and cedents’/clients’ importance and standings in their markets.
- Participates in the development of LOB and Product strategies by providing analysis and recommendations.
- Continuous cross-marketing of new business opportunities through existing and new lines of business within the Marketing Unit territory.
- Studies actuarial tables which provide statistical probabilities and prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.
- Prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.

Production/Market Reporting.
- Assists in gathering necessary statistical information through visit reports, team briefings and market updates, and communicates information to underwriting personnel.
- Reviews statistics/information accuracy for monthly/quarterly production, CBB, A.M. Best & S&P reports.
- Supports preparation or prepares various management reports and Labuan reports.
- Provides complex raw data and assists in departmental Business Plan preparation.
- Works with Underwriter to identify new production opportunities and stays current regarding competitors.
- Coordinate and oversees regular and periodic underwriting review and audits in line with internal audit

Managerial/Leadership Role.
- Demonstrates expert technical, professional, or job-related knowledge and skills required to guide effectively and provides hands-on training to team members of the section/ department when required.
- Expert understanding of the functionality of and capability in using underwriting systems (automated and manual) and ensures utilization of these systems by juniors.
- Adopts a range of management styles to get the best out of individuals, with sharing credit for good ideas or accomplishments, takes opportunities to delegate activities to develop their skills and knowledge, and the necessary authority for problem solving and decision making.
- Controls sections’ workload activities for maximization of section members’ time and resource usage, and provides guidance on section and departmental work-related aspects.
- Clearly communicates departmental expectation of team members to each team member, directs prioritization of departmental requirements to ensure target achievement, ensures solid information management for team focus and target achievement.
- Contributes extensively to development of departmental/sectional goals in line with business plan, and ensures achievement through establishment of a solid action plan.
- Support establishing and monitoring of individual performance management goals, and monitors team achievement progress with appropriate feedback on technical and non-technical work matters.
- Submits monthly sectional operational productivity reports to management with improvement or resolution recommendations to department management.
- Manages department/cross functional process inefficiencies through providing timely information about products, underwriting process and compliance requirements along with recommendations to ensure capable human resources and controls and for process improvements.
- Coaches and/or mentors staff on business issues (market conditions, competitors, relationship management, important developments in exposure, compliance or underwriting process, etc.).
- Ensures 100% development and implementation of departmental policies and standard operating procedures (SOPs), conducts periodic reviews and recommends necessary changes.
- Maintains a learning environment with monitoring sectional individual staff T&D plans for improvement progress
- Contributes to compilation of department budgeting and business planning.
- Plans closely with senior management staff recruitment, promotions, and re-deployment within the section anticipating short and long-term human capital requirements and establishment a departmental succession plan.
- Demonstrates solid technical and non-technical interviewing skills for appropriate sectional staff selection.
- Ensures good communication within the department, and addresses queries or concerns in a positive and sensitive way.
- Demonstrates good communication skills - the ability to listen, to articulate ideas, to convey departmental plans clearly to their team in the most appropriate manner, using the most effective language.
- Directs others to ensure that high quality results/relationships are developed and maintained with customers and client/brokers within their part of the business.
- Inspires colleagues to believe in the organization’s mission and values, and adopt a ‘can do’ attitude with support of others through the confidence they instill that difficult goals can be achieved.
- Manages and deals with performance issues in a timely and constructively manner.

Requirements

- Min 15 years of experience in Insurance Markets and Claims practices.
- Bachelor's degree in relevant fields. Master's is an added advantage.
- Excellent Communication skills in English both written and verbal.
- Leadership qualities
- Interpersonal Skills

About the Company

Human Capital House was set up in the year 2013 with a vision to be a progressive talent acquisition partner for organizations within the local and regional market in the Middle East.

As international markets get ever demanding, corporations globally are presented with the challenges of attracting the right talent. Human capital retention and recruitment remain a critical factor to the success of any company. Strategic decision to recruit the right talent is a key issue to organization as wrong candidate selection can potentially be disastrous to their efficiency.

The critical aspect of choosing the right individual with the apt experience and knowledge becomes more crucial as he/she would need to share the ambitions of the employer, while fitting in to the new culture. Human Capital House has both the experience and expertise to help its clients make the right choice of selection. From understanding client requirements, through identifying and assessing the candidates, our systematic approach strives to ensure successful executive recruitment.