About the position
The Cyber Claims Manager at Beazley Group is a pivotal role aimed at achieving the company's vision of being the highest performing specialist insurer. This position involves the proactive management of claims at both individual and portfolio levels, ensuring optimal spending and high satisfaction levels for insured clients and brokers through exceptional claim management and resolution. The manager will oversee individual claims from notification to closure, tailoring their involvement based on the claim's nature, category, maturity, type, and quantum. This includes managing a portfolio of significant claims, particularly those exceeding $250,000, while adhering to Beazley's Claims Reserving Philosophy and Standards. In addition to individual claims leadership, the Cyber Claims Manager will be responsible for claims portfolio management, which includes regular reviews of claims, maintaining accurate reserves and records, and identifying trends or issues within the portfolio. The role requires effective communication with Reinsurance and Finance regarding material claims and collaboration with Reinsurance to facilitate claims recoveries. The manager will also contribute to strategic business planning by aligning with the overall objectives of the Beazley claims function and identifying opportunities for improvement. The position necessitates a strong partnership with underwriters, where the manager will provide insights into claims handling and contribute to business development efforts. This includes attending client meetings to discuss claims philosophy and handling approaches, as well as providing feedback on claims trends and their potential impact on the business. The Cyber Claims Manager must operate within approved claims authorities, ensuring compliance with industry regulations and Beazley’s standards. Furthermore, the role involves managing relationships with third-party professionals, ensuring their performance aligns with Beazley’s claims service requirements. The manager will also work to foster strong relationships with key brokers and insureds, promoting Beazley’s brand of excellence in client service. The position requires adherence to Beazley’s core values and policies, including those related to conflicts of interest and customer treatment. Overall, the Cyber Claims Manager plays a crucial role in driving the success of the claims function within Beazley, contributing to a culture of continuous improvement and excellence in service delivery.
Responsibilities
- Proactively manage individual claims from notification to closure, investing the necessary level of involvement required for each claim.
- Manage a portfolio of Category 2 and some Category 1 claims, including Coverage Litigation without allegations of bad faith.
- Adhere to Beazley's Claims Reserving Philosophy and Standards at all times.
- Develop, iterate, document, and execute claims strategies considering uncertainties, key decisions, potential outcomes, and estimated costs.
- Regularly review individual claims within the portfolio and maintain reserves and claims records as required by Beazley's standards.
- Identify issues and trends in the claims portfolio and take appropriate corrective action.
- Communicate material claims to Reinsurance and Finance as per claims authority and protocols.
- Work with Reinsurance to effect claims recoveries.
- Develop an understanding of marketing and underwriting strategies for the business area.
- Contribute to business development and renewal opportunities by attending client meetings and providing insights on claims handling.
- Provide input to underwriters on potential or existing insured's claims experience and suggest policy wording improvements.
- Operate within approved claims authorities and maintain knowledge of industry regulations and standards.
- Manage relationships with third-party professionals and conduct file reviews or audits as required.
- Develop and manage strong relations with key brokers and insureds, promoting Beazley’s brand of excellence.
- Adhere to Beazley’s Conflicts of Interest policy and resolve any potential conflicts promptly.
Requirements
- Graduate calibre education is required.
- Adjuster license(s) may be required and must be obtained within the first 90 days of employment if necessary.
- Legal training or past claims experience establishing liability and/or settlement resolutions is preferred.
- Functional knowledge of the claims management process and understanding of the US/RoW Insurance market is essential.
- Knowledge of the US/RoW legal and regulatory environment and alternative resolution approaches is necessary.
- Strong analytical skills including problem-solving, financial assessments of claims, and data analysis are required.
- Excellent work management skills including time and workload management, planning, and productivity focus are essential.
- Interpersonal skills to influence others and manage client and broker relationships effectively are necessary.
Nice-to-haves
- Experience in the insurance industry, particularly in claims management or underwriting roles.
- Familiarity with Beazley’s claims philosophy and approach to claims handling.
- Previous experience in developing and mentoring junior staff.
Benefits
- Health insurance coverage
- Dental insurance coverage
- 401k retirement savings plan
- Flexible scheduling options
- Professional development opportunities
- Paid holidays and vacation time
- Employee discount programs
- Wellness programs
- Tuition reimbursement for further education
- Life insurance coverage
