Munich Re
Claim Specialist Sr.
Munich Re, Princeton, New Jersey, us, 08543
We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.
The Company
Munich Re US (MR US) offers the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.
The Opportunity
Future focused and always one step ahead
The purpose of this position is to administer MRUS' right and duties under its contracts with clients; determine proper reserve needs, and control loss exposures, while providing excellent claim services to clients. Job responsibilities may also include training and aiding in the supervision of consultants in administering their duties.
Responsibilities:
Appraise and determine the applicability of the subject contracts to loss reports. Obtain and digest loss information for accurate and timely reserving. Investigate, evaluate (reserve rights), and negotiate coverage issues with client company as may be required under the subject contract and authorized by division management. Confirm accuracy of billings and cash calls and direct prompt payments. Manage complex accounts, severe losses, settlement negotiations, and trial developments. Lead claim reviews at client companies and pre-quote reviews at prospective client companies. Initiate intra and inter-divisional communication regarding present and prospective clients through prescribed company reporting and database requirements. Assist in the development of claims account management plan for major client companies incorporating technology tools in the analysis. Control special projects authorized by Manager. Qualifications:
10+ years' experience handling (re) insurance claims preferred Experience with Marine, Inland Marine and/or Cyber claims a plus Bachelor's degree in related field or equivalent work experience required; advanced degree or industry designations and/or certifications preferred Extensive understanding of insurance and reinsurance coverages, contract interpretation, loss reserving, loss report management, litigation management and account relationship management. Ability to exercise superb and decisive independent judgment. Strong organizational skills, time management, and business acumen Strong interpersonal skills plus customer-service and relationship oriented. Excellent verbal and writing skills for internal and external communication, presentations, and reporting. Superior analytical thinking, advocacy, and negotiation skills. Strong computer skills and application of MS Office Suite. Willingness to travel in comprehensive service of clients' and the company needs. (25-35%)
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#LI-MB1
The Company
Munich Re US (MR US) offers the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.
The Opportunity
Future focused and always one step ahead
The purpose of this position is to administer MRUS' right and duties under its contracts with clients; determine proper reserve needs, and control loss exposures, while providing excellent claim services to clients. Job responsibilities may also include training and aiding in the supervision of consultants in administering their duties.
Responsibilities:
Appraise and determine the applicability of the subject contracts to loss reports. Obtain and digest loss information for accurate and timely reserving. Investigate, evaluate (reserve rights), and negotiate coverage issues with client company as may be required under the subject contract and authorized by division management. Confirm accuracy of billings and cash calls and direct prompt payments. Manage complex accounts, severe losses, settlement negotiations, and trial developments. Lead claim reviews at client companies and pre-quote reviews at prospective client companies. Initiate intra and inter-divisional communication regarding present and prospective clients through prescribed company reporting and database requirements. Assist in the development of claims account management plan for major client companies incorporating technology tools in the analysis. Control special projects authorized by Manager. Qualifications:
10+ years' experience handling (re) insurance claims preferred Experience with Marine, Inland Marine and/or Cyber claims a plus Bachelor's degree in related field or equivalent work experience required; advanced degree or industry designations and/or certifications preferred Extensive understanding of insurance and reinsurance coverages, contract interpretation, loss reserving, loss report management, litigation management and account relationship management. Ability to exercise superb and decisive independent judgment. Strong organizational skills, time management, and business acumen Strong interpersonal skills plus customer-service and relationship oriented. Excellent verbal and writing skills for internal and external communication, presentations, and reporting. Superior analytical thinking, advocacy, and negotiation skills. Strong computer skills and application of MS Office Suite. Willingness to travel in comprehensive service of clients' and the company needs. (25-35%)
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#LI-MB1