Reinsurance Claims Lead (NY) - Axis Capital Holdings
New York, NY
About the Job
This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.
At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
Reinsurance Claim LeadJob Description
Job Family Grouping: Reinsurance Claims
Job Family:Claims
TheReinsuranceClaims Leadis a key contributor to the reinsurance team at AXIS.
Working in a globalized customer focused, professionalreinsuranceclaims organization, you willsupportsthe department goals of managing,maintainingand retaining a department of the highest quality claim professionalswhoprovidebest in classinternal and external client servicingthrough efficient and effective claims handling and quality customer service.
How does this rolecontribute to our collective success?
The lead reinsurance claims professional is diligent in reviewing reinsurance claims against our treaties to protect the assets of AXIS and ensure we are paying all claims properly presented quickly while mindful of
What will you do in this role?
As a LeadReinsuranceClaims professional you will:
Manageadiverse and interestingportfolio of reinsurance claims forvarious lines of businessincluding:Professional Liability,Casualty, Marineand Surety.
Proactivelymanage claims fromnotification through closure, investing the necessary level ofinvestigationrequiredfor eachclaim,depending on the nature andvalue of it.
Review larger and more complex claimsagainst the governing reinsurance treatytodeterminethe nature of loss, coverage, andidentifywhen payment isdue.
Serve as a resource to otherclaimprofessionals andteam membersat AXISReon technical matters, coverage analysis, emerging trends, and other claims related matters.
Participate in professional associations/professional development activitiesto gainexpertise, industry informationand insights, and to network.
Autonomously negotiate and resolve claims directly with cedents or brokers.
Triage your work and collaborate with other team members, including technical accounting tofacilitatethe payment ofvalidclaims accurately and promptly
Conduct claim audits forassignedaccountsandclients.
May travel to meet with cedents and brokers for audits and claimsdiscussionsfrom time to time.
Collaboratewith AXISRe colleaguesin underwriting, account management, and actuarialbysharing pertinent loss developmentand trend developmentinformationin a timely manner.
Build strategic relationships in the industrytosupportbest in class reinsuranceclaims handling.
Interact with colleagues across the organizationto support strategic initiatives.
Identifydevelopingtrends and anomalies inthe assignedbook of claims and recommendappropriatestrategieswhichcouldinclude:changes to procedures, cost containment strategies,client education presentations,etc.
Identifyprocess improvements to be reviewed and approved by more senior management.
Engage in department wide initiatives, discussionsandprepare presentationsfor clients or colleagues from time to time
You may alsobe requiredto take onadditionalduties, responsibilities and activities appropriate to the nature of this role.
About You:
We encourageyouto bringyourown experience andexpertiseto the table, so while there are some qualifications and experiences, we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.
What you need to have:
A firm understanding of insurance and reinsurance terminology,including familiarity withvariouslinesof business insurance coverageandreinsurance treatytypes.
The ability toindependently evaluatecomplex insurance claimexposures for proper reservingunder areinsurance program.
An understanding ofcommonreinsurance contract terms and conditions, including business covered,commonexclusions, aggregate limits, occurrence limits, treaty limits, retentions,how to applyannual aggregate deductibles, clash exposures, claims made cover, etc. and the impact of the contract terms to each claim and to the account as a whole
Working knowledge of legal processes and laws applicable to thevariouslines of business handled in the unit. Ability to recognize potential legal issues or conflictsindiffering jurisdictions.
Basic knowledge ofhow to investigate a reinsurance claim andwhere to gain more information as needed. Understanding ofthebasics of the insurancearbitration/ mediationprocess and structured settlements
An awareness of emerging risks, market conditions and other movements that may materiallyimpacta line of business or an account; broad knowledge base of specific informationrelating to all business underwritten in the supported business unit
Ability to assess the reliability, credibility and overall completeness of the claims information provided and analyse claims (liability, damages, and reserves). Ability to integrate both the abstract and concrete elements of a claim for a proper evaluation. Acts as a strategic thinker.
Experience working at an insurance carrier, reinsurance broker or reinsurer
A bachelor’s degree or equivalent work experience
Whatwe prefer you tohave:
A law degree
Experience in insurance or reinsurance contract interpretation and dispute management.
Prior experience as a reinsurance claims analyst.
Role Factors:
In this role, you will typicallybe requiredto:
Travel tocedents and broker meetings in North Americabetween2-10 times a year
Be in the office 3 days per week
What we offer:
For this position, we currently expect to offer a base salary in the range of$150,000 to $185,000 USD(NY),Yoursalary offer will be based on an assessment of a variety of factors includingyour specificexperience and work location.
In addition,you will be offered competitive target incentive compensation, with awards based on overall corporate and individual performance. On top of this,you will be eligible fora comprehensive and competitive benefits package which includes medical plans foryou and your family, health and wellness programs, retirement plans, tuition reimbursement, paid vacation, and much more.
Where this role is based in the United States of America, this role isExemptfor FLSA purposes.
