The Senior Vice President, Claims is responsible for the overall management and direction of the claims department. Equally as important, participation on the Executive Team that establishes the strategic direction for the company and ensures the overall profitability and success of the company in the public entity market.
Claims are handled by the insured through self-administration or the insured hires a TPA. The BPE claims team provides oversight, consultation, and influence management in the claims process and will sometimes take over handling of the claim if the limits are tendered to us. The claims department is also responsible for establishing reserves.
Overall Management of Claims Operation
- Manage a growing team of claims professionals by establishing clear performance metrics
- Implement strong policies and procedures designed to produce the desired results
- Ensure the continual development of claims professionals on the team by coordinating both internal and external training and development opportunities
- Establish clear reserving standards and ensure that those standards are continually met
- Identify issues and trends in the portfolio; take appropriate and/or corrective action where necessary; communicate trends to underwriters, insureds and brokers
- Identify claims with significant exposure and take a more active role coordinating a strategy for an appropriate resolution
- Oversee audits of TPA’s and insureds to evaluate claims management processes and procedures and reserve strength
- Attend industry conventions and events and become a sought out thought leader on developing issues
- Attend marketing, account renewal, and reinsurance meetings as appropriate in order to communicate our claims handling philosophy and leading position in this area
Relationship Building / Teamwork
- Establish and maintain strong relationships with insureds and TPA’s in order to effect positive influence management over claims handling
- Establish strong and collaborative relationships with external brokers in order the enhance the market reputation of BPE and maximize the competitive advantage derived from claims handling
- Communicate effectively with parent company on significant and complex claims
- Collaborate effectively with Operations team to ensure efficient and effective procedures in the claims area
- Establish and maintain strong relationships with underwriting team in order to provide insight and guidance on the claims handling practices of individual current and prospective insureds
- Communicate effectively with the actuarial team around trends in the portfolio and long-term prospects for individual claims / insureds
- Work effectively with the underwriting team and other executives on current and proposed policy language
- Identify and develop external expertise in certain types of claims such as jails, police activity, etc.
Member of Executive Team
- Proactive participation on Executive Team which establishes and executes the strategic direction of the company
- Work closely with the CEO to discuss, evaluate, and implement strategic directions for the claims operation that supports the overall direction of the company
- Establish solid relationships with other members of the Executive Team in order to improve team performance
- Be able to clearly communicate strategic direction to both internal resources and outside partners and insureds
The Claims Director is responsible for the review, oversight and specific handling of General, Automobile, and Professional Liability claims including Law Enforcement and Sexual Abuse involving schools, municipalities, other public entities. All accounts are written excess of an SIR layer and underlying claims are handled by the insured or their selected TPA until reaching the BPE layer. You'll communicate with insureds, brokers and TPA’s to secure additional claim information, communicate loss information, and monitor Self Insured Retentions and determine the extent of exposure to the insured and the company. Additionally, this role will monitor trends within the portfolio and individual accounts to contribute to the overall success of the company as well as for business development with marketing and renewal events differentiating the BPE claims process within the marketplace.
The team's culture is highly collegial while still providing you the autonomy to be nimble and impactful where you can make decisions and stand by them. You'll report to the AVP of Claims and be key member of a small but highly skilled team of claims professionals. You'll have lots of visibility across the organization - underwriting, marketing, and senior management. You'll be encouraged to share your insights and recommendations when creating resolution plans/strategies or negotiating settlements. We'll trust you to identify and raise issues within the portfolio to take a proactive action. To be successful, you'll need excellent organizational skills, integrity, and great follow-through on tasks. You'll need to be comfortable challenging norms while working collaboratively with colleagues at all levels of the organization.
What you can expect:
- Internal mobility opportunities – be a key person in our succession plan
- Visibility to senior leaders and partnership with cross functional teams
- Culture of innovation, teamwork, supportive colleagues and leaders willing to invest in talent
- Opportunity to lead change
- Benefits – competitive salary, paid time off, comprehensive wellness benefits and programs, employer funded health savings account, profit sharing, 401k, paid parental leave, employee stock purchase plan, tuition assistance and professional continuing education
We'll count on you for:
- Coverage Issues
- Identify and evaluate coverage issues preparing comprehensive coverage letters and analysis
- Evaluate information on coverage, liability, and damages to resolve claims on reasonable terms and at an appropriate value
- Relationship Management
- Provide outstanding customer service and works well with the insured, broker and TPA in the adjustment of losses
- Respond to internal and external requests for information from management, underwriters, business partners etc.
- Prepare timely and accurate reports to management regarding significant claim developments
- Lead and participate in audits of TPA’s to ensure adherence to BPE claims guidelines
- Litigation Strategy
- Retain, direct and manage litigation counsel through trial; developing and managing strategy for complex litigation and reviewing legal bills; attend arbitrations, mediations, trials and conferences as necessary
- Present litigation strategy for complex litigation to senior claims management and underwriting staff
- Identify and evaluate risk transfer opportunities pursuant to contracts, lease agreements, certificates of insurance
- Set reserves within authority or makes claim recommendations concerning reserve changes to supervisor
- Ensure large loss and exposure reporting requirements are met referring claims to BPE management and/or WR Berkley management as necessary