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Complex Claims Analyst-Financial Lines
effective litigation management, make strategic recommendations to management for all claims above the claim handler's autonomy, negotiate cost effective resolutions of complex and standard Employment Practices Liability, Fiduciary Liability, and Management Liability claims and effectively resist claims with no merit. ~crlf~Ensure claims are handled in line with AGCS claims standards, procedures and~crlf~guidelines. Develop and maintain strong working relationships with insureds, brokers, vendors and internal partners.~crlf~Provide Underwriting colleagues with trend insights on claims, coverage developments and legislative and regulatory activity that would affect the portfolio.
##Evaluation of Facts and Coverage - Within the first 30 days from receipt of assignment and continuing through factual Discovery process, obtain all salient facts through communication with the Insured and defense counsel, and evaluate the applicability of the insurance policy to the factual allegations within the plaintiff's complaint.~crlf~##Preparation & Communication of Coverage Position - Prepare a clearly constructed position letter that explains how the extent of the applicability of the appropriate insurance policy. The position letter must cite applicable provisions of the insurance policy and how they apply to the factual allegations and/or other facts obtained by the claim handler, it must also contain the agreed upon defense arrangements including approved defense law firm, attorneys, fee arrangements and any cost and or coverage allocation that is proposed and/or agreed upon by the Insured and the claim handler. Provide an advance copy of the position letter to our Underwriting colleagues and to the broker and discuss the coverage position with the customer.~crlf~##Establish and Manage Reserves - Establish case reserves for indemnity and expense pursuant to the North America Claim Handling Guidelines. Reserve should reflect the reasonable probable outcome based upon information available at the time the reserves are established. Reserves should be re-evaluated for appropriateness in the event of any material litigation developments and as prescribed by the Claim Handling Guidelines. ~crlf~## Litigation Management Strategy & Budget - Reach agreement with defense counsel and Insured on a Litigation Defense Budget and re-evaluate adequacy at each phase of litigation and the cost-benefit economics of cost of defense versus resolution. Review defense expense invoices to ensure they are in compliance with the agreed upon budget, and prepare/approve payments to defense counsel as appropriate.~crlf~##Claim Resolution & Documentation - Provide /discuss settlement strategy options with claims management . Participate at settlement mediations to advance the agreed upon strategies for resolution. Document the claim file upon all material claim developments and document reserve and settlement considerations.~crlf~##Market Facing - Maintain a close working relationship with the customer's decision maker ( Eg General Counsel), and the broker to ensure a positive customer experience and to address any potential issues appropriately. Keep Underwriting colleagues informed of any material developments. ~crlf~~crlf~
##Preferably a degree in Law, or other appropriate discipline~crlf~##Preferably completion of professional insurance qualification.~crlf~##Minimum 5 to 7 years: Specialized understanding of line of business products and portfolio with technical~crlf~specialist knowledge. Management of systems (e.g. Genius)~crlf~##Minimum 5 to 7 years: Specialized understanding of regional / local insurance markets and competitor~crlf~landscape~crlf~##Minimum 5 to 7 years: Recognized relationship building with brokers at peer group level~crlf~##Minimum 5 to 7 years: Good understanding of legal and regulatory framework~crlf~##Minimum 5 to 7 years: Experience in working in complex, global matrix organization~crlf~##Products and Coverages: understanding in relevant products, wordings, terms and conditions and~crlf~coverages~crlf~##Claims Handling: knowledge of claims handling process from notification to settlement and recovery~crlf~##Reserving, reinsurance and coinsurance: knowledge of reserving principles and practices; robust~crlf~understanding of other insurance and risk transfer application.~crlf~##Litigation: understanding of relevant legal processes and procedures, litigation management, litigation~crlf~avoidance techniques (e.g. mediation). Seasoned litigation manager, effective in timely setting and~crlf~reviewing strategy to obtain optimal timely resolutions.~crlf~##Advanced: Communication skills: Clearly and effectively express ideas and messages via speech or writing~crlf~##Advanced: Negotiation and conflict management: Ability to negotiate best position for AGCS, and client,~crlf~often in contentious situations, managing conflicting priorities of various parties~crlf~##Expert: Analytical Skills: Ability to effectively absorb information from various sources, then analyze, study~crlf~or examine data in detail, and draw appropriate conclusions~crlf~~crlf~
Allianz is the home for those who dare – a supportive place where you can take the initiative to grow and to actively strengthen our global leadership position. By truly caring about people – both its 100 million private and corporate customers and more than 147,000 employees – Allianz fosters a culture where its employees are empowered to collaborate, perform, embrace trends and challenge the industry. Our main ambition is to be our customers’ trusted partner, instilling them with the confidence to grow. If you dare, join us at Allianz Group.~crlf~~crlf~We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.~crlf~Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
Worldwide, AGCS operates with its own teams in 32 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,300 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.~crlf~For more information, visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance and LinkedIn.~crlf~~crlf~
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