Share this Job

Complex Claims Analyst - Financial Lines

Job Level:  Professional
Location: 

Chicago, IL, US, 60606

Due Date:  As soon as possible
Area of Expertise:  Customer Services & Claims
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  5566

Role Purpose:

  • Complex Claims Analyst (Financial Lines):
  • Proactively investigate, evaluate, and negotiate high exposure Insurance Agents & Misc. E&O claims, involving complex issues and/or litigation
  • Ensure claims handled within authority limits, and in line with AGCS Claims Standards procedures and guidelines
  • Drive third-party service providers to achieve economical results and to provide a high quality service to all internal and external customers
  • Develop and maintain strong working relationships with brokers, clients and internal business partners.

 

Key Responsibilities:

 

Claims Processing & Administration:

  • Input and maintain accurate claims records for designated accounts, within appropriate AGC&S Claims administration systems
  • Manage timely production of management information reports (e.g. monthly major claims movements) and proactively identify loss trends.

Investigation & Reserving of Claims:

  • Investigate high exposure domestic and international claims that involve complex issues and/or litigation - requires qualified legal analysis
  • Evaluate and address coverage issues
  • Analyze facts and ensure timely and appropriate reserving levels.

Settlement:

  • Negotiate and resolve high exposure, complex claims ensuring cost effective, service orientated solutions;
  • Ensure unpursued claims are settled in accordance with settlement guidelines
  • Drive effective subrogation processes.

Referrals & Compliance:

  • Ensure all claims handled within authority limits, and in line with AGCS Claims complex procedures and guidelines; Refer cases outside of authority level, preparing referral documentation and materials as appropriate; Support establishment of claims management procedures on new business accounts in association with clients, brokers and loss adjusters; and Undertake audits of external service providers as appropriate.

Market Management:

  • Proactively support acquisition of new business and retention of existing business  (including client and broker negotiations where necessary);
  • Proactively liaise with MMC on market management initiatives
  • Attend industry functions.

Relationship Management:

  • Positively represent AGCS externally to the market; Proactively drive involvement of functional areas in Claims handling process, e.g. Underwriting, MMC, ARC, Operations; Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. third party adjusters); and Effectively report and present complex and contentious loss and claims information internally and externally.

 

Required Skills:

  • Bachelor Degree required and preferably a Law Degree or other appropriate discipline
  • 5-7 years of experience and a specialized understanding of Line of Business products and portfolio with technical specialist knowledge.
  • Specialized understanding of regional/local Line of Business markets and competitor landscape.
  • Recognized relationship building with brokers at peer group level.
  • Good understanding of legal and regulatory framework.
  • Prior experience or ability to work in complex, global matrix organization.
  • Expertise in relevant products, wordings, terms and conditions and coverages
  • Knowledge of claims handling process from notification to settlement and recovery
  • Understand  reserving principles and other insurance and risk transfer application
  • Understand legal processes; litigation management/avoidance; and effective strategy for optimal resolution.
  • Monitor legal and legislative developments relevant to Line of Business.

 

Compensation is commensurate with skills and experience and includes a comprehensive best in class benefits package.  Any salary or benefits information provided by third party resources such as external job posting websites etc., cannot be deemed reliable.


Nearest Major Market: Chicago