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Complex Claims Analyst - Financial Lines

Job Level:  Professional
Location: 

Remote, IL, US, 60606

Available until:  09/30/2022
Area of Expertise:  Customer Services & Claims
Unit:  Allianz Global Corporate & Specialty
Employing Entity:  Allianz Global Risks US Insurance Compan
Job Type:  Full-Time
Remote Job:  Hybrid working
Employment Type:  Permanent
ID:  10238

Role Purpose:

  • Proactively evaluate Financial Lines claims involving excess 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:

Investigation and Reserving of Claims

  • Investigate high exposure domestic and international Financial Lines claims (D&O, LPL, APL, EPL, Cyber) 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
  • Select and direct independent external service providers (e.g. Lawyers, Independent Adjusters, Experts)

Settlement

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

Referrals and 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
  • Proactively liaise with underwriters 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)
  • Effectively report and present complex and contentious loss and claims information internally and externally.

Claims Processing & Administration

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

 

Required Skills:

  • Bachelor’s degree required and preferably a Law Degree or other appropriate discipline
  • 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.
  • Multi-lingual is a plus
  • 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.

 

The annualized base pay range for this role is $98,318 - $167,091. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AGCS total compensation package.  As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. Join us. Let’s care for tomorrow.

 

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.

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.

 

For more information, visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance and LinkedIn.

 


Nearest Major Market: Chicago