Claims Specialist - Property

Company



Munich Re Specialty - North America



Location



Princeton
, United States

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty - North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty - North America Disclosures

The Opportunity

Future focused and always one step ahead!

The Claims Specialist will be an essential part of our Property team and will be responsible to direct all aspects of file handling on internal and third-party administered property claims. The Claims Specialist will manage the claim investigation, analyze and determine coverage, evaluate the overall claim, and pursue subrogation as warranted in property insurance claims. This role also gets exposure to handling high profile, national catastrophic property events. The Claims Specialist will manage the litigation process, strategically partner with vendors, participate in mediations, and drive ultimate claim outcomes.

Responsibilities

• Thorough investigation of property claims for coverage, damages evaluation, and subrogation/contribution opportunities.
• Proactive management of claims, considering all aspects with a strategic vision for optimal claim outcome.
• Continual claim evaluation to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
• Demonstrate strong technical claims proficiency through consistent execution of best claim practices.
• Strategically coordinate and manage outside counsel and vendors to obtain optimal claim outcome.
• Present high exposure claims to Claims Leadership and Key Stakeholders.
• Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.

Qualifications

• Bachelor's degree required.
• 5 - 8 years plus experience related to property and/or subrogation claims.
• In-depth understanding of coverage issues, policy forms, regulatory requirements, and changing legal landscape for property claims.
• Innovative, dynamic and growth mindset - looks for ways to improve property claim efficiencies and outcomes.
• Detail-oriented, adaptable, and strategic in decision-making.
• Excellent technical claims proficiency and execution of best claim practices.
• Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment.
• Strong organizational skills and time management of claims desk.
• Strong business acumen and ability to collaborate with other departments and vendors.
• Customer-service and relationship oriented.
• Excellent verbal and writing skills for internal and external communication, presentations and reporting.
• Superior analytical thinking, advocacy, and negotiation skills.
• Willingness to travel for site inspections, mediations, settlement conferences, and client or account meetings. (25%)
• Maintain valid adjusters' license(s) in states assigned or an ability to obtain same.

The Company is open to considering candidates in numerous locations, including Atlanta, Chicago, Philadelphia, and Princeton. The salary range posted below applies to the Company's Chicago location.

The base salary range anticipated for this position is $99,700 - $146,200 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Chicago. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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