Head of Property Claims

Location
Princeton , United States

Your job

We’re 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. We will consider a range of reinsurance and/or relevant insurance experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products. Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

The Opportunity
Future focused and always one step ahead

Key to the achievement of our goals to become a digital enterprise which leverages data analytics in order to make decisions about current and future risks, you’ll be empowered and expected to support and add to our culture of innovation and the vision for the future of Claims.

The Munich Re America Services, Inc. (MRAS) Head of Property Claims is responsible for the management of the Facultative and Corporate (F&C) claims (Property and Engineering primarily) as well as the management and steering of the outlier process for Property Claims for the US P&C Companies. Furthermore, the Property claims colleagues from the MR US Claims team work closely together with the Head of Property Claims in MRAS.

The MRAS Head of Property Claims is further responsible for the development and performance of the MRAS Property Claims Team that manages, investigates and resolves claims of all complexities, ensuring state of the art claims management and a high-quality work product. The role advocates for a culture of claims customer service excellence where all are committed to providing a differentiated and best in class customer experience.

The team consists of Property Claim Consultants, Claims Specialists and Senior Claims Specialists. The Head of Property Claims reports to the MRAS Head of Claims and serves on the MRAS Claims Leadership Team.

General Aspects:

• Develop and implement a strategy for MRAS Property Claims in line with the Munich Re Global Claims Ambition and the specific needs of the US P&C Companies.
• Effectively manage direct and reinsurance claims in compliance with Corporate Guidelines ensuring the claims team proactively investigates, evaluates (reserves rights, if applicable), and negotiates coverage and other technical and legal issues with clients, brokers and other co-/reinsurers.
• Provides support for mediations, arbitrations and court hearings involving reinsurance and insurance contracts, as necessary.
• Responsibility for the proactive management of the Ultimate Loss Estimation process for property claim exposures.
• Effectively steer Post Event Loss Estimation (PELE) process within the region and communicate with MR US P&C Operation business units as well as the Global Head of Claims to set initial estimates for Property Outliers.
• Ensure consistent claims management approach for claims with multiple participations across various claims units and provide feedback on overarching trends and lessons learned.
• Maintain close contact with the Large Loss team in Munich and keep them informed about the PELE process.
• Assure timely preparation of summaries and outlier reports.
• Identify issues affecting Outlier event estimates and address common approaches where appropriate.
• Responsibility for the quarterly review and adjustments as necessary for US P&C Property Outlier estimates.
• Provide property claim expertise in support of business unit objectives including product development, claim reviews and client activities in line with the Global Claims Ambition.
• Actively develop property and engineering expertise in the Property Claims Team and, in the region.
• Develop talent on the Property Claims team and contribute to developing line of business specific talent across the region and globally.
• Work in close collaboration with Claims Center in Munich and Munich Re’s Global Claims organization promoting stronger ties, interactions, resource and knowledge sharing.
• Creates a team-oriented environment, leads direct and indirect resources and promotes and encourages change to enhance the process of achieving the department goals as well as local, regional and global objectives and ambitions, both on an individual and team level.
• Regular performance of continuous conversations with the team members including coaching, feedback and development.
• Active participation in identifying emerging trends and new claim exposures across the US P&C Companies.
• Work closely with Financial and Management Reporting on relevant issues and deadlines.
• Serve as a member of the MRAS Claims leadership team and the Global Claims Management Team and contribute to the general success and strategic direction of the Global Claims Ambition.
• Creates a strong collaboration and partnership with MR US Property Claims as well as the other US P&C Companies Property Claims Departments.
• Represents Munich Re Claims and MR Group at conferences, market meetings and industry advocate institutions in accordance with the Global Claims Ambition.

Your profile

Successful candidates will possess the following knowledge, skills and experience:

• College degree or equivalent work experience required.
• 10 or more years’ experience in primary and/or reinsurance gained or acquired in claims and /or, underwriting functions.
• At least 5 years’ leadership experience in managerial roles.
• Excellent understanding of insurance and reinsurance coverage interpretation, loss reserving, loss report analysis, litigation management and client relationships.
• Very good understanding of other functions within the insurance/reinsurance operations (underwriting, accounting, reserving and legal) and respective good network within US P&C and the Munich Re Group.
• Very good knowledge of MR global and US P&C insurance and reinsurance claims systems, applications and processes and Claims guidelines and very good network across the MR Group.
• Ability to lead and manage a team of experienced experts, diverse groups and effectively communicate operational procedures.
• Proven record of accomplishment in managing and developing talent.
• Demonstrated expertise in data management, reporting and analytics.
• Strategic thinking aimed at being solution oriented and results focused.
• Excellent written, presentation and oral communication skills.
• Strong negotiations and conflict solving skills.
• Excels in taking initiative, prioritizing and working independently to meet deadlines.
• Adept at understanding, embracing, and championing a shared strategy.
• Proficiency with Microsoft software (Word, Outlook, Excel, Power BI) and other relevant computer applications

At Munich Re US, we see Diversity 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.

About us

Munich Re America Services, Inc. is a services provider to affiliated group companies primarily related to general services, procurement and IT services.