GSI Head of Large Loss Coordination

Company
Munich Re America Services
Location
Princeton , United States

*We are open to the position sitting in London, Munich or Princeton, NJ.

 

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.

 

The Company

Munich Re America offers 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.

 

In the beginning of 2023 we launched Global Specialty Insurance (GSI) with the goal to operate as a united specialty insurance organization, to leverage our strengths and capture economies of scale and expertise, deliver underwriting and claims excellence to our clients and customers, and build for the future, by investing in technologies to enhance capabilities, processes and customer service.

 

 

The Opportunity

 

The GSI Head of Large Loss Coordination is instrumental in safeguarding the organization against significant financial losses. Responsible for the oversight, management and interface for information flow relating to Large Losses and Outlier Claim. Controlling and understanding development of Large Losses/Cat Events/Outlier Claims, while ensuring the GSI CCO is informed of necessary developments. Representing GSI Claims at internal Forums. The role involves collaborating with various departments to minimize financial impact, enhance risk management practices, and ensure compliance with industry regulations. Ensuring the right Governance is in place.

 

Responsibilities

 

• Conduct in-depth analysis of large loss and outlier claims data to identify trends, patterns, and potential areas for risk mitigation.
• Collaborate with risk management teams to assess and implement preventive measures based on claim analysis.
• Stay abreast of changes in relevant legislation.
• Communicate effectively with internal and external stakeholders, including clients, legal representatives, and regulatory bodies.
• Provide timely and transparent updates on the status of large loss claims and outlier cases to the GSI CCO and internal stakeholders.
• Represent GSI Claims and the GSI CCO (When necessary) at relevant internal forums.
• Provide strategic direction, ensuring alignment with the company's risk management objectives.
• Working with the GSI Claims Head of Information – Data and MI to ensure the right Governance is in place for GSI Claims.
• Work proactively to identify and implement process improvement.

 

Qualifications

• University Degree and/or relevant professional qualification
• Extensive experience in claims management, with a focus on large losses and outlier claims.
• Strong leadership and team management skills.
• In-depth knowledge of insurance regulations, compliance, and risk management principles.
• Excellent communication and negotiation skills.
• Ability to analyze complex data and make strategic decisions.
• Ability to travel and work flexibly to take account of time differences in various office locations.

 

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.