AXIS (AXIS Capital)
Sr. Claims Specialist - Financial Institutions
AXIS (AXIS Capital), Chicago, Illinois, United States, 60290
Sr. Claims Specialist – Financial Institutions
This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk‑adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.
At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
Senior Claims Specialist – Financial Institutions – Claims
will report to the Head of Management Liability – Financial Institutions Claims. The selected candidate will work closely with colleagues across AXIS Insurance including North American Claims, International Claims, and the Financial Institutions (FI) Business Unit to develop and drive an industry‑leading claims offering and strategy.
Responsibilities
Handle and manage a wide variety of Management Liability Claims, including Bankers Professional Liability (BPL), Investment Advisors, Private Equity Errors and Omissions (E&O)/D&O, Insurance Company Professional Liability (ICPL). A plus would be experience with Transactional Liability claims including Representations and Warranty, Judgment Preservation & Contingent Risk.
Investigate, analyze and evaluate coverage liability and damages, following best practices and maintaining appropriate documentation.
Provide technical advice, training and guidance to junior team members and internal business partners.
Review financial institutions claims to determine nature of loss, coverage provided, and scope of claim, and guide strategic direction regarding settlement/disposition of claims.
Develop and maintain relationships with internal and external partners.
Escalate coverage issues and recommend outside coverage counsel assignments for approval when warranted.
Formulate claims and litigation strategies, assign, direct, and manage outside counsel.
Manage costs, including use of coverage counsel and litigation costs, and collaborate with the Litigation Management and Vendor Management teams to ensure cost management and the development and enhancement of panel counsel.
Foster relationships and communicate extensively with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors (both external and internal).
Support underwriting inquiries and information requests; draft, report claim trends, data analysis, and risk assessments.
Lead and participate in presentations and discussions with Underwriters and Insureds on large losses and claim trends.
Participate in claim audits.
Participate in special projects and departmental initiatives.
Identify liability and coverage trends and issues with both individual and portfolio impact, and formulate processes and strategies for handling such claims, ensuring accurate and consistent claims management across impacted underwriting segments and lines of business.
Other duties as assigned.
Qualifications
Juris Doctorate.
Minimum of 5–7 years of experience handling Management Liability claims.
Demonstrated ability to work effectively as part of a team, meet deadlines, and successfully perform in a changing and at times challenging work environment.
High exposure/complex claim exposure evaluation skills.
Demonstrated ability to manage the “flow” associated with FI claims and manage KPIs.
Excellent negotiation, communication and interpersonal skills.
Key Skills & Abilities
Minimum of 5–7 years of Management Liability claims management experience.
Possess required states’ claims adjusters licenses or ability to obtain such licenses within 90–120 days of hiring (preferred states: NY, CA, FL, and/or TX).
Demonstrated leadership, organizational, and management skills or experience practicing law as well as claims management (both directly managed and TPA managed claims).
Demonstrated ability to influence and collaborate at all organizational levels, both internally and externally, and to identify and resolve complex, disputed claims.
Analytical thinker that can drive results using all facets of the legal and claims processes.
Understanding of and ability to balance both the immediate claim issues as well as the broader portfolio impact and customer service impact of coverage disputes and issues.
Excellent oral and written communication skills with the ability to deal effectively with people with conflicting expectations, differing opinions, and multiple viewpoints.
Demonstrated ability and experience handling management liability claims involving a wide variety of loss scenarios as well as reporting and presenting about them to senior management.
In‑depth knowledge of claims, litigation, arbitration, and trial processes as well as excellent analytical, investigative, and negotiating skills.
Juris Doctorate required. Admitted to practice a plus.
Technical knowledge, skills, and training within the field to include:
Complex coverage analysis and experience required.
Financial Institutions knowledge is required.
Confidence in coverage, evaluation and reserving.
Excellent presentation, writing and editing skills.
Solid negotiation and settlement skills.
Supervisory perspective, with experience providing direction and authority to adjusters.
Familiarity with KPI, Data, and Metrics a plus.
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance and Sales
Industry Insurance
Location & Salary Chicago, IL – $83,000.00 – $115,500.00
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At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
Senior Claims Specialist – Financial Institutions – Claims
will report to the Head of Management Liability – Financial Institutions Claims. The selected candidate will work closely with colleagues across AXIS Insurance including North American Claims, International Claims, and the Financial Institutions (FI) Business Unit to develop and drive an industry‑leading claims offering and strategy.
Responsibilities
Handle and manage a wide variety of Management Liability Claims, including Bankers Professional Liability (BPL), Investment Advisors, Private Equity Errors and Omissions (E&O)/D&O, Insurance Company Professional Liability (ICPL). A plus would be experience with Transactional Liability claims including Representations and Warranty, Judgment Preservation & Contingent Risk.
Investigate, analyze and evaluate coverage liability and damages, following best practices and maintaining appropriate documentation.
Provide technical advice, training and guidance to junior team members and internal business partners.
Review financial institutions claims to determine nature of loss, coverage provided, and scope of claim, and guide strategic direction regarding settlement/disposition of claims.
Develop and maintain relationships with internal and external partners.
Escalate coverage issues and recommend outside coverage counsel assignments for approval when warranted.
Formulate claims and litigation strategies, assign, direct, and manage outside counsel.
Manage costs, including use of coverage counsel and litigation costs, and collaborate with the Litigation Management and Vendor Management teams to ensure cost management and the development and enhancement of panel counsel.
Foster relationships and communicate extensively with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors (both external and internal).
Support underwriting inquiries and information requests; draft, report claim trends, data analysis, and risk assessments.
Lead and participate in presentations and discussions with Underwriters and Insureds on large losses and claim trends.
Participate in claim audits.
Participate in special projects and departmental initiatives.
Identify liability and coverage trends and issues with both individual and portfolio impact, and formulate processes and strategies for handling such claims, ensuring accurate and consistent claims management across impacted underwriting segments and lines of business.
Other duties as assigned.
Qualifications
Juris Doctorate.
Minimum of 5–7 years of experience handling Management Liability claims.
Demonstrated ability to work effectively as part of a team, meet deadlines, and successfully perform in a changing and at times challenging work environment.
High exposure/complex claim exposure evaluation skills.
Demonstrated ability to manage the “flow” associated with FI claims and manage KPIs.
Excellent negotiation, communication and interpersonal skills.
Key Skills & Abilities
Minimum of 5–7 years of Management Liability claims management experience.
Possess required states’ claims adjusters licenses or ability to obtain such licenses within 90–120 days of hiring (preferred states: NY, CA, FL, and/or TX).
Demonstrated leadership, organizational, and management skills or experience practicing law as well as claims management (both directly managed and TPA managed claims).
Demonstrated ability to influence and collaborate at all organizational levels, both internally and externally, and to identify and resolve complex, disputed claims.
Analytical thinker that can drive results using all facets of the legal and claims processes.
Understanding of and ability to balance both the immediate claim issues as well as the broader portfolio impact and customer service impact of coverage disputes and issues.
Excellent oral and written communication skills with the ability to deal effectively with people with conflicting expectations, differing opinions, and multiple viewpoints.
Demonstrated ability and experience handling management liability claims involving a wide variety of loss scenarios as well as reporting and presenting about them to senior management.
In‑depth knowledge of claims, litigation, arbitration, and trial processes as well as excellent analytical, investigative, and negotiating skills.
Juris Doctorate required. Admitted to practice a plus.
Technical knowledge, skills, and training within the field to include:
Complex coverage analysis and experience required.
Financial Institutions knowledge is required.
Confidence in coverage, evaluation and reserving.
Excellent presentation, writing and editing skills.
Solid negotiation and settlement skills.
Supervisory perspective, with experience providing direction and authority to adjusters.
Familiarity with KPI, Data, and Metrics a plus.
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance and Sales
Industry Insurance
Location & Salary Chicago, IL – $83,000.00 – $115,500.00
#J-18808-Ljbffr