Claims Specialist, Financial Lines - Downtown Core, Singapore - Allianz Commercial

Allianz Commercial
Allianz Commercial
Verified Company
Downtown Core, Singapore

1 week ago

Wei Jie

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Wei Jie

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Description

Claims Specialist, Financial Lines

Let's care for tomorrow.

Your ambitions. Your dreams. Your tomorrow.
At Allianz Commercial, we are the global leader for insuring corporate and specialty risks in the Allianz Group.

Whether it's aircraft, satellites, the world's biggest ships and tallest building, cyber-attacks, or climate change impacts, AZ Commercial has the major risks covered when it comes to protecting businesses.


Job Purpose/Role:

Proactively investigate, negotiate, and resolve medium-sized claims, involving more complex issues and/or litigation. Ensure claims handled within authority limits, and in line with AZ Commercial 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.

Training and development of team and technical referral point for more junior Claims Handlers. Develop and maintain strong relationships with brokers and clients.


Key Responsibilities:

Claims Processing and Administration

  • Input and maintain accurate claims records for designated accounts, within appropriate AZ Commercial Claims administration systems.
  • Proactively review late/nonpayment of premium and support credit control process with Underwriting / Accounts.
  • Manage timely production of management information reports (e.g., monthly major claims movements) and proactively identify loss trends.
Investigation and Reserving of Claims

  • Investigate domestic and international claims that involve some complex issues and/or litigation requires qualified legal analysis (in cooperation with legal).
  • Evaluate and address coverage issues and determine appropriate reserving levels.
  • Select and direct independent external service providers (e.g., Loss Adjusters) and establish and maintain professional relationship with litigation service provider under supervision.
Settlement

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

  • Ensure all claims handled within authority limits, and in line with AZ Commercial Claims procedures and guidelines and Claims litigation management best practices.
  • 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.
  • Undertake audits of external service providers as appropriate.
Market Management and Coaching

  • Coordinate with local MM to drive successful execution of strategic plan.
  • Support marketing activities through interaction with Underwriters, Risk Services, Market Management, etc. including the support of new business acquisition and retention of existing business.
Relationship Management

  • Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g., third party adjusters).
  • Effectively report and present loss and claims information internally and externally.

Key Experience / Requirement / Skills:
Required Experience

  • Specialized understanding of LoB products and portfolio with technical specialist knowledge. Management of systems (e.g., Genius).
  • Specialized understanding of regional / local LoB insurance markets and competitor landscape.
  • Recognized relationship building with brokers at peer group level.
  • Good understanding of legal and regulatory framework.
  • Experience in working in complex, global matrix organization.
  • Fresh graduates are welcome to apply.
Required Education

  • Preferably a degree in Economics, Law, or other appropriate discipline.
  • Completion of professional insurance qualification (e.g., CII).
Technical Skills

  • Products and Coverages: understanding in relevant products, wordings, terms and conditions and coverages.
  • Claims Handling: knowledge of claims handling process from notification to settlement and recovery.
  • Litigation: understanding of relevant legal processes and procedures, litigation management, litigation avoidance techniques (e.g., mediation).
General Skills

  • Communication skills: Clearly and effectively express ideas and messages via speech or writing.
  • Negotiation and conflict management: Ability to negotiate best position for AZ Commercial, and client, often in contentious situations, managing conflicting priorities of various parties.
  • Analytical skills: Ability to effectively absorb information from various sources, then analyse, study, or examine data in detail, and draw appropriate conclusions.
Languages

  • English
  • Fluency (able to negotiate) in local language is preferred.

What is in it for you?

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