Claims Specialist, PFR

Job Description

Job Summary: The Claims Specialist, under moderate direction, handles a book of specialty lines claims, throughout the entire claim life cycle. Responsible for conducting investigations, recommending adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within prescribed authority limits for the line of business. Job Responsibilities: • Interpreting policy coverage and determining if coverage applies to claims submitted, escalating technical issues as needed. • Managing and adjusting all incoming insurance claims for relevant business line, delegating administrative/ processing tasks to the PST where appropriate. • Establishing and setting reserves for indemnity and expense claims, reviewing reserves on a regular basis to ensure adequacy. • Authorising payments in accordance with internal processes and within scope of authority, settling claims as expeditiously and economically as possible. • Ensuring that internal and external stakeholders and Liberty clients consistently receive a high level of claims service that differentiates Liberty from its competitors. • Providing instructions to external service providers with respect to coverage, investigation and ultimate settlement of claims. • Actively engage with the Recovery team to pursue all avenues of recovery including, but not limited to timely subrogation activities. • Participating directly in mediation/ arbitration meetings and actively participating in settlement discussions. • Providing information to management on the existence or development of critical losses and advising relevant trends within the portfolio. • Working closely with other business lines in raising the Liberty profile and assisting in account retention and new business opportunities. • Managing the overall quality and performance of external service providers. • Consistently implementing, maintaining and monitoring departmental standards and procedures. • Working closely with the underwriting department to promote Liberty’s “integrated business unit approach” and ensure seamless delivery of underwriting and claims management services. • In conjunction with underwriting, reviewing policy terms and conditions including assisting with the production of manuscript policy wordings and endorsements. • Participating in claims audits when required. • Demonstrating behavior at all times in line with the Liberty core values. • Ensuring compliance with all legal, statutory and corporate affairs requirements on a timely basis. • Taking responsibility and showing initiative in the development of your technical and soft skills. • Performing other related duties as assigned by your manager or other appropriate officer. Show More