[Hiring] Complex Claims Specialist III - D&O And FI E&O Insurance @TEKsystems

Role Description

We are seeking a fully remote D&O and FI E&O Complex Claims Consultant.

• Draft coverage letters which will have a secondary review.
• File documentation and requirements.
• Severity complex line; claims can be very complex.
• Manage an inventory of the complex Public D&O and Financial Institutions E&O claims, which are generally multi-year and have significant loss exposure, by following company protocols to manage and oversee all aspects of the claim handling, including:
  • Coverage determinations.
  • Investigations.
  • Resolution strategies which may include pursuit of risk transfer, extensive negotiations, and complex litigation management.
• Ensure exceptional customer service by driving continuous improvements for all aspects of the claim/account, providing professional and timely claims services, and achieving quality and cycle time standards.
• Verify coverage, set and manage timely and adequate reserves by reviewing and interpreting policy language and partnering with coverage counsel as needed, estimating potential claim valuation, and following company's claim handling protocols.
• Lead all activities involved with a focused investigation to determine compensability, liability, and covered damages by:
  • Gathering pertinent information.
  • Documenting statements from customers/claimants.
  • Working with experts or other parties as necessary to verify the facts of the claim.
• Drive the resolution of claims by collaborating with internal and external business partners to develop, own, and execute a claim resolution strategy, that includes:
  • Management of timely and adequate reserves.
  • Collaborating with coverage experts.
  • Negotiating complex settlements.
  • Partnering with counsel to manage complex litigation.
  • Authorizing payments within scope of authority.
• Establish and manage significant claim budgets by:
  • Identifying, selecting, and actively managing appropriate resources.
  • Delivering high-quality services.
  • Coordinating all efforts leading to timely resolution of the claim/accounts.
• Discover and address subrogation/salvage opportunities or potential fraud occurrences by evaluating the facts of the claim and making appropriate referrals to Claim, Recovery, or SIU resources for further investigation.
• Achieve quality standards by effectively managing each claim to ensure that:
  • All company protocols are followed.
  • Work is accurate and timely.
  • All files are properly documented.
  • Claims are resolved and paid timely.
• Prepare and present high-profile, complex information to senior leadership, customers, counsel, and others by:
  • Effectively identifying high-profile matters.
  • Developing executive loss summaries.
  • Coordinating and communicating resolution strategies.
  • Sharing relevant current events and case law.
• Maintain subject matter expertise and ensure compliance with state/local regulatory requirements by:
  • Following company guidelines.
  • Staying current on insurance laws, regulations, or trends for the specialized line of business.
  • Representing the company in industry trade groups or other important events.
• May assist with special projects as needed.
• May perform additional duties as assigned.

Qualifications

• Expert knowledge of specialty insurance industry, products, policy language, coverage, and claim practices.
• Excellent verbal and written communication skills with the ability to develop collaborative working relationships, articulate very complex claim facts, analysis, and recommendations in a concise manner to senior management, as well as with external business partners and customers.
• Demonstrated analytical and investigative mindset with critical thinking skills and ability to make sound business decisions, and to effectively evaluate and resolve ambiguous, complex, and challenging business problems.
• Extensive experience in leading complex negotiations, as well as developing and implementing resolution strategies.
• Strong work ethic, with demonstrated time management, organizational skills, and an ability to work independently in a fast-paced environment.
• Ability to drive results by taking a proactive long-term view of business goals and objectives.
• Extensive experience interpreting D&O and E&O insurance policies and coverage.
• Ability to partner with internal resources, oversee/manage outside counsel, and collaborate with other carriers.
• Ability to lead multiple and shifting priorities in a fast-paced and challenging environment.
• Knowledge of Microsoft Office Suite and ability to learn business-related software.
• Demonstrated ability to value diverse opinions and ideas.

Requirements

• Experience Level: Expert Level
• Job Type: Contract position based out of Dallas, TX.

Benefits

• Medical, dental & vision.
• Critical Illness, Accident, and Hospital.
• 401(k) Retirement Plan – Pre-tax and Roth post-tax contributions available.
• Life Insurance (Voluntary Life & AD&D for the employee and dependents).
• Short and long-term disability.
• Health Spending Account (HSA).
• Transportation benefits.
• Employee Assistance Program.
• Time Off/Leave (PTO, Vacation or Sick Leave).

Company Description

We're partners in transformation. We help clients activate ideas and solutions to take advantage of a new world of opportunity. We are a team of 80,000 strong, working with over 6,000 clients, including 80% of the Fortune 500, across North America, Europe, and Asia.