Position Summary
This position is responsible for managing the claims process cross the entire global MGU. The candidate will be tasked with reviewing claims, in partnership with Lead Underwriters, to ensure coverage positions and acting as a conduit between the Lead and the MGU to advise on underwriting intent and represent our position within the claims adjusting process. The position will further require the development of a global claims panel, identifying vendors and TPAs needed to execute a seamless global claims proposition. The Director will also be required to build relationships with carriers ensuring they work with all internal parties to provide timely and accurate claims data. The position will also be fundamental in helping to develop strategic plans across the MGU – lending industry knowledge and foresight into refining our underwriting strategy and guidance, while also helping assess policy language development, and training underwriters on evolving issues, as required.
What will your job entail?
Job Responsibilities:
• Works with carriers and the MGU to ensure smooth management of the claims process.
• Works with outside counsel as necessary to determine appropriate coverage.
• Responsible for managing the MGU’s vendor panel.
• Acts as department resource for interpreting all contract policies, and provides oversight of the MGU claims function.
• Maintains claims paying authority up to the limit specified in each contract.
• Will work closely with Underwriters and Senior Management to provide timely loss information and continual updates.
• Responsible for mediating claims issues and finding acceptable solutions.
• Works with producers, customer service staff, insureds, carriers, TPAs, and other claims resources to develop procedures and workflow approaches that support claims.
• Responsible for reporting and presentations to carriers, underwriters and MGU management – contributing to all business planning.
• Responsible for staying ahead of legal and regulatory considerations that could impact the MGU’s exposure to known or developing claims concerns.
• Responsible for staying ahead of policy developments in the market.
• Work with vendors and underwriters to develop a training curriculum, and tools, to ensure underwriters are kept up to date with information pertinent to helping with risk selection.
• Other relevant duties as assigned.
Work Experience and Education:
• Bachelor’s Degree in Business, Insurance or other related field.
• A minimum of 12 years of claims experience required.
• 5+ years of experience in Management.
Licenses & Certifications:
• Claim Adjuster license required.
• (CPCU) or similar designation is preferred.
Skills:
Technical/Functional Skills:
• Insurance Industry Knowledge
• KPI Tracking
• Claims Policies and Procedures
• Claims Management System
• Claims Processing
• Claims Quality Assurance
• Data Analysis and Reporting
• Insurance Regulatory Compliance
Behavioral Skills:
• Business Relationship Management
• Customer Service Management
• Effective Communication
• Problem Solving
• Decision Making
• Team Management
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.
How We Support Our Teammates
Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
The target salary range for this position is $200,000.00 - $250,000.00 annually.
The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
