Manager - Assumed Claims

Make your mark in Legacy Solutions Claims

Our Claims teams are the proven problem solvers of choice for clients, delivering consistent technical excellence and showcasing our service differentiation to create an unparalleled global claims handling experience. Through a robust stakeholder feedback loop and supported by consistent processes and leadership, we take pride in delivering responsive, fair and professional service with empathy and efficiency.

How you will create an impact

As Manager – Assumed Claims, you will be responsible for management of legacy assumed reinsurance claims and other assigned run-off portfolios. You will ensure claims staff resolves assumed claims in compliance with the terms and conditions under the reinsurance contracts. You will interact with clients, vendors, cedant reinsurers, and retrocessionaires and be responsible for reporting financial transactions, loss exposures, and reserving to various departments including actuarial and senior management. You will also confirm that the assumed claim staff appropriately determine the applicability of the reinsurance treaty, facultative certificate, retrocessional or insurance contract to the loss presented to AIG.

• Responsible for various run-off claim portfolios, directly handled by assumed claim staff and by Network Partners
• Oversees all assumed claim personnel in respect of claim technical compliance, reserving and settlement
• Effectively implements litigation management controls to any circumstance, as warranted
• Reviews and authorizes payment of accurate billings and cash calls
• Leads communications with business units to address business matters proactively
• Provides performance management to assumed claims staff including coaching, feedback and development
• Actively participates, as a member of the Reinsurance Team, in identifying emerging trends and assumed claim exposures
• Provides direction in respect of mediations, arbitrations, and court hearings involving reinsurance and insurance contracts, as necessary
• Directs claim reviews and compliance audits for ceding companies/third-party administrators/self-administered cedants in respect of assumed reinsurance exposures.
• Work closely with financial controls unit, internal and external audit on reinsurance matters

What you will need to succeed

• Experience:
  • 10+ years of relevant experience in an insurance/reinsurance company
  • Ceded or assumed reinsurance experience
  • Reinsurance Claims or Accounting experience
  • Management experience required
• Associate Degree or Bachelor's (CPCU, ARe, AIC, other designations a plus)
• Knowledge of reinsurance including underwriting, claims, accounting, finance and associated process, controls and systems
• Experience with reinsurance operations and finance
• Understanding of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data
• Strong technical skills in Microsoft Excel, Power Point and Word (Access a plus)
• Demonstrated verbal and written communication skills
• Negotiation, analytical, decision making, problem resolution and organizational skills
• Process transformation and control improvement experience is a definite plus

Ready to make a bigger impact? We look forward to reviewing your application.

For positions based in New York City, the base salary range is $118,000-$178,000.  For positions based in Jersey City, the base salary range is $126,000-$171,000.  In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan.  In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: 2024 Benefits Overview .

#LI-SR1
#claimsprofessional

#assumedreinsuranceclaims

#cededreinsuranceclaims

#legacyreinsuranceclaims

#claimsjobs

#claimsmanager

<