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Claims Manager

Claims Manager

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The Company

Arch Capital Group Ltd. (NASDAQ: ACGL)) is a Bermuda public limited liability company with approximately $10.5 billion in capital at December 31, 2016, and, through operations in Bermuda, the United States, Europe and Canada, writes specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance, on a worldwide basis. Our unique underwriting platform, successful management team and strong capital base has enabled us to establish a prominent presence in the global insurance and reinsurance markets. Arch Capital Services Inc. ( "ACSI") provides services to the Arch entities within ACGL. 


The Position

Arch Reinsurance Company (Arch Re) is a leading reinsurance company based in Morristown, NJ. We are a subsidiary of Arch Capital Group Ltd. (NASDAQ: ACGL).  Arch Re is looking to hire an experienced Claims Manager who is independent, ambitious and driven to succeed. The candidate must be a self-starter who is motivated and enthusiastic about working in an exciting primary insurance startup environment.  This position reports to the Claims Director of Arch Re. The Claims Manager will be responsible for the oversight and management of all aspects of the Insurance claims area. This individual will be the primary representative to a variety of Third Party Administrators (TPAs) and other vendors in support of the growing Watford Insurance Program business. The Claims Manager will be responsible for overseeing Company’s SIU and anti-fraud training and will serve as primary coordinator to SIU vendor as well as monitoring and analyzing claims data and preparing reports to senior management.


We are excited for someone to join our team of experienced underwriters, claims and other professionals that are actively engaged in the launch and ongoing support of two new primary insurance carriers. Within this opportunity, the individual will directly contribute to the overall success of the Company through independent thinking and innovation. This position with require some domestic travel, approximately 10%.  


Job Responsibilities

  • Manage TPAs and ensuring compliance with claims guidelines, including applicable reserving philosophy 
  • Monitor, manage and provide direction to the TPAs on losses that meet the reporting criteria.
  • Maintain active diary and monitoring of claim files to ensure files are managed effectively and reserved appropriately by conducting periodic checks
  • Prepare monthly reports to management; participate in management meetings and the claims lead
  • Participate in the onboarding of new TPAs including evaluation, agreements and liaise on system integration issues to ensure access to data
  • Prepare, review and evaluate monthly loss reports to identify trends and to provide value to the Underwriting Department and Management
  • Monitor and report claims results to Underwriting, the Claims Director and Legal Department monthly
  • Conduct TPA claims and due diligence audits and reinsurance [SE2] claims audits
  • Provide information to Management about claims issues and large losses
  • Liaise with Management, Underwriting and the claims team to identify important emerging claims trends and monitor them for the company’s risk portfolio[SE3] [SM4] 
  • Special Tasks and Projects


Desired Skills

  • The ideal candidate must be flexible and adept at responding to rapidly changing priorities with a willingness to take on new challenges
  • Strong organizational and problem solving skills
  • Excellent verbal and written communication skills
  • Demonstrated negotiation skills
  • Ability to collaborate with team members and make decisions
  • Experience in evaluating liability and damages of claims with varying severity
  • Energetic, hardworking and enjoy a fast paced environment

Required Education/Experience 

  • Bachelor's Degree
  • 5+ years' experience in Property/Casualty insurance claims handling with a focus on managing and overseeing TPAs, preferably in the Program space
  • Experience with analyzing policy language and coverage position letters
  • Possess a strong familiarity with TPA Agreements and establishing written Claims Handling Policy and Guidelines
  • Experience with conducting insurance and reinsurance claims audits and TPA claims and due diligence organizational audits and ability to identify issues and deliver recommendations confidently
  • Adjuster License a plus but not required