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Claims Specialist - Public Entity

Location Chicago, United States Job type Full-Time Work mode Hybrid Job level Professional Job ID 11166 Company Munich Re Specialty - North America Employment type Regular Area of expertise Claims & Underwriting
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All locations Chicago, United States; Atlanta, United States; Philadelphia, United States; Princeton, United States;

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

The Claims Specialist is a critical role in our growing Public Entity team and will be responsible to direct all aspects of file handling on internal and third-party administered claims in the Public Entity line of business.  The Claims Specialist will manage the claim investigation, analyze and determine coverage, evaluate the overall claim, and pursue risk transfer as warranted in a variety of public entity claims.  The Claims Specialist will also direct the litigation process, strategically partner with counsel and vendors, and participate in mediations to drive optimal claim outcomes. 

Responsibilities

  • Thorough investigation in claims for coverage, trigger (liability, wrongful act, breach), damages, and subrogation/contribution opportunities.
  • In-depth understanding of coverage issues, policy forms, reinsurance contracts, regulatory requirements, and changing legal landscape for casualty claims.
  • Proactive management of claims, considering all aspects with a strategic vision for optimal claim outcome.
  • Continual evaluation claim to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
  • Strong technical claims proficiency through consistent execution of best claim practices.
  • Strategically coordinate and manage outside counsel and vendors to obtain optimal claim outcome.
  • Present high exposure claims to Claims Leadership and Key Stakeholders.
  • Collaboration with internal and external business partners for client meetings, product development and improvement, and account audits.
  • Innovative mindset - looks for ways to improve claim efficiencies and outcomes.
  • Proactive management of claims with a strategic, total cost of claim mindset.
  • Highly technical, analytical and critical thinking ability to properly determine coverage and liability.

Qualifications

Successful candidates will possess the following experience/skills/qualifications:

  • 8+ years’ experience of handling claims
  • Experience in Public Entity or relevant lines of business.
  • In-depth understanding of coverage issues, policy forms, reinsurance contracts, regulatory requirements, and changing legal landscape for casualty claims.
  • Strong technical claims proficiency through consistent execution of best claim practices.
  • Highly collaborative and proactive with strong interpersonal skills
  • Innovative mindset - looks for ways to improve property claim efficiencies and outcomes.
  • Excellent verbal and writing skills for internal and external communication, presentations and reporting.
  • Superior analytical thinking and negotiation skills.
  • Ability to travel for mediations, settlement conferences, and client or account meetings.  (25%)

The Company is open to considering candidates in numerous locations, including Philadelphia (PA), Princeton (NJ), Chicago (IL), Atlanta (GA), and Hartford (CT). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $99,700-$152,800, plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). 

The salary estimate is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the Princeton, NJ job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

  • Two options for your health insurance plan (PPO or High Deductible).
  • Prescription drug coverage (included in your health insurance plan).
  • Vision and dental insurance plans.
  • Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
  • Short and Long Term Disability coverage.
  • Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
  • Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

  • A robust 401k plan with up to a 5% employer match
  • A retirement savings plan that is 100% company funded.
  • Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
  • Eligibility to receive a yearly bonus as a Munich Re employee.
  • A variety of health and wellness programs provided at no cost.
  • Paid time off for eligible family care needs.
  • Tuition assistance and educational achievement bonuses.
  • A corporate matching gifts program that further enhances your charitable donation.
  • Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.   

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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