Head of Large Loss and Personal Injury
Job Market - Insurance Claims
Job Location - London
Salary - Advised on application
Head of Large Loss and Personal Injury - About the role
To oversee the effective management of large and complex claims and personal injury claims in order to control indemnity spend and case reserving within the terms of insurance policies issued by the company.
Head of Large Loss and Personal Injury - Key duties
Oversee the performance of Personal Injury and Large Loss Claims to deliver effective management of indemnity and operating spend appropriate to industry benchmarks and agreed targets.
To ensure optimum large and complex and personal injury claim settlements through overall portfolio strategy, specific case tactics, business acumen and strong negotiation skills.
Ensure effective management of case reserving in accordance with the company’s published reserving policy. Contribute to the review of reserving philosophy and technical reserve allocation, ensuring that Actuaries are provided with good understanding of working practices and developments in the Claims function.
Develop KPI and MI in order to drive business performance. Providing input to and draft reports for Executive leadership and Board consumption.
Embed robust and compliant processes to control and achieve claims functions relative to the Groups Underwriting portfolios, agreed strategies and requirements and regulatory commitments.
Embed and continuously improve measurements, people performance management, training and development to align with the business strategies, market changes and technical policy on new development.
Influence and lead a culture that reinforces the company brand, values and paradigm behaviours.
Effectively lead, develop and coach a team of specialist staff.
Share knowledge on significant legal developments.
Ensure selection of appropriate external specialists in support of the above objectives and maintenance of relationships with key third parties involved in the large and complex and personal injury loss processes.
Ensure technical policy is up to date and provide input to technical training.
Head of Large Loss and Personal Injury - Key requirements
Ability to draft papers for audiences at all levels.
Financial literacy and appreciation of impacts of payments, estimates and incurred on the portfolio.
Understanding of the business portfolio and knowledge of all products and classes of business.
Understanding of RTA, Contractual obligations, Article 75, MoJ / LASPO and key case law.
Good technical knowledge in bodily injury assessment and all associated special damages to include future losses, Smith vs. Manchester/disadvantage and Ogden Tables and Local Authority & PCT issues.
Good technical knowledge in areas of civil judiciary and litigation to include full MoJ and CPR procedures, LASPO procedures as well as specialist level such as PPO. Full knowledge of First and Third Party in general to understand interdependencies.
Awareness of issues affecting large and catastrophic losses and PPO claim settlements.
Full knowledge of external expert offerings.
Strong knowledge of or qualification in civil law as it applies to RTA.
Experience leading a team and a track record of achieving results