Claims Account Manager - Alternative Markets (Captive Programs)

Parsippany, New Jersey
Not Specified
Aug 11, 2022
Oct 10, 2022
Claims, Sales
Job Type
Not Specified
Career Level
Not Specified

The Claims Division is seeking a Claims Account Manager (CAM) to join the Alternative Market's Team. In this role, the incumbent will have oversight responsibility for claims managed by our third party claims administrators. Position will manage liability lines of business claims including, AL, GL, APD in our trucking, hetero and construction groups. They will work closely with our Underwriting and Major Case Unit Teams, and will be assigned to specific captive business. These captives involve insured retentions and different expense treatments which require the candidate to work closely with the captive members, captive board, producers, and WC Alt Market's counterpart.

Job Responsibilities

Specifics duties include but not limited to the below:

  • Manage third party administrators (TPA) ensuring compliance with Arch's Best Practices
  • Claim Account Managers will conduct reserve adequacy audits of each program's Third Party Administrators
  • Monitor the third party administrator's compliance with state specific insurance department regulations and unfair claim practices
  • Conduct ongoing training to assigned TPA adjusters
  • Evaluate the TPA's service standards ensuring that they are providing our insureds with quality and timely service in accordance with Arch's established guidelines; ability to escalate issues when found
  • Ensure that the TPAs are in full compliance with Arch's Reserving Philosophy
  • Monitor, manage and provide direction to the third party administrator on all open claims within each assigned captive along with those losses that meet the Arch reporting criteria
  • Maintain active monitoring file and diary ensuring files are managed effectively
  • Review and evaluate quarterly program scorecards to identify trends and provide input and commentary to the underwriting department and the captive board
  • Provide timely notices to Arch's reinsurance department and assist with any audits by the reinsurance companies who participate in the Arch program business
  • Manage and direct any suits wherein Arch is named directly arising out of the assigned program
  • Actively participate in the management and direction of high exposure claims directing counsel and attending mediations on an as needed basis
  • Monitor and report CAT losses and any potentially large claim increases to Underwriting and Senior Claim management on an as needed basis
Required Skills/Experience

  • 10 years working experience with claims handling
  • Ability to handle high severity claims
  • Experience managing casualty, trucking, and construction claims
  • Strong understanding of contract law including risk transfer and insurance procurement requirements
  • Ability to identify, evaluate and properly reserve damages including but not limited to special, general and punitive exposures
  • Proper adjuster licenses in all applicable states
  • Knowledge & expertise with multiple jurisdictions
  • Hands-on experience and strong aptitude with Microsoft Excel, PowerPoint and Word
  • Exceptional communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop productive working relationships with internal/external peers and other professionals across organizational lines
  • Strong problem-solving, analytical, organizational, and time management skills
  • Ability to take part in active strategic discussions
  • Ability to work independently and in a team environment
  • Willing and able to travel 15%

  • College Degree preferred

The Company

Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries. With nearly 20 years of operating history and strong financial ratings, our track record remains solid.

Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.

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