Claims Director directs and oversees the operations of an insurance claims department to meet operation, financial, and service requirements. Provides guidance and sets policies on insurance claims for personal, property, or casualty loss based on coverage, appraisal, and verifiable damage. Being a Claims Director is responsible for the strategic processing and payment of claims. Keeps abreast of any changes to legislation and regulations which pertain to insurance claims. Additionally, Claims Director provides guidance to subordinates on the most complex claims. Requires a bachelor’s degree. Typically reports to top management. The Claims Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be a Claims Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function.
Claims Director Job Description Template
Our company is looking for a Claims Director to join our team.
Responsibilities:
- Responsible for developing and adhering to department and corporate budgets;
- Performs other projects or job tasks as assigned by senior management;
- Source additional TPAs that align with Boost’s Insurtech Partner’s strategies;
- Create and implement compliant First Notice of Loss (“FNOL”) and customer communication strategies for each of Boost’s Insurtech Partners;
- Handle all Large Loss Reporting, including preparation of Large Loss report for reinsurers;
- Coordinate the necessary communication for all affected parties related to claims disputes;
- Budget, oversee, and manage claims and TPA related expenses, including ULAE and ALAE;
- Work with the Legal Team to address any market conduct examination or other regulatory requirements related to claims;
- Develop and report on loss ratios and performance metrics for each Insurtech Partner on an ongoing basis;
- Build and maintain productive business relationships with institutions;
- Primary contact for Boost’s TPA partners.
Requirements:
- Experience managing and creating relationships with TPA’s;
- Experience handling General Liability and Auto Liability claims;
- Public Entity experience a plus;
- Demonstrated ability to meet deadlines, determine priorities and adapt to changing priorities as needed;
- Advanced proficiency with the Microsoft suite of products;
- Authorization to work in the United States;
- Litigation and Risk Management experience a plus;
- Advanced ability to present complex factual, medical, and legal concepts in thorough but concise manner;
- Experience servicing large accounts and/or experience managing casualty claims in an excess environment is desirable;
- Willing to work in New York City full-time or relocate;
- High degree of interest and working knowledge of insurtech trends;
- Collaborative style that thrives in a high-energy and open work environment;
- Experience with insurance contract interpretation;
- Bachelor’s degree;
- Willingness to travel up to 30% of the time.