Claims Manager - Cyber

Location: United States

About the role

An independent claims handler who will manage and oversee the end-to-end claims process for a wide variety of matters under Cyber policies. Supports Beazley’s vision of being the highest performing sustainable specialty insurer through proactively managing claims, at an individual and portfolio level where required.

Responsibilities

• Proactively manage and oversee a diverse portfolio of treaty reinsurance claims, including Cyber claims, from notification to closure, investing the necessary level of involvement required for each claim depending on the nature, category, maturity, type, and quantum of the claim.
• Handle claims from first notice of loss through resolution, assessing severity, complexity, and direct financial loss to determine the appropriate level of involvement based on claim type, maturity, and quantum, while working closely with brokers, insureds, and underwriting partners.
• Evaluate policy coverage in line with underwriting intent, draft clear and well-reasoned coverage position letters, and effectively communicate coverage determinations to brokers, insureds, and other relevant stakeholders in accordance with Beazley’s Claims Service Standards.
• Manage a portfolio of medium to high severity claims, including Category 2 and some Category 1 claims (i.e., claims with an expected or actual value in excess of $250,000 or having material coverage issues), including coverage litigation but without allegations of bad faith.
• Review individual claims within the portfolio on a regular basis, ensuring claims records are maintained in a timely manner as required by Beazley’s claims controls and standards as well as regulatory minimums.
• Establish appropriate and timely case reserves adhering to Beazley’s authority protocols and Claims Reserving Philosophy and Standards while using all tools available to demonstrate potential loss exposure.
• Develop, iterate, document, and execute claims strategies taking into account uncertainties, key decisions, potential outcomes, and estimated associated costs.
• Ensure the management of claims conforms to agreed standardized processes, maintain accurate and updated claims files including proper documentation and data.
• Communicate any material claims to Reinsurance and Finance as set out by the applicable claims authority, claims controls/protocols, and procedures.
• Work with Reinsurance to effect claims recoveries.
• Understand and implement Beazley’s Conduct Risk Policy.
• Contribute to the continuous improvement culture within the overall claims function.
• Maintain an awareness of the overall strategic objectives and business plans of the Beazley claims function to identify gaps or future opportunities in Claims Management.
• Understand marketing and underwriting strategies for the business area.
• Join client meetings to share Beazley’s claims philosophy and address specific claims issues when requested.
• Provide input to underwriters on potential or existing insured’s claims experience.
• Identify issues and trends, consult relevant stakeholders if required, and take appropriate and/or corrective action.
• Identify wording issues and suggest policy wording improvements.
• Leverage networking opportunities within the business to develop standardized underwriting policy and best practices within Beazley.
• Work with Claims team members and underwriters to maximize business opportunities and profitability within the department, including sharing market information, marketing sources, and cross-selling opportunities.
• Help produce presentations and marketing literature as required.
• Operate within approved claims authority at all times.
• Maintain a thorough knowledge of and ensure compliance with relevant regulation, minimum claim handling standards, and Beazley’s claims controls and protocols.
• Adhere to Beazley’s procedures for the selection and retention of third-party professionals.
• Manage escalation of items from delegated partners where applicable.
• Conduct file reviews or audits as required, and resolve any issues identified.
• Provide feedback on a regular and proactive basis regarding the claim actions undertaken by the Third-Party Administrator (TPA).
• Propose strategies for future claims handling, review case reserve adequacy, and ensure the TPA remains focused on claim finalization.
• Work proactively to develop and maintain strong relations with key brokers and insureds.
• Promote the Beazley brand of excellence and professionalism in client service.
• Adhere to Beazley’s Conflicts of Interest policy, alert the appropriate person to any potential conflicts of interest, and take steps to resolve them promptly.
• Immediately advise your Head of or Group Head of Claims if any Beazley employee seeks to exert undue influence on you or any other team member to act improperly in the management, reserving, or settlement of any claim.
• Adhere to Beazley’s core values—Being Bold, Striving For Better, and Doing The Right Thing—in all interactions, both internally and externally.
• Comply with Beazley procedures, policies, and regulations, including the code of conduct, which incorporates the PRA and FCA Conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People, or assurance teams (compliance, risk, internal audit).
• Display business ethics that uphold the interests of all customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People, or assurance teams (compliance, risk, internal audit).
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system, including membership of any Beazley committees or working groups.

Requirements

• College degree. J.D. preferred but not required.
• Three or more years’ experience handling specialty insurance claims, preferably cyber, technology errors and omissions, privacy liability, media liability, or network security and incident response matters.
• Adjuster license(s) may be required as part of your job responsibilities. If required, those licenses must be obtained within the first 90 days of employment and in accordance with an individual licensing plan established by Beazley Compliance and your Manager.

Skills

• Analytical skills: Problem solving (broad-based, analytical, conceptual, creativity), coverage analysis and writing, analysis of financial statements, financial assessments of claims, data analysis, and decision-making.
• Work management skills: Time and workload management, self-starter, planning, achievement orientation, productivity focused.
• Interpersonal skills: Ability to influence others, client and broker management skills, purposeful communication, flexibility, active listening.
• Knowledge and Experience: Legal training or claims experience, including assessing liability and negotiating settlements. Functional expertise includes claims management procedures, knowledge of US markets (general and specialized areas), familiarity with US legal and regulatory frameworks, as well as alternative dispute resolution methods.
• Competencies: Problem-solving, technical competency and expertise, decisiveness, customer-focused, influencing others, attention to detail, teamwork, self-starter, analytical thinking, managing resources effectively.

About Beazley

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities, and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create, and build—to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefiting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.

Our products are wide-ranging, from cyber & tech insurance to marine, healthcare, financial institutions, and contingency; covering risks such as the weather, film production, or protection from deadly weapons.

Culture

We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 employees working around the world. Employee diversity, experience, and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought, and personal accountability.

Our three core values inspire the way we work and how we treat our people and customers:

• Be bold
• Strive for better
• Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us. We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee Networks include:

• Beazley RACE - Including, understanding, and celebrating People of Colour
• Beazley SHE - Successful, High potential, Empowered women in insurance
• Beazley Proud - Our global LGBTQ+ community
• Beazley Wellbeing - Supporting employees with their mental wellbeing
• Beazley Families - Supporting families and parents-to-be

Career Development

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as:

• Internal pathways (helping you grow into an underwriting role)
• iLearn (our own learning & development platform)
• LinkedIn Learning
• Mentorship program
• External qualification sponsorship
• Continuing education and tuition reimbursement
• Secondment assignments

Benefits

• Attractive base compensation and discretionary performance-related bonus
• Competitively priced medical, dental, and vision insurance
• Company-paid life, and short- and long-term disability insurance
• 401(k) plan with 5% company match and immediate vesting
• 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
• Up to $700 reimbursement for home office expenses