Overview
Claims Specialist, PFR Jobs in Hong Kong, Hong Kong SAR at Liberty Mutual Insurance
Title: Claims Specialist, PFR
Company: Liberty Mutual Insurance
Location: Hong Kong, Hong Kong SAR
Job Summary:
The Claims Specialist, under moderate direction, handles a book of specialty lines claims, throughout the entire claim life cycle. Responsible for conducting investigations, recommending adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within prescribed authority limits for the line of business.
Job Responsibilities:
- Interpreting policy coverage and determining if coverage applies to claims submitted, escalating technical issues as needed.
- Managing and adjusting all incoming insurance claims for relevant business line, delegating administrative/ processing tasks to the PST where appropriate.
- Establishing and setting reserves for indemnity and expense claims, reviewing reserves on a regular basis to ensure adequacy.
- Authorising payments in accordance with internal processes and within scope of authority, settling claims as expeditiously and economically as possible.
- Ensuring that internal and external stakeholders and Liberty clients consistently receive a high level of claims service that differentiates Liberty from its competitors.
- Providing instructions to external service providers with respect to coverage, investigation and ultimate settlement of claims.
- Actively engage with the Recovery team to pursue all avenues of recovery including, but not limited to timely subrogation activities.
- Participating directly in mediation/ arbitration meetings and actively participating in settlement discussions.
- Providing information to management on the existence or development of critical losses and advising relevant trends within the portfolio.
- Working closely with other business lines in raising the Liberty profile and assisting in account retention and new business opportunities.
- Managing the overall quality and performance of external service providers.
- Consistently implementing, maintaining and monitoring departmental standards and procedures.
- Working closely with the underwriting department to promote Liberty’s “integrated business unit approach” and ensure seamless delivery of underwriting and claims management services.
- In conjunction with underwriting, reviewing policy terms and conditions including assisting with the production of manuscript policy wordings and endorsements.
- Participating in claims audits when required.
- Demonstrating behavior at all times in line with the Liberty core values.
- Ensuring compliance with all legal, statutory and corporate affairs requirements on a timely basis.
- Taking responsibility and showing initiative in the development of your technical and soft skills.
- Performing other related duties as assigned by your manager or other appropriate officer.
Job Competencies:
- High level of attention to detail
- Strong time management skills
- Highly proficient relationship building skills
- Strong verbal and written communications skills
- Strong, commercially aware negotiation skills
- Strong influencing skills
- Sound decision making skills
- Demonstrated ability to drive for results
- Strong organizational skills
- Strong analytical skills
- Developing strategic agility
- Ability to manage a successful portfolio of claims
- Moderate and consistently improving business acumen skills
Job Qualifications:
- Previous claims management experience in the Insurance or Legal industry essential.
- Sound knowledge of the law in relevant jurisdictions and demonstrated ability to understand and apply legal principles to the management of claims.
- Excellent working knowledge of PC based systems and applications such as Outlook, Microsoft Word, Excel, PowerPoint and database systems for managing contacts, schedules and calendars is required.
- Tertiary qualifications in a related discipline would be desirable.
