When the worst happens, a policyholder is reliant on their Insurer to help them recover and move forward. But what happens when a hurricane hits the USA, a major sporting event is cancelled because of Covid, or a CEO’s ill-timed tweet plunges a company’s share price down? Thematic events like this can result in huge losses for Insurers and that is where Reinsurance comes in.
Reinsurance Claims professionals ensure that reinsurance claims made on polices are dealt with efficiently by assessing information to make key strategic decisions which directly impact financial performance. This role is a permanent position within a diverse team of claims professionals and reports to the Claims Manager.
About the Everest Reinsurance Claims Team
Everest Re is global (re)insurance organisation operating within the London Insurance Market - the world’s leading specialty (re)insurance market. Everest Re’s London Reinsurance Claims Team manages the claims emanating from insurers in the London market and continental Europe. These claims originate around the world, span a wide range of classes and are typically high value and litigated meaning the Team handles a diverse and complex caseload.
In a typical week, adjusters may see claims for event cancellation for a music festival, catastrophic sports injury, major cyber data breach for a global organization, securities action against well-known brand name and everything in between. If it’s in the media, there’s a good chance we’re involved!
- Learn to reinsurance claims from a diverse multi-class portfolio, providing precise responses to the market, ensuring accurate reserving, and developing commercial awareness.
- Attending meetings and presentations on high value and complex losses alongside experienced claims adjusters and provide administrative support.
- Help to coordinate client visits and audits, developing investigatory skills, and building relationships within the London Insurance Market.
- Collaborating with Underwriting and other business units to understand how Claims interacts with other internal stakeholders.
- Assisting with ad hoc claims projects and administrative work. Also helping to create management information reporting.
Beyond your day-to-day activities we encourage you to network within the Insurance community and to support others through our Diversity Equity and Inclusion initiatives, Mentoring Programs and Charity Outreach Programs.
What you can expect in the first year
Ultimately, we want you to develop into a Reinsurance claims expert and we will support your development with appropriate training from experienced colleagues. By gaining practical experience through active involvement in real and live situations, we hope to provide you with financial authority to make decisions on claims on business placed through our London and Zurich platforms within your first year.
As a business, we pride ourselves on nurturing future talent and we are an active supporter of several industry-wide initiatives for early-stage careers. Professional and personal development is strongly encouraged within the London Reinsurance Claims Team, and you will be fully supported with flexible study-time and financial incentives to achieve a relevant professional qualification: ACII – Associate of the Chartered Insurance Institute.
At the end of your second year you will complete a quantitative and qualitative research project on an important claims and general reinsurance topic. Working both with the support of the team and independently you will develop key skills in the analysis and presentation of information and gain project management experience. This may involve a deep dive into understanding the drivers for claims activity in a certain class of business, preparing a report and ultimately to present your work to other members of the global claims department.
Beyond year one
This depends on how quickly you develop and are ready to take on more responsibility. We would hope that you will become more confident and develop the technical skills needed to manage your own portfolio of accounts and clients. In the near term, there will be opportunities for you to complete rotations with other departments and secondments with external partners. Throughout your time with Everest you will be supported with professional or academic development relevant to your role.
What we are looking for
The position is open to anyone that is hoping to build a career with a global recognised name located in the world’s leading marketplace for insurance. Applications are welcomed from any school leavers educated to A-Level standard (or equivalent). Applications will be judged holistically, and we are seeking highly motivated candidates that can demonstrate they have a commitment to self-development and the ability to meet a challenge. No prior experience of insurance or reinsurance is necessary.
- At least GCSE Grade C (or equivalent) in English and Maths