Professional Liability Claims Lead

Job Description

P&C Claims Lead

Full Time

Oakbrook Terrace, IL, US

Salary Range : $107,000.00 To $134,000.00 Annually

Position Overview

BCS Financial is seeking an experienced claims leader to oversee Specialty Risk Solutions claim operations and strategy for Agent E&O, commercial cyber, excess cyber, and other complex products. This role is responsible for managing day-to-day claims functions, driving process improvement, and collaborating across departments to ensure optimal claim outcomes and compliance.

Essential Elements

• Adjudicate claims from end to end including assessing coverage, establishing reserves, communicating with Insureds, TPAs, coverage counsel and reinsurers, establishing reserves and negotiating settlements.
• Establish and maintain early warning system to track and monitor Open claims (high-dollar, high risk exposure situations)
• Facilitate Claims Committee, consisting of cross-functional areas with shared responsibility for positive claim outcomes and accurate financial reporting
• Establish and report on key metrics (KPI and SLA performance management)
• Analyze and report significant claim trends across programs (insourced and outsourced programs)
• Coordinate and lead interdepartmental workflows and resources related to continuous process improvement efforts
• Collaborate with underwriters to support policy construction and drafting, reporting claim trends, data analysis, and risk assessments
• Participate and / or facilitate TPA audits, identify risks and work closely with Enterprise Risk Management and other internal teams to mitigate risks
• Monitor reserves
• Ensure great customer service experience for our Insureds
• Perform similar work-related duties as assigned

Requirements

Education and Certifications

Bachelor’s degree required; advanced degree or industry certifications (AIC, CPCU, RPLU) preferred.

Experience

Travel Required