Full-Time

Head of Claims

Rsum

Posted on 11/19/2024

Ryan Specialty

Ryan Specialty

1,001-5,000 employees

Financial Services

Compensation Overview

$200k - $250kAnnually

+ Bonus

Senior, Expert

Remote in USA + 1 more

More locations: Remote in UK

Category
Insurance
Finance & Banking
Required Skills
Data Analysis
Requirements
  • Bachelor’s degree or equivalent professional qualification
  • 8+ years of relevant experience
  • Breadth of experience across specialty lines, commercial lines, and/or reinsurance
  • Strong claims and claims operational background
  • Risk control and governance minded thinking
  • Acting as a champion of change
  • Strong business aptitude, including written/verbal communication and time management skills
  • Detail-oriented, with strong organizational, analytical, problem-solving, and de-escalation skills
  • Proven ability to balance multiple projects, timelines, and stakeholders
  • Willingness to get involved at all levels and aspects of the process as necessary
  • Enjoys operating in a dynamic, fast-paced environment and effectively prioritizes
Responsibilities
  • Establish and manage a governance process that integrates meaningful quality standards, validates appropriate controls, and provides value to Ryan Specialty and external partners
  • Drive the implementation of metric dashboards to monitor claims production, assess case reserve adequacy, and track large claim risk
  • Standardize, centralize, and operationalize claims advocacy practices for all business written by RSUM
  • Develop long term claims organization plans as RSUM continues its growth path
  • Define compelling business arguments to elicit change on future or existing claims issues
  • Be a champion of claims excellency and contribute to a sound risk awareness culture across claims teams
  • Serve as an escalation point of contact for issue resolution that put Ryan Specialty or external partners at risk related to claims handling
  • Work with vertical partners to ensure alignment with divisional objectives and standards
  • Cultivate and maintain excellent relationships with stakeholders and leaders throughout Ryan Specialty and external partners
  • Strategize ad hoc reports, analyses, and data sets to identify and solve business problems
  • Oversee claims handling or advocacy teams remediation activities/action plans as necessary to address poor performance
  • Develop materials and lead the workings of the RSUM Stewardship Claims Committee and manage communications to key stakeholders around key issues/resolutions
  • Be a team leader and builder who has the eye for talent with the ability to maximize resources and capability to deliver business results
  • Create a culture and environment where productivity can be accomplished and sustained, and where innovation and personal growth is encouraged and realized
  • Collaborate with management on planning, staffing, and budgeting

Company Stage

IPO

Total Funding

$705.5M

Headquarters

Chicago, Illinois

Founded

N/A

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

-1%
Simplify Jobs

Simplify's Take

What believers are saying

  • The acquisition of Castel Underwriting and Socius Insurance positions Ryan Specialty for growth by expanding its product offerings and market reach.
  • The company's investment in new space in Chicago indicates a commitment to growth and expansion, potentially leading to new job opportunities and increased market presence.
  • Ryan Specialty's innovative programs, like the Franchise Hotel Program, showcase its ability to adapt and cater to niche markets, enhancing its competitive edge.

What critics are saying

  • The rapid expansion through acquisitions may pose integration challenges and strain resources, potentially impacting operational efficiency.
  • The specialty insurance market is competitive, and Ryan Specialty must continuously innovate to maintain its leadership position.

What makes Ryan Specialty unique

  • Ryan Specialty's focus on specialty insurance and its role as both a wholesale broker and managing underwriter sets it apart from traditional insurance firms.
  • The company's strategic acquisitions, such as Castel Underwriting and Socius Insurance, enhance its product offerings and expand its international presence.
  • Ryan Specialty's ability to successfully reprice its term loan and reduce capital costs demonstrates financial acumen and operational efficiency.

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