Ceded Reinsurance Claims Manager

1 week ago

Hartford, Connecticut, United States 020 Travelers Indemnity Co Full time

About Us

At Travelers, we prioritize the well-being of our clients, communities, and each other. This commitment has established us as a leading property casualty insurer for over 160 years. Experience a culture that fosters innovation and collaboration, where you can truly enjoy your work and environment.

Job Category

Finance and Accounting

Compensation Overview

The salary range for this position reflects a nationwide market range and encompasses a variety of salaries for this role across the country. The actual compensation will be influenced by several factors, including the complexity and scope of the role, the candidate's skills, education, training, credentials, experience, and other employment conditions. Our comprehensive compensation and benefits program also includes eligibility for performance-based cash incentive awards.

Salary Range

$81,000 - $134,400.00

Target Openings

1

What Is the Opportunity?

As a pivotal member of the Ceded Reinsurance Claims team, you will play a crucial role in managing risk and supporting enterprise growth. In the position of Manager within the Ceded Reinsurance Claim Operations department, you will leverage your technical expertise to handle moderately complex reinsurance claims, while also reviewing, analyzing, and processing these claims. Your contributions will be essential in helping Travelers and its various business units achieve significant financial objectives that directly influence the company's success.

Key Responsibilities

Assess, review, and validate reinsurance coverage for losses, focusing on intricate claims such as asbestos, hazardous waste, pollution, and cumulative injuries (e.g., abuse, CTE). Accurately calculate, analyze, and document financial results for all losses in accordance with company policies, ensuring timely notifications, updates, and billings for losses covered under reinsurance agreements. Collaborate with internal and external stakeholders to collect reinsurance receivables, address moderate to complex inquiries from reinsurers, and develop solutions while working with management to resolve intricate disputes. Engage in various Ceded Reinsurance and company initiatives and projects. Maintain regular communication with business units, brokers, and reinsurers to uphold service standards and strengthen long-term relationships. Attend reinsurer and broker meetings to discuss assigned claims and issues. Provide recommendations to management regarding system, procedural, and workflow improvements to enhance operational effectiveness and efficiency. Conduct quality assurance audits and implement necessary adjustments. Mentor new team members and support the development of less experienced staff. Execute additional duties as assigned.

Ideal Candidate Qualifications

Bachelor's degree. Comprehensive understanding of intermediate insurance and reinsurance principles, particularly concerning the assigned lines of business; thorough knowledge of Travelers' reinsurance program for these lines. Professional designation or progress towards one (MBA, JD, ARe, CPCU). Strong analytical, problem-solving, organizational, and negotiation skills, with the ability to influence projects involving agents and brokers. Proficient verbal, written, presentation, and interpersonal skills, capable of building and maintaining effective relationships with internal and external partners. Proven ability to devise innovative solutions for complex challenges. Demonstrated capacity to adapt swiftly to changing priorities.

Required Experience

A minimum of four years of relevant insurance and/or reinsurance experience. Willingness to travel for meetings with external clients.

Benefits

Health Insurance: Coverage for employees and eligible family members, including spouses, domestic partners, and children, begins on the first day of employment. Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to the first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can participate in the Paying it Forward Savings Program, where Travelers contributes to your 401(k) account based on your student loan payments. You are also eligible for a fully funded Pension Plan. Paid Time Off: Enjoy a minimum of 20 days of Paid Time Off annually, in addition to nine paid company holidays. Wellness Program: Our wellness program offers tools, discounts, and resources to help you achieve your wellness goals and caregiving needs. Additionally, our mental health program provides access to free professional counseling services, health coaching, and other supportive resources. Community Engagement: We are deeply committed to the communities we serve and encourage employee involvement. Travelers offers a Matching Gift and Volunteer Rewards program to support charitable contributions.

Equal Opportunity Employment

Travelers is an equal opportunity employer. We believe that our workforce should reflect the diverse customers and communities we serve. We are dedicated to recruiting, retaining, and developing diverse talent while fostering an inclusive workplace that celebrates differences and promotes belonging.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs, please visit our website.

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