SVP, Chief Claims Officer

Berkley Product Protection (BPP)

Berkley Product Protection (BPP) was founded in July 2015 as an operating unit of W. R. Berkley Corporation focused on product recall and contaminated product insurance solutions. Since its inception, BPP has achieved consistent growth by delivering tailored coverage solutions to complex product risks.

Today, BPP has expanded its coverage offerings to General Liability and Excess/Umbrella for medium to high hazard product risks and continues to expand its geographic reach to better serve the product recall and product liability market. Backed by the financial strength and reputation of W. R. Berkley Corporation, a leading commercial property casualty insurance provider, BPP provides innovative underwriting expertise, responsive service, and high-quality claims handling support to the insurance industry.

The Company is an equal employment opportunity employer.

The Senior Vice President, Chief Claims Officer provides strategic direction and leadership for the claims function and is responsible for helping develop and execute strategic plans that support the organization’s business objectives.

• Manage all claims-related matters as well as the analysis, reserve development and execution of claims strategies to deliver optimal loss cost management and customer satisfaction in support of overall business objectives and in accordance with performance standards
• Collaborate with the Leadership Team in loss trend, coverage and exposure analysis for existing and new business opportunities
• Oversee internal claims personnel to manage and achieve high standards of productivity, efficiency and alignment of organizational goals
• Ensure compliance with all local, federal and state regulations related to claims while minimizing risk/exposure to the organization
• Develop and implement appropriate claims strategy in conjunction with the President
• Provide vision and leadership to the Claims organization, while cultivating a culture that excels in communication, collaboration and accountability
• Lead the development, implementation and continuous planning of all claim metrics, processes, results and initiatives
• Collaborate with Underwriting, Actuarial, Finance and other stakeholders to ensure knowledge sharing on market trends, legal changes and loss developments
• Leverage resources, technology and processes to drive innovation through the use of predictive analytics
• Understand and utilize internal claim best practices for proper and consistent claim performance, compliance and achievement of business goals
• Work with the Leadership Team on cost containment strategies including allocated and unallocated expenses within the Claims operation
• Create the Claims annual operational goals, objectives and budget
• Directly manage first and third-party claims, as necessary
• Supervise, audit and analyze the effectiveness of panel counsel to assure compliance with agreed upon metrics and recommend changes to the President, where necessary
• Provide regular Claims updates to brokers and reinsurers, as necessary
• Engage with clients to continually refine the company’s understanding of client needs and requirements
• Support new business initiatives and marketing efforts through service presentations to insureds, brokers and accounts in conjunction with Underwriting and Loss Control, as necessary
• Ensure sound litigation management practices, including detailed review of legal bills using appropriate tools
• Attend mediations, arbitrations, depositions and trials, as necessary
• Participate in establishing, implementing, monitoring and reporting on corporate Claims goals
• Approve settlement and reserve increases for claims
• Monitor loss adjustment expenses to ensure efficient utilization of outside services, including use of independent adjusters or attorney involvement
• Provide the President with regular status reports on large losses
• Keep abreast of industry developments and monitor legislative and regulatory changes
• Perform other duties and projects as assigned by the President

Qualifications:

• 10+ years of strategic leadership experience with responsibility for managing a claims operation
• 15 years of general claims experience with in-depth knowledge of industry best practices for adjudicating commercial property and casualty claims, ideally with expertise in general liability and product recall claims
• Strong written and verbal communication, negotiation and interpersonal skills
• Advanced analytical and problem-solving skills, with the ability to multi-task and independently prioritize competing demands and requests within given time constraints
• Ability to exercise independent judgment, effectively make sound business decisions and resolve unique and challenging business problems
• Demonstrated ability in the use of metrics and data to drive and assure continuous improvement and increased efficiencies
• Strategic leadership
• Claims management
• Reserve management
• Loss cost management
• Predictive analytics
• Litigation management
• Budget management
• Client relationship management
• Data analysis and reporting
• Cross-functional collaboration
• Regulatory compliance
• Operational planning
• Communication and negotiation
• Process improvement

Education Requirement

• Bachelor’s degree required
• Advanced degree preferred
• Juris Doctor strongly preferred