This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way .
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Purpose:
This role requires a high-performing delegated claims governance manager to focus on delegated underwriting claims oversight, governance and control of outsourced adjusting service providers including Coverholders and Delegated Claims Administrators (DCA).
Detailed Duties:
Governance, Control and Oversight:
- Negotiating, issuing and updating new and in-force DCA Agreements and management of
DCA relationships;
- Issuing new and renewal declarations to existing DCA contracts;
- Production of all addendums, endorsements and CH claims wordings when required;
- Maintaining up to date governance logs of all DCAs and Coverholders with Claims authority including co-signed agreements, declarations, addendums, endorsements, performance and engagement in line with business and Lloyd’s standards;
- Overseeing binding authority / lineslip / consortia and DCA Claims Workflow including an
assessment of the claims handling procedures and reviewing claims clauses within delegated
authority agreements;
- Agreeing loss funds and claims handling authority limits, including liaising with line
Underwriters, Ascot claims handlers, Coverholders, DCA’s, Velonetic, Brokers and “co-insurer” carriers, where applicable;
- Management and oversight of relationship with Vitesse PSP, Velonetic DA services and other delegated authority solution providers;
- Management of non-Vitesse / non-FCP loss funds including a regular review of loss funds held by Coverholders or DCA’s. Identify where funds can either be optimised or repatriated as
soon as appropriate, to maximise utilisation of capital;
- To collaborate with and be the claims escalation contact for the Delegated Authorities team
for due diligence and conduct checks. Ensure due diligence is undertaken and satisfactory to
meet Ascot’s standards both pre and post entering any claims agreements;
- Where a DCA or CH is involved in a high-risk product, as part of the product review
and approval process, responsible for feeding into the Conduct Team their assessment/results of the conduct checks on the Coverholder or DCA, both for new and renewing products. Also, the Coverholder or DCA’s ability to meet the claims reporting and Lloyd’s standards is in line with Ascot’s expectations;
- Ensure adherence to the Lloyd’s DA Claims Principles and update/ implement processes and internal procedures where required;
Stakeholder Engagement:
- Handling any stakeholder queries (both internal and external parties) on delegated authority related business in a suitably prioritised manner;
- Point of contact for Vitesse and Faster Claims Process (“FCP”) including oversight of transition from traditional loss funds to FCP funds, where appropriate, and other claims related
Market initiatives;
- To collaborate with and be the claims escalation contact for the Delegated Authorities Bdx
Manager in relation to all claim’s bordereaux processes. Including optimisation, oversight of late receipt, data quality issues and non-compliance of the bordereaux reporting standards received from delegated claims handling parties;
- Be the Claims representative to the various internal delegated underwriting related committees and execute all associated responsibilities;
- Membership of relevant insurance market committees and organisations;
- Attend market claims meetings and other claim related external meetings;
- Provide coaching, knowledge transfer, guidance and training to more junior team members when required;
- Deputise for the Head of Claims Operations where required;
- Be available for meeting brokers, Coverholders, DCAs, co-insurers and clients including, where necessary, business travel;
Data, Analytics and Innovation:
- As required by the Chief Claims Officer and/ or Head of Claims Operations, provide appropriate management information to the Executives and Board of Directors to ensure effective monitoring of the delegated claims portfolio;
- Responsible for the monitoring of delegated claims management performance including MI assessments, DCA/ CH engagement and leveraging all data insights available;
- Become the SME of the internal DA MI Dashboard and own the evolution of data improvements in line with business and Lloyd’s expectations;
- Facilitate and execute the DA claims change and optimisation strategy to further enhance our delegated claims services working closely with UWs, DA team, Business Product Manager and Head of Claims Operations.
- Embrace a continuous improvement mindset and consider use of AI, automation or toolsets that will improve our delegated claims governance.
Portfolio Oversight and Performance:
- In collaboration with the DA Audit Manager, oversight of the DA claims audit process
including; scheduling, scoping, report review, recommendation issuance and closure;
- Manage and analyse all MI and performance reporting available to ensure comprehensive oversight of DCA and CH performance. Escalation of any issues and provision of DA and CH insights in line with Lloyd’s standards to the Head of Claims Operations.
- Contribute to exit strategies or change of DCA/ CH when required, ensuring continuity of service and regulatory compliance;
- Responsible for monitoring and reporting of performance of DCAs and CHs providing services on high-risk products linked to consumer duty, using data from bordereaux received, internal DA Dashboard and regular performance reports received;
- Pro-actively manage on a structured material basis, effective DCA and CH engagement scheduling to ensure oversight, collaboration and issues can be discussed and addressed.
Please be aware that Ascot Group’s job opportunities will be posted on our official careers page. All official communication comes from @ascotgroup.com email addresses, if you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy . We will never ask for payment or sensitive personal information during any stage of the recruitment process. Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.
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