Professional Liability Claims Lead - Oakbrook Terrace, IL, US
1 day ago
Job description
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
- 10+ years of claims handling experience, with a focus on Agent E&O and Commercial Cyber claims.
- Strong analytical, organizational, and process improvement skills.
- Excellent verbal and written communication; able to present to senior management and in group settings.
- Experience with claims management systems (e.g., Guidewire, ClaimCenter), data analytics, and reporting tools.
- Knowledge of insurance industry claims process, legal/regulatory environment, and litigation/arbitration/trial processes.
- Collaborative mindset and ability to influence others.
Travel Required
- Local travel to main office
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