Delegated Claims Authority & Outsource Manager

Job Title: Delegated Claims Authority & Outsource Manager

Reporting to: Head of Claims Performance

Position Type: Permanent Hybrid working 3 days in the office 2 working from home.

Location: City of London

Why Tokio Marine HCC

Standing still is not an option in the current world of Insurance. TMHCC are one of the worlds leading Specialty Insurers. With deep expertise in our chosen lines of business our unparalleled track record and a solid balance sheet TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit empowering our people and delivering on our commitments are at the core of our customer values and so is a desire to grow and provide creative and innovative solutions to our clients.

Job Purpose:

To oversee and manage the Delegated Claims Authority and Outsource for the Claims function of Tokio Marine HCC International ensuring:

• All types of DCAs and non-DCA Service providers comply with the Company delegated authority framework and all relevant regulatory requirements.
• the DCA framework remains fit for purpose mitigates the outsourcing risks to the Company and is adapted in response as appropriate working alongside the compliance team to meet regulatory and internal changes.
• The DCA & Outsource function supports the business with excellent technical expertise and knowledge and performs to a high standard; and
• The performance and associated cost of the DCA & Outsource function meets the objectives defined within the agreements and each Outsource arrangement is monitored with clear KPIs and financial controls

Key Responsibilities:

Oversight Framework

• To ensure the continued enhancement and implementation of a governance and oversight framework for DCA and Outsource matters across the Company adopting a best practice consistent and collaborative approach.
• To work closely with the Claims Managers and Underwriters ensuring that the DCA Strategy is updated on an annual basis and aligns with the underwriting risk profile and delegated authority appetite of the Company.
• To monitor emerging and developing regulatory changes within the market and identify amendments to the relevant policies and procedures in order to effectively implement and embed those changes. This includes communication of such changes internally and externally to our affected third parties.
• To manage the completion of regulatory and Lloyds returns as required and ensure that actions arising from market thematic reviews are embedded within the Company.
• To effectively oversee the DCA and Outsource business written by the Companies European entity Tokio Marine Europe S.A. ensuring quality assurance reviews are performed on a regular basis.

Management of Delegated Authority Arrangements

• In line with the DCA Procedures and the DCA Strategy to oversee all DCA matters including managing the entity-level and contract-level approval and ongoing monitoring for coverholders / MGAs service companies and TPAs across all Underwriting Divisions.
• To oversee the annual production of an audit schedule monitor the audit framework maintain a suitable audit panel and ensure the timely implementation of audits for all DCA arrangements.
• To oversee the completion of third-party audits performed by the DCA Auditor and peer review all audit reports before issuance.
• To ensure the quality assurance framework and peer review processes are embedded and monitored on a regular basis.

Systems and Reporting

• To report on the DCA arrangements and the use of third parties to the relevant Committees.
• To regularly review and enhance the reporting of performance metrics and suite of management information produced for the relevant Committees.
• To monitor aggregated spend on all outsource arrangements and to ensure that the groups use of providers is leveraged where possible.

Team and Stakeholder Management

• To work alongside the U/W Department to ensure all DCA arrangements are managed in accordance with the Delegated Authority Procedure and standards set by the Compliance Department.
• To build and maintain a strong relationship with all business units internal stakeholders and Lloyds.
• To oversee the production and delivery of guidance and training to the business / internal stakeholders in the Companies on compliance with regulatory and Lloyds rules pertaining to the use of third parties and ensure the circulation of information to key stakeholders within the Companies as appropriate.
• To provide co-ordination support for internal audit reviews.
• To complete ad hoc tasks as requested by the Head of Claims Performance and Head of Compliance.

Skills and Experience Specification:

Essential:

• Experience working in a senior DCA role in an insurance company with technical knowledge of the delegated authority market.
• Leadership management skills with the ability to manage stakeholders.
• Strong commercial skills ability to plan budget strategize and collaborate with the business ensuring a risk-based approach is applied.
• Attention to detail excellent due diligence and investigative skills.
• Strong interpersonal skills with the ability to communicate effectively with individuals at all levels of the business in a confident assertive and professional manner.
• Strong analytical problem-solving and written / report-writing skills.
• Excellent organisation and time management skills.
• IT literate with experience of third-party management systems.

Desirable:

• Experience within the Company and Lloyds Markets and understanding of the Future at Lloyds vision and the LMAs DARE vision.
• Experience with the Lloyds DA systems

What We Offer

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.

The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit for more information about our companies.

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