Director of Claims (Far Rockaway)
Compensation: $131,170.00 - $101,960.00 /year *
Employment Type: Full-Time
Industry: Executive Management
Boost powers white-labeled insurance programs for innovators across all industries. Our platform helps tech companies offer modern insurance products to their customers within their own frontend environments. Boosts infrastructure-as-a-service product, IaaS for short, abstracts and simplifies an old school, complicated industry and unlocks access through a cutting-edge API platform. Our customers are leading consumer and enterprise technology companies as well as game changing insurtech startups and we give them everything they need to quickly get to market with their own programs to monetize the insurance vertical.
What does that mean? Thats abstracted and simplified language for boring insurance stuff like A-rated insurance paper, dedicated risk capacity to pay claims, and ongoing policy and claims administration but its all powered programmatically by our backend API-driven systems. Technically were a licensed managing general agency, were just redefining what that means.
Our company is backed by an awesome group of investors including Greycroft, Norwest Venture Partners, Tusk Venture Partners, State National, and Nephila. Were having a ton of fun, growing like crazy, and looking for forward thinking guys and gals to join our team.
T he Director of Claims will play a critical role on the Insurance team, developing claims capabilities for Boost and Boosts Insurtech Partners. The candidate will be responsible for the end-to-end implementation of the claims process for each of Boosts Insurtech Partners programs, including workflow, reporting, large loss handling, and claims authority. The Director of Claims will be responsible for managing ULAE and ALAE costs to optimize individual program loss ratios and Boosts performance. The Director of Claims will be the primary contact for Boosts third party administrators (TPAs) and serve as the internal resource for all claims related questions and issues. The candidate will implement both technical and technological capabilities that align with Boosts business strategy to power the future of insurance.
Reporting directly to the Chief Insurance Officer, the Director of Claims will support the CIO in all claims related communication with Boosts reinsurance facility. The role requires a hungry, driven, self-starting, high-performing professional with deep expertise in claims management and a mind towards innovation with the ability to navigate the intersection of insurance and technology.
- Create, implement, and manage Boosts overall claims strategy and develop necessary claims capabilities from both a technical and technological standpoint
- Create and implement compliant First Notice of Loss (FNOL) and customer communication strategies for each of Boosts Insurtech Partners
- Regularly engage with Boosts reinsurance and carrier partners on all claims-related inquires, handling large loss reporting, and determine claims authority
- Primary contact for Boosts TPA partners
- Source additional TPAs that align with Boosts Insurtech Partners strategies
- Budget, oversee, and manage claims and TPA related expenses, including ULAE and ALAE
- Handle all Large Loss Reporting, including preparation of Large Loss report for reinsurers
- Coordinate the necessary communication for all affected parties related to claims disputes
- Develop and report on loss ratios and performance metrics for each Insurtech Partner on an ongoing basis
- Work closely with the other Insurance Team members to develop and report on key performance indicators (KPIs) and help facilitate any necessary changes to underwriting guidelines, coverages, and/or rates
- Work with the Legal Team to address any market conduct examination or other regulatory requirements related to claims
- Bachelors Degree
- Must have 7+ years of experience adjusting claims in Property & Casualty
- Must be a licensed insurance adjuster for Property & Casualty
- Must have strong quantitative and analytical skills
- Excellent written and verbal communication skills
- Resourceful with a passion for diving deep into new topics to become a subject matter expert
- High degree of interest and working knowledge of insurtech trends
- Willing to work in New York City full-time or relocate
- Authorized to work in the United States
- Strong preference for experience adjusting claims in more than one line of business
- Adept at learning and utilizing new technologies in the workplace
- Previous experience working at startups or tech companies is a plus
- Fun and inclusive personality that works (and plays!) well in teams
- Badass startup attitude motivated by building something huge and doing things differently
- Collaborative style that thrives in a high-energy and open work environment
- Self-starter approach that identifies problems and finds solutions
- Willingness to get in the weeds and get their hands dirty because no task is too small
Compensation & Benefits
- $100,000-$125,000 salary + equity commensurate with experience and company stage
- Healthcare with employer contribution
- A close-knit team that always has each other's backs
Associated topics: chief marketing officer, demand, demand generation, endowment, event, market, mba, public relations, regulatory, twitter
* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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