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Markel · 11 hours ago

Director/Senior Director, Cyber Claims

Red Bank NJ

Full-time

Hybrid

Senior Level, Lead/Staff

$135K/yr - $188K/yr

8+ years exp

Markel is a Fortune 500 company that provides insurance, reinsurance, and specialist advisory services globally. The Director/Senior Director, Cyber Claims will oversee a team handling Cyber and Tech E&O claims, ensuring effective resolution and supporting the development of insurance products in this domain.

Insurance

No H1B

Responsibilities

Oversee the daily operations and performance of the cyber claims team, fostering a collaborative and high-performing work environment

Provide ongoing coaching, support, and direction to team members, particularly in handling complex and high-exposure claims

Assess individual and team performance, identify training needs, and implement development programs for examiners and internal partners

Review and approve claim reserves and settlements that exceed the authority of direct reports, ensuring decisions align with company policies and risk appetite

Offer expert guidance on coverage issues and resolution strategies for complex claims, maintaining a high standard of quality and compliance

Develop and execute strategies to continuously improve claim handling practices and ensure strict adherence to internal claims guidance

Ensure that maintenance and updating of a disaster recovery plan in the event of a catastrophic or systemic cyber event

Develop and maintain relationships with DFIR and legal counsel vendors

Collaborate with actuarial teams to deliver accurate and timely claims data, including the preparation and presentation of quarterly cyber claims reports

Monitor key metrics and progress toward departmental goals, providing regular updates to senior management

Provide reinsurance partners with insights as to claims trends across Markel and the industry

Participate actively in strategy for cyber claims, contributing recommendations for process improvements and organizational initiatives

Engage in special projects as assigned, supporting broader business objectives and innovation within the claims function

Work closely with product line leaders and underwriters to enhance and promote Markel’s cyber and technology E&O products, including the review and development of appropriate policy language

Build and maintain strong relationships with customers and channel partners, representing the organization’s interests and ensuring high levels of satisfaction

Identify claims with significant potential exposure and promptly advise executive management and internal partners to facilitate informed decision-making

Make recommendations to senior management regarding reserve changes, based on thorough analysis and risk assessment

Up to 25% travel as required for internal meetings, industry conferences, and other business needs

Demonstrate effective leadership and team development, resulting in improved claims handling quality and examiner expertise

Ensure timely and accurate delivery of claims data and reports to actuarial and senior management

Maintain strong collaborative relationships across departments and with external partners

Proactively identify and communicate significant risks and exposures to executive leadership

Contribute to strategic initiatives and special projects that advance the organization’s objectives

Qualification

Cyber claims experienceManagement experienceData analysis proficiencyInterpersonal skillsNegotiation skillsOrganizational skillsProblem-solving skillsTeam playerWork ethic

Required

A minimum of eight years' experience in cyber claims

Management experience

Strong interpersonal skills, the ability to communicate effectively, and excellent negotiation skills

Strong analytical skills, including a proficiency in data analysis, as well as good organizational and problem-solving skills

A team player with a strong work ethic

Preferred

Underwriting experience is a plus

Benefits

We offer competitive benefit programs that help meet our diverse and changing environment as well as support our employees’ needs at all stages of life.

All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance.

We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.