at WTW in Chicago, Illinois, United States
Job Description
The Senior Cyber Claims Advocate provides value-added claims leadership and management service for cyber and tech Errors and Omissions (E&O) insurance coverage, acts as a resource to the placement broker for complex, technical coverage and placement issues, facilitates the creation of thought leadership materials, and participates in new business opportunities to help the FINEX Practice achieve its growth goals.
Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.
The Role
+ Assume responsibility for a robust book of claims and help populate the claims database
+ Confer with client and broker to tailor policy language and program design to meet clients’ needs
+ Advise clients of their claim related obligations under the policies and establish client-specific claims management procedures
+ Provide claims advocacy on behalf of clients by providing written responses to carrier coverage positions and by negotiating favorable claim resolutions
+ Support new business efforts by participating in sales presentations and RFPs
+ Monitor and evaluate the performance of carriers’ claim services for your clients
+ Participate in strategic client meetings as required
+ Maintain direct relationships with key clients, markets and their respective outside legal counsel and vendors
+ Review and provide insightful commentary on new policy forms and proposed amendments to existing coverage
+ Prepare white papers and newsletters concerning recent developments in the law and insurance marketplace
The Requirements
+ Law degree highly preferred
+ Prefer at least 7 years of insurance or litigation experience, with a focus on Cyber and E&O
+ Broker’s license within 1 year of obtaining this position
+ Extensive knowledge of cyber liability insurance, including deep experience at the primary insurance level handling ransomware events and complex network interruption losses
+ Knowledge of claim handling and claim adjudication processes and procedures
+ Strong communication skills both verbal and written at executive level
+ Ability to analyze and provide concise conclusions
+ Claims advocacy skills
+ Time management skills
+ Proficient computer skills relevant to Microsoft Office, Outlook and web-based applications
+ Data analytics and benchmarking
+ Knowledge of laws, legal codes, procedures and processes involving insurance
Compensation and Benefits
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that base salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation
The base salary compensation range being offered for this role is $160,000-$170,000 USD per year.
This role is also eligible for an annual short-term incentive bonus.
Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
+ Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
+ Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (https://cdn-static.findly.com/wp-content/uploads/sites/1862/2023/01/31091722/Washington-State-Time-Off.pdf) ( Washington State only )
+ Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans. If Level 38 or more senior role is in Washington State, you must add the retirement benefits paragraph to the job description. Please note: Producer Sales roles are not currently eligible for the WTW Pension Plan.
EOE, including disability/vets
This position will remain posted for a minimum of three business days from the date posted or until sufficient/appropriate candidate slate has been identified.
