VP Claims (Life)

Role summary

Responsible for setting overall direction, short and long term strategic goals for the claims function and/or line of business to effectively manage all claims processing activities and related risk mitigation, in full compliance with State and other regulatory requirements. Has fiscal control and compliance responsibility, and may have oversight over a corporate, subsidiary, or regional segment. May be responsible for evaluating new processing technologies, outsourced vendor capabilities, and new claims administration strategies and models to meet or exceed customer service level expectations. Responsible for developing and implementing claims litigation management policies and systems for the assigned function / line of business to reduce legal and related fees. Also responsible for establishing effective claim fraud detection, investigation and mitigation policies and processes to reduce the financial losses from fraud. Additionally, responsible for developing a plan to handle claims management in the context of a significant catastrophic event. Provides executive leadership in functional activities such as claims processing, regulatory monitoring and compliance, fraud investigation, litigation management, risk mitigation and reinsurance, technology assessment, disaster planning and recovery, and related areas. May require an MBA or similar qualification and claims processing and claims management experience in a large complex organization.

Job summary sourced from the Empsight benchmark job library.