VP of Claims
The VP of Claims will play a critical role on the insurance team, developing and executing end-to-end claims strategies. A strong candidate will have experience building, collaborating, and continuously improving upon claim processes and procedures. Reporting directly to the Chief Insurance Officer, the VP of Claims will be responsible for all aspects of claims operations, including serving as the primary contact for Foresight’s third-party administrators and leading internal adjudication efforts. This role will focus on optimizing individual program loss ratios and serving as the internal resource for all claims related questions for live programs. The ideal candidate is a hungry, self-starting, high-performing professional that can take ownership of claims handling and management. This position requires a nimble, forward-thinking creative to take claims innovation to the next level and develop new products.
Foresight is the first insurtech specializing in commercial coverage for the middle market. Our mission is to improve every business we underwrite, starting with workplace safety. Foresight wraps proprietary risk management software into every policy, improving safety engagement and reducing workplace incident frequency by up to 57%.
With a digital submission process and in-app claims management and reporting, Foresight provides unrivaled value for brokers and businesses seeking safety and savings through technology. Learn more at getforesight.com.
- Create, implement, and manage Foresight’s overall claims strategy including the development of claims handling philosophy and structure.
- Analyze and own core policy review and effectively communicate coverage positions.
- Develop strategies to provide a superior claims experience for Foresight’s distribution and policyholders, ensuring prompt communication with all parties as well as timely and appropriate claim adjudication.
- Lead the implementation of market leading technology to elevate claims capabilities and experiences.
- Day-to-day management of TPA partners, including budgeting, expenses, and claims.
- Source additional TPAs as necessary to align with strategy and growing product lines.
- Regularly engage with reinsurance and carrier partners on all claims-related inquiries, including large loss reporting.
- Create and implement compliant First Notice of Loss and customer communication strategies.
- Develop and regularly report on loss ratios and performance metrics for each line of business and distribution partners.
- Collaborate with Insurance, Operations, and Legal Teams to develop, identify, and track key performance indicators and contribute to the implementation of necessary updates to underwriting guidelines, policy forms and/or rates.
- Work with the Legal Team to address complex coverage positions, coverage disputes, claims involving coverage litigation, and regulatory requirements related to claims.
- Bachelor’s Degree
- Must have 7+ years of experience adjusting claims in Property & Casualty
- Desire to develop, onboard, and direct a Claims team
- Strong relationship building and networking skills
- Excellent written and verbal communication skills
- Curious and resourceful, initiating deep dives to capture new subject matter expertise
- Agile and adaptable with a propensity for working in extremely fast-paced environments
- Highly organized
- High degree of interest and working knowledge of insurtech trends
- Authorized to work in the United States
- Licensed insurance adjuster for Property & Casualty
- Strong experience adjusting claims across multiple lines of business
- Adept at learning and utilizing new technologies in the workplace
- Juris Doctorate Degree
- Previous experience working at startups or tech companies
- 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 transparent communication work environment
- Self-starter approach that identifies problems and applies solutions
- Willingness to get in the weeds and get their hands dirty because no task is too small
- Industry-leading career development opportunities
- Competitive salary
- Paid time off
- Medical, dental, and vision insurance
- Monthly wellness stipend
- Annual Learning and Development stipend