Director of Claims at Boost Insurance
New York City, NY, US
The Company
 
Boost Insurance is a next generation insurance platform built from the ground up with the explicit goal of making the business of integrating with an insurance company as painless as possible. We enable insurtech startups and other consumer technology companies to offer any kind of protection to their customers – how they want it, when they’re most likely to buy it, and who they’re most likely to buy it from. On top of that we provide a technology platform with APIs for everything from rating, quoting, and issuing policies to customer and claims management.
 
We are an early stage startup supported by leading venture capital and strategic investors and we’re seeking highly-driven professionals motivated by the prospect of building something from the ground up – and doing things differently. 
 
The Job
 
The Director of Claims will play a critical role in developing sound claims strategies for Boost’s Insurtech Partner programs as well as the ongoing oversight and management of Boost’s third party claims administrators (“TPAs”).  Reporting directly to the Head of Insurance Strategy, the candidate will be the primary contact for Boost’s TPA relationships on a day to day basis and serve as the internal resource for all claims-related questions and issues.  The candidate will be responsible for the end-to-end implementation of the claims process for each Boost Insurtech Partner’s program, including pricing, workflow, reporting, large loss handling, and claims authorities.  Working with the Head of Insurance Strategy, the candidate will regularly communicate with Boost’s reinsurance and carrier partners, handle all claims-related inquiries, and facilitate all necessary claims reporting.  The candidate will create and implement compliant First Notice of Loss (“FNOL”) and customer communication strategies with each Boost Insurtech Partner, establish appropriate data reporting with TPAs, and closely monitor all program performance.  The candidate will also take the lead on sourcing additional TPA relationships that align with Boost’s growth and platform strategy.    The role requires a hungry, driven, self-starting, high-performing professional with a mind towards innovation and ability to navigate the the intersection of technology and insurance.
 
Anticipated Start Date: 1Q19; no later than April 30, 2019

Role & Responsibilities

    • Serve as primary contact for Boost’s Claims TPAs
    • Serve as primary contact for claims inquiries from Boost’s reinsurance and carrier partners.
    • Work closely with the Growth, Technology, and Legal Teams to assist with the due diligence, selection, and implementation of new Boost Insurtech Partners, focusing on bringing the claims voice to the conversation. The tasks will include: developing a claims strategy for each Boost Insurtech Partner, creating program projections that show ULAE/ALAE costs,  and developing Customer Service Instructions with the TPA.
    • Manage all necessary claims reporting to interested parties on an ongoing basis.
    • Budget, oversee, and manage claims and TPA-related expenses, including Allocated Loss Adjustment Expenses.
    • Handle all Large Loss Reporting, including preparation of Large Loss Report for reinsurers.
    • Coordinate the communication necessary 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 Legal Team to address any market conduct examination or other regulatory requirements related to claims.
    • Source and partner with additional TPAs that align with Boost’s growth and platform strategy.
    • Develop Boost’s long term claims strategy with an eye towards innovation and technology improvements.

Job Requirements

    • Must be a licensed insurance adjuster for P&C
    • Must have 7-15 years of experience adjusting claims
    • Must have experience working in multi-lines of business
    • Must have working knowledge of the insurtech startup market and strong intellectual curiosity
    • Must have strong quantitative and analytical skills
    • Must have strong interpersonal skills; both written and verbal
    • Must be willing to relocate to New York full-time
    • Must have excellent verbal and writing skills
    • Must be authorized to work in the United States

Other Important Qualities

    • Long-term goal-oriented consistent with startup life
    • Self-starter with the ability to derive need without being told exactly what to do
    • A fun, badass attitude with a desire to build something huge
    • Willingness to “get in the weeds” and “get hands dirty” with a “no task is too small” attitude
    • Adept at learning and utilizing new technologies in the workplace
    • Insatiable intellectual curiosity and creativity

Compensation & Benefits

    • $100,000 - $125,000 salary + equity commensurate with experience and company stage
    • Employer-Contributed Healthcare
    • Best office dogs in the business
    • Jeans and t-shirts environment
    • Huge bags of Swedish Fish
    • Beer (it’s 5 o'clock somewhere)
    • Work with a close-knit team that always has each other's backs

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