Director of Claims

New York
Insurance
Full-Time
The Company

Boost powers white-labeled insurance programs for innovators across all industries. Our platform helps tech companies offer modern insurance products to their customers within their own frontend environments. Boost’s infrastructure-as-a-service product, IaaS for short, abstracts and simplifies an old school, complicated industry – and unlocks access through a cutting-edge API platform. Our customers are leading consumer and enterprise technology companies as well as game changing insurtech startups and we give them everything they need to quickly get to market with their own programs to monetize the insurance vertical.

What does that mean? That’s ‘abstracted and simplified’ language for boring insurance stuff like ‘A’-rated insurance paper, dedicated risk capacity to pay claims, and ongoing policy and claims administration – but it’s all powered programmatically by our backend API-driven systems. Technically we’re a licensed managing general agency, we’re just redefining what that means.

Our company is backed by an awesome group of investors including Greycroft, Norwest Venture Partners, Tusk Venture Partners, State National, and Nephila. We’re having a ton of fun, growing like crazy, and looking for forward thinking guys and gals to join our team.

The Job

The Director of Claims will play a critical role on the Insurance team, developing claims capabilities for Boost and Boost’s Insurtech Partners.  The candidate will be responsible for the end-to-end implementation of the claims process for each of Boost’s Insurtech Partner’s programs, including workflow, reporting, large loss handling, and claims authority. The Director of Claims will be responsible for managing ULAE and ALAE costs to optimize individual program loss ratios and Boost’s performance. The Director of Claims will be the primary contact for Boost’s third party administrators (“TPAs”) and serve as the internal resource for all claims related questions and issues. The candidate will implement both technical and technological capabilities that align with Boost’s business strategy to power the future of insurance. 

Reporting directly to the Chief Insurance Officer, the Director of Claims will support the CIO in all claims related communication with Boost’s reinsurance facility. The role requires a hungry, driven, self-starting, high-performing professional with deep expertise in claims management and a mind towards innovation with the ability to navigate the intersection of insurance and technology. 

Responsibilities

    • Create, implement, and manage Boost’s overall claims strategy and develop necessary claims capabilities from both a technical and technological standpoint
    • Create and implement compliant First Notice of Loss (“FNOL”) and customer communication strategies for each of Boost’s Insurtech Partners
    • Regularly engage with Boost’s reinsurance and carrier partners on all claims-related inquires, handling large loss reporting, and determine claims authority
    • Primary contact for Boost’s TPA partners
    • Source additional TPAs that align with Boost’s Insurtech Partner’s strategies
    • Budget, oversee, and manage claims and TPA related expenses, including ULAE and ALAE
    • Handle all Large Loss Reporting, including preparation of Large Loss report for reinsurers
    • Coordinate the necessary communication 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 the Legal Team to address any market conduct examination or other regulatory requirements related to claims

Requirements

    • Bachelor’s Degree
    • Must have 7+ years of experience adjusting claims in Property & Casualty
    • Must be a licensed insurance adjuster for Property & Casualty
    • Must have strong quantitative and analytical skills
    • Excellent written and verbal communication skills
    • Resourceful with a passion for diving deep into new topics to become a subject matter expert
    • High degree of interest and working knowledge of insurtech trends
    • Willing to work in New York City full-time or relocate
    • Authorized to work in the United States 

Extra Credit

    • Strong preference for experience adjusting claims in more than one line of business
    • Adept at learning and utilizing new technologies in the workplace
    • Previous experience working at startups or tech companies is a plus

Important Qualities

    • 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 open work environment
    • Self-starter approach that identifies problems and finds solutions
    • Willingness to get in the weeds and get their hands dirty because no task is too small

Compensation & Benefits

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