Head of Claims - Europe at Stoïk in Madrid

Job description

About Stoïk Stoïk protects European SMEs and mid-sized companies against cyber risk. Founded in 2021, Stoïk is a cyber insurer that combines cyber insurance with our own security tools, managed services and an in-house incident response team (CERT), so we support companies before, during and after an attack. Our CERT sees first-hand which attacks cost companies money, and that shapes the prevention we build. Our ambition: become the CISO of Europe. 15,000+ companies protected across 7 European markets 2,000+ broker partners 300+ incidents handled by our CERT every month 200+ people, backed by €70m+ from a16z, Alven and Munich Re The team Reports to: the VP Insurance, directly Works closely with: the Underwriting department, the Product Development team, our CERT and other teams across Stoïk Current team: 3 claims handlers across 3 countries What you'll do As Head of Claims - Europe, you will lead our cyber claims function across Europe, for all segments we operate in, up to companies with €1bn in revenue. You will lead a team of claims professionals and handle the most complex losses yourself, from first notification through to settlement. Location: based in one of our offices in Barcelona, Madrid, Paris, Munich or Brussels Lead the team Manage and develop a team of cyber claims handlers across our European markets. Oversee the team's claims through every stage of adjustment, setting standards for quality, speed and consistency. Run performance reviews, coaching and training, and shape the team's strategy and structure as we grow. Handle complex claims Handle a personal portfolio of the largest and most complex cyber claims, across all segments. Analyse policy wordings and take coverage positions on complex or disputed claims. Lead settlement negotiations with insureds, brokers, co-insurers and reinsurers. Appoint and manage loss adjusters, forensic experts and external counsel, and challenge their findings. Build and manage our panel of incident response providers and external experts, monitoring their quality, speed and cost. Calculate and validate quantum, including business interruption, incident response costs and third-party liability. Set and review reserves, and approve payments within your authority. Work across Stoïk Work closely with our in-house CERT on incident response and on lessons learned from claims. Share claims trends and wording issues with underwriting and product teams to improve our risk selection and policies. Report, update and present on claims developments, large losses and portfolio trends to internal and external stakeholders, including senior management, reinsurers and brokers. Take part in audits and support broker relationships. Present at internal meetings and external events, and support underwriters in broker and client meetings. What we're looking for Experience At least 5 years managing upper-middle-market and large corporate claims across Europe or internationally, in-house at an insurer, at a law firm or as a loss adjuster. Proven experience interpreting policy wordings, leading settlements, working with loss adjusters and calculating quantum. Proven cyber claims experience is required; experience in other commercial lines (D&O, PI, FI, property) is a plus. Experience leading or mentoring claims professionals. Working knowledge of the regulatory framework around cyber incidents, including GDPR breach notification and NIS2 / DORA requirements for larger clients. Background and languages A legal background (law degree or legal practice). Fluent English, plus fluency in at least one other European language, ideally French, Spanish or German. Any additional language is a plus. How you work A team player who builds trust with colleagues, brokers and partners. Strong organisational skills, able to run a demanding portfolio and a team at the same time. Pragmatic and decisive: you make the right call quickly, and you own it. Accountable for your results and your team's. A confident presenter, at