Claims Spend Analyst

The Role: The Claims Spend Analyst will play a key role in managing and optimising claims-related third-party spend. The role focuses on claims supplier oversight, third-party reviews and assessments, and the delivery of robust management information (MI) to support cost control, performance management, and regulatory compliance. This role will work closely with Claims and expert third party suppliers to ensure value for money, service quality, and adherence to regulatory and internal governance standards. Key Responsibilities Claims Spend Management Support end-to-end procurement and ongoing management of expert third parties. Monitor and analyse claims spend trends, identifying inefficiencies or opportunities for cost optimisation. Support rate reviews, fee structure reviews, and benchmarking exercises across claims suppliers. Assist in the development and enforcement of claims supplier panels, pricing frameworks and service standards. Utilise the Claims spend management system to analyse and report spend data, ensuring the system holds accurate and up-to-date data at all times. Third-Party Reviews & Assessments Conduct and coordinate third-party reviews, including due diligence, service reviews and performance assessments, in line with internal procurement and TPRM frameworks. Track remediation actions arising from supplier reviews and audits, working with suppliers and internal stakeholders to ensure timely closure. Prepare clear documentation to support internal governance forums, audits and regulatory reviews (e.g. FCA, Lloyd’s). Supplier Performance Management Support the implementation and maintenance of supplier KPIs, SLAs, and performance scorecards for third parties. Facilitate regular performance review meetings with suppliers and internal stakeholders. Escalate performance, cost, or risk issues in line with agreed governance processes. Management Information (MI) & Reporting Develop and maintain claims procurement MI, dashboards and reporting packs covering spend, performance, savings, and risk indicators. Ensure MI is accurate, timely, and tailored for different audiences (Claims leadership, Procurement, Finance etc). Support ad-hoc analysis to respond to audits, deep dives, or regulatory queries. Continuously improve MI quality, automation, and consistency. Stakeholder & Governance Support Act as a key procurement interface for Claims, ensuring alignment with claims strategies and operational needs. Support procurement governance processes, including approvals, exceptions, and policy adherence. Contribute to continuous improvement initiatives across claims supplier management and procurement operating models. Skills: Essential Experience in procurement, supplier management, or commercial roles within insurance, financial services, or a regulated environment. Strong understanding of claims-related third parties and their cost drivers. Proven ability to produce high-quality MI, reporting, and analysis, with strong Excel and data manipulation skills. Experience supporting or conducting supplier reviews, audits, or assessments. Strong stakeholder management skills with the ability to challenge constructively and communicate clearly. High attention to detail and strong documentation skills. Desirable Experience in the London Market and/or Lloyd’s environment. Familiarity with TPRM frameworks, operational resilience, and regulatory expectations (FCA / Lloyd’s). Experience with procurement or finance systems (e.g. e-sourcing, contract management, spend analytics tools). Exposure to claims operations or claims finance. Personal Attributes Analytical and commercially minded, with a strong focus on value and risk. Highly organised, able to manage multiple priorities and deadlines. Confident working with data, governance, and senior stakeholders. Collaborative and solutions-focused, with a continuous improvement mindset.