What are the responsibilities and job description for the Claims Associate position at Core Specialty?
The Claims Associate will oversee handling of claims by third party administrators and vendors to ensure appropriate and timely resolution of claims in alignment with Core Specialty Financial Services Division appetite and standards.
Key Accountabilities/Deliverables:
- Ensure compliance with established claim handling guidelines regarding coverage, investigation, liability, damages, evaluation and resolution.
- Provide oversight on claims portfolios handled by TPAs within the financial services book.
- Competently select, instruct, and manage 3rd party claim administrators and vendors; including auditing the claims administrators to ensure appropriate claim management practices.
- Gather and analyze information necessary to make an accurate evaluation of the claim by delivering effective resolution of claims, make decision within established authority levels and identify settlement issues.
- Establish reserves pursuant to established reserving protocols and reserve authority procedures.
- Meet all reporting requirements timely and accurately, including Large Loss Reports, etc.
- Perform reserve reviews on a quarterly basis.
- Liaise with underwriting team with regard to claim trends and other areas of interest;
- Work with external customers to address questions, resolve problems and maintain rapport.
- Occasional domestic travel when required.
- Undertaking general office administrative duties as and when required.
- Proactively expand and maintain awareness of market, industry.
- In addition to the above key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.
Technical Knowledge:
- Knowledge of targeted industries
- Knowledge of insurance company operations
- Knowledge of financial services products including coverages, exclusions and endorsements
- Knowledge of state and federal laws applicable to financial services claims.
- Detailed understanding of good faith claims handling.
- Detailed understanding of legal principles as they pertain to insurance claims.
- Ability to simplify, analyze and explain complex issues
- Ability to review processes and determine opportunities for improvement
Experience:
- Bachelor’s degree (preferably with a Risk Management & Insurance Major) or equivalent work experience.
- Achieve or working towards an industry designation such as CPCU, CRM, ARM, CIC
- 2 years claims experience in related line of business
- Experience working with support services, including IT, claims, actuarial and operations.
#LI-Hybrid
At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program
Field Roof Inspector - Independence, KY - Cincinnati, OH
Hancock Claims Consultants -
Independence, KY
Claims Specialist
Russell Tobin -
Mason, OH
Claims Supervisor
Network Adjusters, Inc. -
Covington, KY
