IPSO Claims Specialist I

Unclaimed Property Team Overview:  The Unclaimed Property team is part of the Beneficiary Services Area.  This team processes Life and Annuity Claims that are received through Death Master File when a claim is not reported through the normal channels.  We utilize many research tools to locate beneficiaries and family members of the deceased and then pro-actively reach out to them and assist them through the claims process.  Our goal is to find and pay the beneficiaries and prevent those funds from being escheated.    We communicate with beneficiaries and partners to acquire good order requirements and strive to enhance the customer experience with our consultative approach. This position is responsible for personalizing the relationship with advisors and beneficiaries to resolve not in good order claims and processing them.

Claims Specialist I Overview

This position is responsible for:

• Professional contact with beneficiaries and brokers
  • Correspondence through email and mail
  • Phone calls to and from external customers
• Providing assistance to the call center with open claims
• Personalizing the relationship with our members
• Handling “Not in Good Order” requests
• Processing claims (knowledge of annuity systems is a plus)

Competencies

• Strong research capabilities in order to locate and identify relevant death claim information
• Strong customer service phone skills (Displays sensitivity, patience, and good listening skills)
• Strong research capabilities in order to locate beneficiaries and identify relevant death claim information
• Detail-oriented, as claims are processed from start to finish
• Ability to anticipate the needs of our customers
• Strong problem-solving skills
• Financial services and/or claims experience
• Has a passion for finding efficiencies to enhance the member experience
• Truly cares about best serving our members
• Must be able to meet deadlines of SLA’s
• Driver of engagement

Compensation Grade: D2

Job Description Summary

We have the privilege of helping our customers at a time when they most need us, fulfilling our promise made when we sold them a life insurance policy, annuity or retirement product. Our team values empathy and the ability to understand loss of life and its profound impact on people, along with a desire to provide extraordinary care. If you are a good listener, passionate about outstanding customer service and have the ability to assist policyholders throughout the claims process, we want to know more about you!

As a Claims Specialist I, you'll process life or annuity beneficiary claims from start-to-finish. Our claims process involves a variety of claims ranging in difficulty. Additionally, you will be responsible for written customer correspondence, customer phone calls and processing the claim in the administration system.

Job Description

Key Responsibilities:

• Receives and responds to customer/broker/agent inquiries.

• Works with beneficiaries to claim their proceeds and explain available options.

• Underwrites the claim, reviews, researches and interprets records/paperwork to make accurate claim decisions.

• Performs research to determine accurate beneficiary designations and payment of claims.

• Maintains appropriate records in compliance with regulatory and internal requirements.

• Processes and approves claims according to government regulations, contract provisions and internal procedures and controls.

• Conducts suspense clearing activities, including reporting and various other manual steps for proper tax, legal and reserve reporting, as necessary.

• Underwrites life claims up to $250,000 

• Partners with other Claims Associates and leaders for opinions and more sophisticated cases or analysis.

• Serves on special projects.

• Recommends process changes and improvements.

• Train/onboard new associates as requested.

​May perform other responsibilities as assigned.

Reporting Relationship: Reports to Manager or Director. 

Typical Skills and Experience:

Education: Undergraduate degree in business or finance preferred.

Experience: Two to four years of life insurance and/or annuities experience or claims experience in the financial services industry.

Knowledge, Skills and Abilities: Solid understanding of general business practices. Detailed knowledge of annuity or life claims, business rules, processing procedures and insurance company terminology. Ability to read, analyze and interpret documents. Ability to solve problems and make decisions. Ability to meet internal customer needs and provide service by advising customers of the claims process and ensuring a positive customer experience. Proven written and verbal communication skills. Demonstrates empathy, compassion and interpersonal decision making and problem-solving skills. Ability to handle ambiguity and demonstrate the confidence to ask questions in pursuit of furthering their knowledge as a claims specialist. Ability to understand and navigate multiple systems. Ability to resolve issues in a timely manner and be a productive member of the team.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values:  Regularly and consistently demonstrates the Nationwide Values.

Job Conditions:

Overtime Eligibility: Eligible (Non-exempt)

Working Conditions: Normal office environment 

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Credit/Background Check: Due to the fiduciary account abilities within this job, a valid credit and/or background check will be required as part of the selection process.

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