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Bond & SI Associate Claim Rep

Employer
Travelers Insurance
Location
Exton, Pennsylvania
Salary
Not Specified
Closing date
Oct 25, 2019

View more

Category
Claims
Job Type
Not Specified
Career Level
Not Specified

Job Details

Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Summary
Fulfill Bond and Specialty Insurance Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Bond and Specialty Insurance Claims, typically of lower severity or complexity. Learn Bond business, products, policies and procedures via formal academic training (AFSB/PLUS) and practical work experience. Develop claim handling, negotiation, and litigation and strategy skills. Interact and collaborate with a team of business line colleagues.

Primary Job Duties & Responsibilities
Obtain all necessary active adjusters licenses and remain current with all CE credit requirements. Within authority limit, obtain coverage, acknowledge claim notices, comply with documentation standards, set and input reserves and adjust lowest severity claims under the active supervision of Claim Executive and/or Claim Counsel or claims management. Gain an understanding of Bond and Specialty Insurance Claim workflow and key Claim strategies and learn how to execute those strategies. Learn and develop product knowledge. Learn and comply with operational policies, procedures, workflow and performance standards in order to comply with all regulatory and Bond customer service standards. Gain an understanding of all Bond and Specialty Insurance market segments and Travelers businesses. Learn and utilize negotiating skills and strategies within a non-litigation context. Be accountable for accurate documentation/information in claim file and Bond and Specialty Insurance Claim Management System (BCMS). Learn and adhere to Claim documentation standards (e.g. coverage analysis, reserve and settlement rationale, current diary). Keep Claim Executive and/or Claim Counsel or claims management apprised of claims being handled, seeking input and guidance, as necessary for prompt resolution. With assistance and approval from Claim Executive and/or Claim Counsel or claim management, communicate reserve adjustments to underwriting. Prepare reports (e.g. trial, etc.) to management that accurately reflect loss development, potential/actual financial exposure, coverage issues, and claim recovery strategies. Management Liability: Proactively optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include potential responsible party, co-conspirators, beneficiaries and any third parties (Accountants and Banking Institutions, Scrap Yards, Employment Agencies, E&O, or other insurance, etc.). Surety: Proactively optimize pre-loss recovery opportunities through indemnitors and collateral. Learn to identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and Claim Executive and/or Claim Counsel or claims management. Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets in accordance with Travelers' Litigation Management Plan. Guidance is needed for non-routine litigation. Proactively manage litigation tendered to principals. Recognize issues with broader implications to Bond and Travelers. Represent Management Liability/Surety Unit in claim strategic initiatives (or lead team); lead Management Liability/Surety Unit strategic initiatives. Share newsletters, webinar information, case analyses, results of defense counsels legal research and/or litigation strategies with underwriting Bond.

Minimum Qualifications
High school diploma or equivalent required.

Physical Requirements
Operates standard office equipment. Requires extended periods of computer use. Requires extended periods of sitting.

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.

Company

Trav Banner

WHO WE ARE

Imagine a Career With Purpose.

For more than 160 years Travelers has earned a reputation as a leader in personal, business and specialty insurance because we take care of our customers. When you work at Travelers, life’s most important moments become your life’s work. That means helping families feel secure, businesses to prosper, knowing that you’ve made a difference, and feeling like you belong to something bigger.


LIFE AT TRAVELERS

Imagine Playing a Role in Something Bigger.

A career at Travelers means being part of a team comprised of 30,000 + talented and passionate people that’s evolving to meet changing needs – from customer service to data science and beyond. If that’s more than you imagined in an insurance career, it’s time to join us at Travelers.


JOIN OUR TALENT COMMUNITY
As a part of our Talent Community, you will receive customized job alerts, be the first to know about opportunities to work at Travelers, and stay connected with our recruiters!

 

 

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