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Claims Adjuster - REPO Plus

Employer
Allied Solutions LLC
Location
Carmel, Indiana (US)
Salary
Benefits, 401k and substantial PTO
Closing date
Oct 15, 2020

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Category
Claims
Job Type
Full Time
Career Level
Experienced (Non-Manager)

Job Details

Claims Adjuster - REPO Plus

This position will be responsible for the investigation, valuation, assessment of exposure, negotiation, and settlement of assigned REPO Plus collateral recovery claims. These claims will range from medium to moderate complexity. In addition to the tasks assigned above, this position will also be responsible for the collection and negotiation of recovery dollars from hundreds of insurance carriers that insure the collateral involved in the loss. Supervisory oversight will be minimal and driven by analytics on each claim adjusters’ pending portfolio of claim recoveries. Key activities associated with the position include: insurance carrier acknowledgement and education throughout the claim process, investigation into the applicability of policy coverage and application to the loss, evaluation of damages, negotiation and settlement of the claim.

The position will be required to follow all regulatory and jurisdictional requirements. In addition, each account may have its own specific claim guidelines that must be adhered to. This position will require that all assigned claims are concluded promptly, equitably, and economically within the provisions of the policy contract and in accordance with the damages presented. This position also requires that the adjudication of the claim be within company guidelines and all state regulatory requirements.

The position will be responsible for a pending inventory of 200-250 claims per month and assignment of 13-17 new claims each day. A production ratio of 100% is required as well as collection of recovery dollars at a rate of 90% as compared to the entire department each month. This position will involve processing 13-17 claims per day and negotiating property damage automobile claim settlements with various personal lines and commercial lines insurance carriers, on behalf of lender clients. This position will also need to ensure all touchpoints for communication within a claim diary system are complied with. The Claim Adjuster will need to investigate information identified within Lexis Nexis,

AutoCheck, ISO, and other databases as applicable to the repossessed collateral.

 

JOB DUTIES AND RESPONSIBILITIES

Manage an inventory of 200-250 claim files and make daily contact with identified insurance carriers to achieve recoveries established at $100,000 or more per month;

  • Review, analyze, and process claim documents and inquiries related to first party physical damage claims that are presented to insurance carriers based upon assignment from numerous lender clients;
  • Develop and effectuate financial claim demands on new insurance claims reported to the borrowers’ insurance company on behalf of the lender client;
  • Present and negotiate demands to the borrowers’ insurance company and ensure the effective, timely, and accurate payment of these demands;
  • Maintain active follow-up to negotiate settlements with outside insurance carriers making approximately 40-50 outbound follow ups- this includes both calls e-mail communications- and settlement demands/negotiations per day;
  • Maintain 100% Claim Production for a workload averaging 200-250 claims per month;
  • Handle a pending of up to 250 claims per month;
  • Negotiate claim settlements on behalf of lender clients with outside insurance carriers;
  • Maintain a current diary for each assigned REPO Plus claim;
  • Maintain contact with borrowers’ insurance company to ensure REPO Plus claims are pursued appropriately;
  • Provide regular updates to clients on the status of their REPO Plus claims;
  • Send out correspondence that explains the final resolution of the REPO Plus claim to clients;
  • Process and adjudicate REPO Plus claims of medium- level severity;
  • Assist in the communication and presentation of the primary job functions of the position during client onboarding presentations;
  • Process all outside insurance claim inquiries within 3 business days of receipt;
  • Handle an appropriate referral for any file requiring Department of Insurance or Legal Counsel involvement

QUALIFICATIONS (EDUCATION, EXPERIENCE, CERTIFICATIONS & KSA)

  • College degree (BS/BA) required except in the following circumstances:
  • Internal (Allied) insurance experience as a Claim Investigator, Adjuster I, Claim Processor, or Claim Specialist with a minimum of 6 months of internal experience (including time as a temp if applicable);
  • A HS degree with a minimum of 2-3 years of insurance, collections, or investigative experience
  • Minimum of 1-3 years of professional experience in a related field strongly preferred;
  • Strong preference given to those with collections, recovery, investigation, or other recovery skill set;
  • Must be willing to work extended hours when necessary to ensure financial goals are met each month;
  • Excellent telephone, written, and verbal communication skills required;
  • Strong decision making and organizational skills required;
  • Strong drive for results with a proven track record of achievement;
  • Ability to evaluate claims of up to moderate complexity, which would include using intellect to interpret policy provisions and apply the policy language to individual claim losses to make the appropriate demand for recovery;
  • Ability to discern important file facts and document all pertinent issues associated with individual claim files with some minimal level of supervision;
  • Ability to determine coverage and damages owed on moderately complex claims by assessing the merits of each individual claim and applying the facts of the loss and tangible evidence, along with the adjusters’ past experience and statutory/regulatory case law;
  • Ability to analyze a client's issue and communicate proposed solutions effectively within certain levels of the organization;
  • Ability to determine all applicable coverages for an individual claim file as it pertains to a specific set of loss facts;
  • Ability to interpret and comply with all regulatory mandates within individual jurisdictions, including state adjusting licensing requirements;
  • Ability to investigate the potential for recovery by examining the evidence of the loss and confirming the existence of insurance or other responsible parties;
  • Ability to effectively and professionally present information in one-on-one and small group situations to customers, clients, and other employees of the organization;
  • Ability to compute all units of measure, using whole numbers, common fractions, and decimals; ability to compute rate, ratio, and percent, and to draw and interpret statistical material;
  • Solve practical problems and deal with a variety of concrete variables in situations where only limited standardizations exist;
  • Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form;
  • Familiarity with Microsoft office products, with ability to use internal e-mail system and the ability to type at least 45 WPM;
  • Strong attention to detail;
  • Ability to work independently in a fast-paced production environment

 

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, skills, efforts or working conditions associated with a job.

Company

Allied Solutions has provided quality insurance, lending and marketing products and services that meet the constantly changing needs of financial institutions and their members for more than 26 years. We provide innovative, value-added products and services that give our clients a competitive advantage and back them up with a level of service that is unsurpassed. Cutting-edge technology, competitive pricing strategies, and superior service and training support our business. We train our staff and design our systems around this philosophy, and choose carriers that share the same commitment. This commitment to service, combined with our commitment to quality, sets us apart from our competitors. Allied Solutions has the products you need, the experience to make them work, and the commitment to service that ensures quality.

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