Insurance Processor

  • location: Minneapolis, MN
  • type: Contract
  • salary: $25 per hour
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job description

Insurance Processor

job summary:




POSITION SUMMARY:

Responsible for various activities for assigned portfolios i.e., processing of all technical transactional disciplines associated with the assigned role, i.e., Excess Of Loss, Pro Rata or Facultative portfolio. Duties include responsibility for assigned client accounts; including reinsurance coverage assessment, processing of premiums and/or loss transactions and associated cash follow up, application and disbursement of funds due.









 
location: Minneapolis, Minnesota
job type: Contract
work hours: 8 to 5
education: Bachelor's degree
experience: 2 Years
 
responsibilities:
ESSENTIAL JOB RESPONSIBILITIES:

1. Management of assigned client portfolio. Duties to support client base include transactional processing, follow up and securing reinsurance recoveries, collateral and timely and accurate system entry of all assigned client activity.

2. Assess and submit client and/or reinsurer presentation materials and communications to resolve questions and secure reinsurer agreement and payment of claims and account balances.

3. Work with Market Fiduciary and/or Excess of Loss Collections (US) to assist with collection of funds.

4. Manage settlement of funds to and from Client in a timely manner ensuring all applicable payment warranties and/or conditions are met and take ownership of the End 2 End process.

5. Ensure assigned tasks are completed accurately and in a timely manner ensuring Client measurement Service Level Agreements (SLAs) are adhered to and where possible, exceeded.

6. Utilize Key Performance Indicators (KPIs) and other system tools to manage all brokerage receivables, funding, retention, e-trading (UK), post booking receipt (UK), ad hoc reporting requests, payment of funds and all management and transactional process steps to provide services in an efficient, effective and regulatory compliant manner.

7. Provide detailed information on accounting/claims process for Request for Proposal (RFP) and sales opportunities.

8. Prepare and attend transactional audit/claims review with client and reinsurer (typically annually onsite at client). Review open claims, reconcile claim records, and facilitate review/audit.

9. Provide input for the evolution of the operational model at all levels of the organization. Promote new process improvement ideas leveraging technology solutions.

10. Promote, build and maintain relationships with Brokers, Clients and Markets. Understand issues, resolve problems and queries and review working practices.

11. Participate and support manager in team meetings and activities to share opinions, ideas, knowledge and solutions; maintain strong working relationships and participate in initiatives and/or contribute where required to deliver outcomes. Seek opportunities to increase own understanding and improve the services provided.

12. Support, assist and provide guidance to less experienced Colleagues as needed.

13. Support team by maintaining Colleagues' workloads in their absence.

14. Take ownership of personal development and seek training where required.

15. Perform other job related duties as assigned.

 
qualifications:
EDUCATION/EXPERIENCE:

Four Year College Degree (B.S. or B.A) or equivalent experience (US).

KNOWLEDGE REQUIRED:

  • Knowledge of Reinsurance or Insurance concepts and principles, laws and regulatory requirements (i.e., FSA) and general business trends.
  • Proficiency in Microsoft Office Applications (Word, Excel, PowerPoint) required.
  • Typically acquired through a minimum of 3 years of reinsurance/insurance claims and accounting experience.
SKILLS

1. Demonstrated ability to work as part of a high performance team. Attention to detail in completing assigned tasks.

2. Positive attitude, willingness to offer and execute ideas and solutions to enhance processes within a changing environment.

3. Successful management of workload; able to manage expectations of all Clients and Stakeholders.

4. Able to challenge appropriately, supporting business cases with facts and information.

5. Understanding of project management methodology, stakeholder management, and risk mitigation.

6. Able to engage, influence and negotiate with Clients, Markets and Colleagues in a professional manner.

7. Strong communication and negotiation skills, both written and verbal, delivering clear and concise messages and at all times promoting and enhancing the brand.

8. Strong ability to quickly assess and offer effective solutions to problems efficiently. Ability to make sound judgments independently while knowing when to bring situations to the attention of Management.

9. Consistently deliver superior Client service.

COMPETENCIES:

1. Proven Customer Service Abilities and Orientation.

2. Business Competence/Technical Knowledge.

3. Teamwork.

4. Attention to Detail.

 
skills: Excel
Equal Opportunity Employer: Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.

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