Assumed Reinsurance Claims Account Manager
About The Position
At PALMS Insurance, a NextEra Energy company, we specialize in offering customized insurance solutions that address the unique needs of our clients. Our commitment to excellence, reliability, and customer satisfaction sets us apart as a trusted provider in the insurance industry. The ideal candidate for this position will be able to handle and adjust assumed reinsurance claims that may be complex in nature on behalf of Palms Insurance Company, Palms Specialty Insurance Company and Sabal Specialty Insurance Company. The position is responsible for managing insurance activities related to claims, including investigation, evaluation, negotiations and settlement of claims, as well as managing third-party relationships involved in the claims process.
Requirements
- Ability to work in a fast-paced startup environment.
- Demonstrate an in-depth understanding of coverage issues, policy forms, reinsurance treaties, facultative certificates, contracts, regulatory requirements, and changing legal landscape.
- Understanding of technical claims proficiency and execution of Best Claims Practices.
- Excellent analytical/negotiation skills.
- Excellent communication and writing skills with a strong business acumen and ability to collaborate with other departments, business partners and vendors.
- Ability to resolve complex claims with minimal supervision.
- Good critical and analytical thinking, advocacy and negotiation skills.
- Bachelor's or Equivalent Experience
- 7+ years Experience
Nice To Haves
- None
Responsibilities
- Review and validate assumed reinsurance claims to ensure accuracy and adherence to contract terms and conditions.
- Coordinate the submission, tracking, and resolution of reinsurance recoveries, including facultative and treaty claims.
- Analyze claim data and documentation to confirm reinsurance applicability and recovery potential.
- Maintain accurate records of outstanding recoverable and settlements in the claims management system.
- Act as the primary point of contact for brokers, reinsurers, and internal stakeholders regarding reinsurance claims.
- Collaborate with underwriting, finance, and legal teams to resolve discrepancies or disputes.
- Manage and reconcile claim statements and bordereaux with counterparties.
- Facilitate regular status updates, claim summaries, and audit support for reinsurance partners.
- Prepare reports on claims activity, recovery performance, and outstanding balances.
- Support financial close processes through timely and accurate reinsurance claims data.
- Identify trends or potential exposure issues and recommend process improvements.
- Ensure all claims handling adheres to internal policies, reinsurance contracts, and regulatory requirements.
- Support internal and external audits, providing documentation and reconciliations as needed.
- Contribute to continuous improvement of claims and reinsurance processes and systems.
- Manages claims offices including investigation, evaluation, negotiation and settlement of claims as well as managing third-party relationships that involve claims.
- Manages internal team of claims analysts to support claims activities and works with claims adjusters to assign claim value.
- Reports claims status, updates and resolution to appropriate financial and reporting team members.
- Presents claims status, updates and resolution for quarterly reporting.
- Perform other job-related duties as assigned and necessary.
Benefits
- Relocation assistance
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What This Job Offers
Job Type
Full-time
Career Level
Senior
