Claim Executive

Travelers • Hartford, CT

1d

About The Position

As a Claim Executive, you will fulfill the Bond and Specialty Insurance (BSI) Claims mission by conducting thorough investigations, analyses, evaluations, and dispositions of claims as well as providing superior customer service in order to achieve desired results. Effectively manage all assigned BSI claims, typically of advanced to highest severity and complexity. Interact and collaborate with claim and underwriting colleagues as well as with external business associates (insureds, vendors, agents).

Requirements

• Associate’s degree.
• Six years of previous claim handling work experience.

Nice To Haves

• Bachelor’s degree.
• Eight years of claim handling experience.
• Expert knowledge of legal terminology and skilled in legal research to effectively lead the claim process.
• Advanced grammar and writing skills with the ability to develop comprehensive, clear, and concise claim documentation.
• Proficient in using legal research software (e.g. Westlaw, Pacer, LexMachina), Microsoft Office and PDF Software.

Responsibilities

• Handle and resolve claims of advanced to highest severity and complexity with minimal supervision, including conducting in-depth investigations and analysis, identifying potential risks, liabilities, and coverage issues, and the negotiation of settlements.
• Independently conduct thorough review of Bond/Insurance policies, agreements, contracts, and legal documents to confirm coverage and obligations.
• Independently assess claim exposures and develop effective strategies for claim resolution.
• Interact and collaborate with internal departments as needed.
• Ensure compliance with BSI claims processes, procedures, and best practices, offering guidance and insights to internal stakeholders and clients as needed.
• Maintain thorough documentation of claim activities, decisions, and communications, adhering to record-keeping standards and confidentiality protocols.
• Communicate and strategically collaborate with outside counsel to proactively manage and strategize effective litigation, ensuring alignment with organizational goals.
• Independently prepare reports to management to accurately reflect loss development, potential/actual financial exposure, coverage issues, projected/actual recoveries and propose claim, recovery, and resolution strategies.
• Identify all recovery opportunities and, where appropriate, coordinate recovery efforts with the Recovery Management Unit and claims management.
• Ensure stakeholders/customers feel secure, respected, and cared for throughout the duration of the claims process.
• To perform the essential functions of this job, acquisition and maintenance of Insurance License(s) is required to comply with state and Travelers’ requirements. Generally, license(s) must be obtained within three months of starting the job and must obtain ongoing continuing education credits as mandated.
• Offer guidance, mentorship, and training to less experienced claims representatives to enhance their skills in claim handling performance.
• Perform other duties as assigned.

Benefits

• Health Insurance : Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: Associate degree
• Number of Employees: 5,001-10,000 employees