Claims Recovery Specialist - Workers' Compensation

CNA Insurance • Downers Grove, IL

1d • $54,000 - $103,000

About The Position

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential. This individual contributor position works with limited direction to identify subrogation potential, negotiate and pursue recoveries for moderately complex commercial claims in a specific line of business. Responsibilities include following company protocols to identify, evaluate, analyze and interpret subrogation potential, negotiate and collect reimbursements. JOB DESCRIPTION: Essential Duties & Responsibilities Performs a combination of duties in accordance with departmental guidelines: Oversees subrogation of moderate complexity commercial claims with recovery potential by taking appropriate steps to secure evidence needed to investigate third party liability, ensuring accuracy and completeness of information and recording and processing reimbursements associated with the loss, damage or injury. Proactively handles claims inventory by effectively managing diaries, maintaining accurate and timely claims file documentation, utilizing metrics and analytics, and escalating issues as needed. Provides excellent customer service by interacting professionally and effectively with insureds, claimants, and third party entities to ensure quality and cycle time standards are met, providing regular, timely updates and responding promptly to inquiries and requests for information. Leads interactions with appropriate internal and external partners, suppliers and experts by effectively collaborating with necessary resources to identify and facilitate reimbursements of paid claims. Uses investigation skills to gather relevant information internally as well as from third parties to support recovery efforts. Communicates effectively by preparing both verbal and written correspondence to insureds, claimants, vendors and responsible parties. May engage outside counsel to conduct additional investigation on files by providing insights on recovery opportunities, and partnering to ensure prompt and appropriate actions and follow up on recovery efforts. Manages expenses by timely and accurately resolving subrogation opportunities, selecting and actively overseeing appropriate vendor and/or outside counsel resources, and delivering high quality, timely service. Drives quality on every file by following all company guidelines, achieving quality and cycle time targets, ensuring proper documentation and securing appropriate recoveries from responsible parties. Maintains compliance with state/local regulatory requirements by following company guidelines, and staying current on commercial insurance laws, regulations or trends for line of business. May serve as a mentor/coach to less experienced recovery professionals and works on special projects, as needed. May perform additional duties as assigned.

Requirements

• Solid working knowledge of the commercial insurance industry, products, policy language, coverage, and recovery practices.
• Very good verbal and written communication skills with the ability to develop positive working relationships, summarize and present information to customers, claimants and senior management as needed.
• Demonstrated ability to develop collaborative business relationships with internal and external work partners.
• Ability to exercise independent judgement, solve moderately complex problems and make sound business decisions.
• Demonstrated investigative experience with an analytical mindset and critical thinking skills.
• Strong work ethic, with demonstrated time management and organizational skills.
• Demonstrated ability to manage multiple priorities in a fast-paced, collaborative environment at high levels of productivity.
• Developing ability to negotiate low to moderately complex recovery settlements.
• Adaptable to a changing environment.
• Knowledge of Microsoft Office Suite and ability to learn business-related software
• Demonstrated ability to value diverse opinions and ideas
• Bachelor's degree, in a related discipline, or equivalent.
• Typically a minimum of four years of related work experience, preferably in claims handling or recovery

Nice To Haves

• Prior experience with basic negotiations is preferred
• Applicable professional designations preferred (e.g. CPCU)

Responsibilities

• Oversees subrogation of moderate complexity commercial claims with recovery potential by taking appropriate steps to secure evidence needed to investigate third party liability, ensuring accuracy and completeness of information and recording and processing reimbursements associated with the loss, damage or injury.
• Proactively handles claims inventory by effectively managing diaries, maintaining accurate and timely claims file documentation, utilizing metrics and analytics, and escalating issues as needed.
• Provides excellent customer service by interacting professionally and effectively with insureds, claimants, and third party entities to ensure quality and cycle time standards are met, providing regular, timely updates and responding promptly to inquiries and requests for information.
• Leads interactions with appropriate internal and external partners, suppliers and experts by effectively collaborating with necessary resources to identify and facilitate reimbursements of paid claims.
• Uses investigation skills to gather relevant information internally as well as from third parties to support recovery efforts.
• Communicates effectively by preparing both verbal and written correspondence to insureds, claimants, vendors and responsible parties.
• May engage outside counsel to conduct additional investigation on files by providing insights on recovery opportunities, and partnering to ensure prompt and appropriate actions and follow up on recovery efforts.
• Manages expenses by timely and accurately resolving subrogation opportunities, selecting and actively overseeing appropriate vendor and/or outside counsel resources, and delivering high quality, timely service.
• Drives quality on every file by following all company guidelines, achieving quality and cycle time targets, ensuring proper documentation and securing appropriate recoveries from responsible parties.
• Maintains compliance with state/local regulatory requirements by following company guidelines, and staying current on commercial insurance laws, regulations or trends for line of business.
• May serve as a mentor/coach to less experienced recovery professionals and works on special projects, as needed.
• May perform additional duties as assigned.

Benefits

• CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.
• CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees