Reinsurance Claims Analyst

Allied World•Woodbridge Township, NJ

7h•$70,000 - $80,000

About The Position

Responsible for the analysis, investigation, negotiation, compromise and settlement of assumed reinsurance claims within granted authority level, and also responsible for assigned claim reviews, special reports, and assisting with routine department administrative tasks as assigned. Also, when assigned, they are responsible for analysis, reporting and billing claims to reinsurers of the company.

Responsibilities

Analyze claim notices for proper attachment to reinsuring agreements and years of account.
Identify and evaluate notices for potential exposure to the company’s financial interest. Prepare claim correspondence to brokers and ceding companies on questions of
Investigate, follow-up, and otherwise monitor the development of claims. Establish and authorize adequate reserve amounts based on evaluation of liability, damages and other obligations set forth in the reinsuring agreements.
Negotiate settlements and compromise payments within specified authority with authorization and under supervision of VP Reinsurance Claims Set-up and authorize claim payments within specified authority.
Liaise with underwriters, legal counsel and outside vendors on coverage, liability, damages and settlement issues when assigned.
Prepare claim and statistical reports on both ceded and assumed business when requested by SVP or VP Reinsurance Claims
Prepare and present case evaluations to claims, underwriting and corporate management.
Coordinate strategies for resolving coverage disputes.
Assist in projects and reports as required.
When assigned to ceded reinsurance business, create reporting and billing files for direct claims
Prepare and present reports and invoices to reinsurers of the company
Participate as requested in settlement and collection of disputed collections of ceded reinsurance balances from the company’s reinsurers
Maintain the system for identifying, billing, and collecting outward reinsurance claims on all lines of direct business when assigned to the ceded reinsurance administration area
Perform claim reviews of assumed reinsurance accounts as requested, remotely or on-site