Senior Claims Analyst

Risk Strategies • Sparks, MD

2d

About The Position

As a Senior Claims Specialist, you will manage 3rd party claims, providing technical guidance, support analytics, and liaise with TPAs, legal, and clients in the claims review process. You will be specifically be responsible for managing and overseeing claims in captive insurance programs. Captive insurance refers to a form of self-insurance where a company creates its own insurance company to cover its risks. In this role, you will work closely with clients, insurance brokers, and underwriters to ensure timely and accurate claims handling. Your Impact: Review and assess claims submitted by clients within captive insurance programs. Investigate and gather necessary information to determine the validity of claims. Collaborate with internal teams, external vendors, and legal counsel to resolve complex claims issues. Negotiate settlements and manage claims payments in accordance with policy terms and conditions. Provide guidance and support to junior claims specialists in handling claims effectively. Monitor claims trends and provide recommendations for process improvements to enhance efficiency and customer satisfaction. Maintain accurate claims records and documentation in compliance with regulatory requirements. Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, the firm serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices and 5,300 employees across the US and Canada. Industry recognition includes being named a Best Places to Work in Insurance for five consecutive years (2018-2022) and to the Inc. 5000 list as one of America’s Fastest Growing Private Companies. Risk Strategies is committed to being good stewards for our company, culture, and communities by having a strong focus on Environmental, Social, and Governance issues.

Requirements

• Bachelor's degree in Insurance, Risk Management, Business Administration, or related field.
• Minimum of 5 years of experience in claims management, preferably in captive insurance or a related industry.
• Strong knowledge of insurance policies, coverage terms, and claims handling procedures.
• Excellent analytical and problem-solving skills with attention to detail.
• Effective communication and negotiation skills to interact with various stakeholders.
• Ability to work independently and prioritize tasks in a fast-paced environment.

Nice To Haves

• Professional certifications such as CPCU, AIC, or ARM are a plus.

Responsibilities

• Review and assess claims submitted by clients within captive insurance programs.
• Investigate and gather necessary information to determine the validity of claims.
• Collaborate with internal teams, external vendors, and legal counsel to resolve complex claims issues.
• Negotiate settlements and manage claims payments in accordance with policy terms and conditions.
• Provide guidance and support to junior claims specialists in handling claims effectively.
• Monitor claims trends and provide recommendations for process improvements to enhance efficiency and customer satisfaction.
• Maintain accurate claims records and documentation in compliance with regulatory requirements.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees