Senior Recovery & Salvage Specialist

AIG • Atlanta, GA

5d • Onsite

About The Position

This Senior Recover & Salvage Specialist role will be an ideal opportunity to develop your experience and expertise in claims. Make your mark in Claims General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network. Our Claims teams are the proven problem solvers of choice for clients, delivering consistent technical excellence and showcasing our service differentiation to create an unparalleled global claims handling experience. Through a robust stakeholder feedback loop and supported by consistent processes and leadership, we take pride in delivering responsive, fair and professional service with empathy and efficiency. The Global Recovery Services division focuses on all aspects of claims recovery including claims subrogation, salvage and third- party deductible collection, each process returning money back to the AIG member carriers. How you will create an impact The Senior Recovery & Salvage Specialist has both Subrogation and Salvage handling duties. Responsible for the end-to-end recovery process to include investigation, identification, and pursuit of Recovery/Subrogation opportunities to maximize amounts received from third parties who are wholly responsible or share liability for damages paid to claimants by AIG, while ensuring recovery expenses are minimized. With a focus on auto losses, you will be primarily supporting our commercial insurance lines of business. In the area of Salvage, you will be responsible for the vehicle and other property salvage process within the North American region. As a Salvage Specialist, you will work closely with our claims partners to determine if there are any salvage activities required, such as inventory review, preserving property, and vendor management. You will be responsible for overseeing all vendor activities from file referral through resolution, to maximize our salvage recoveries and minimize salvage expenses. This role regularly requires discretion and professional judgment in evaluating whether to pursue salvage/subrogation and negotiate recovery settlements.

Requirements

• College degree required.
• Five years’ experience within the Property & Casualty insurance industry required.
• Advanced working knowledge of Commercial Auto, Property and Specialty Lines.
• Advanced knowledge of recovery/claims-related state laws.
• Industry knowledge pertaining to evidence-securing techniques, vehicle damage and valuations, repairs, auto/property ownership transfers and salvage sales.
• Ability to work to tight timelines, when necessary, independently or within a team.
• Working knowledge of MS Office applications, experience with various database search systems, ability to perform research on local laws and statutes.
• Excellent oral and written communication skills.

Nice To Haves

• Multi-State Adjuster’s license preferred.

Responsibilities

• Handle salvage caseload across North America while ensuring all tasks are completed properly.
• Coordinates assignment to appropriate salvage vendor within approved vendor network.
• Obtain exceptions where necessary.
• Monitors vehicles or other property pickup status.
• Ensure inspection holds are placed when appropriately and reviewed on an ongoing basis.
• Coordinates documentation between salvage vendor and property owner.
• Assist in processing of paperwork related to a total loss of a vehicle such as: securing the original titles, original power of attorney, lien releases, odometer statements, and appraisals.
• Work with adjusters to obtain and enter the information into appropriate systems.
• Sell vehicles by monitoring the salvage site daily to resolve outstanding issues, negotiate or approve bids.
• Monitor sales, receipt of salvage sale net proceeds, and issue any deficit payments.
• Work closely with our claims partners to ensure early referral, reduced case cycle times, and promote methods of cost/expense reduction.
• Reviews assigned files for adequacy of investigation and recognition of recovery potential by claims personnel.
• Determine if recovery is feasible, investigates and evaluates liability issues, coordinates investigations by expert witnesses, proactively follows up with relevant parties, handles arbitrations, negotiates the best possible settlement under the terms of the contract, and refers cases to approved attorneys.
• Implement negotiation strategies and direct attorneys in managing agreed to subrogation plans.
• Corresponds with appropriate parties in accordance with established procedures regarding claim information, notice/demand of payment and related issues.
• Advises management of deficiencies in investigations conducted by claims personnel which result in diminished chances of recovery.
• Provides all investigative information to attorney-of-record, and monitors and controls case development and settlement to ensure that recovery potentials are met.
• Maintain a diary of facts and activity regarding assigned files, ensuring compliance with Statute of Limitation requirements.
• Researches, understands, and applies state laws that relate to each file.
• Keeps management advised of legislative, regulatory, and legal developments which may have an impact on recovery results.
• Forecasts potential recoveries and updates the recoverable amount as needed.
• Prepares activity reports on files over settlement authority.
• Approves and issues, within established guidelines and authority, indemnity, and legal payments through the appropriate Claims Processing Systems.
• Assist with ad-hoc duties, projects, training, court appearances and other assignments as required or delegated by Managers/Leaders.
• Manage caseload across relevant jurisdictions while ensuring all tasks are completed properly.
• Establish and maintain professional working relationships with the recovery team, claims partners, insureds, lawyers, vendors, and other internal/external customers.

Benefits

• Compensation for this position includes base salary and eligibility for a bonus in accordance with the terms of the applicable incentive plan.
• In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits
• At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
• We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.

What This Job Offers

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