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Allied World · 3 weeks ago

Reinsurance Claims Analyst

Iselin, NJ

Full-time

Onsite

Mid Level

$70K/yr - $80K/yr

Allied World is seeking a Reinsurance Claims Analyst who will be responsible for the analysis, investigation, negotiation, compromise, and settlement of assumed reinsurance claims. The role involves preparing reports, coordinating with various stakeholders, and managing claims-related tasks within the department.

FinanceFinancial ServicesInsurance

Growth Opportunities

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

Qualification

Reinsurance claims analysisClaims reportingNegotiation skillsStatistical analysisFinancial evaluation

Required

Responsible for the analysis, investigation, negotiation, compromise and settlement of assumed reinsurance claims within granted authority level

Responsible for assigned claim reviews, special reports, and assisting with routine department administrative tasks as assigned

When assigned, responsible for analysis, reporting and billing claims to reinsurers of the company

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 claims

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

Company

Allied World

About Allied World Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions.

Founded in 2001