Claims Operations Associate

Munich Re; Princeton (NJ); On-site; USD 51,000 - 60,000; Full time

Benefits offered by this job

Health insurance

Wellness program

Life and disability insurance

401k match

Retirement plan

Holidays and PTO

Job summary

Munich Re Specialty - North America in Princeton, NJ, seeks a Claim Operations Associate to support the claims team with reconciliation of financial transactions, processing payments, and assisting with collections and account replenishments.

You will ensure data quality in records, handle communications with internal and external partners, and support first notices and related correspondence, with proficiency in systems such as ISCyL, FSRI, and SharePoint.

Qualifications

• Excellent organizational, multi-tasking and time management skills.
• Ability to build and sustain internal and external business relationships.
• Enjoys working in a fast-paced work environment.
• Self-motivator and effective at prioritization.
• Proactive in identifying process improvements and adaptive to change.
• Collegial team member who contributes to an upbeat, inclusive environment.

Responsibilities

• Validate and accurately process lower to medium complexity financial transactions for claims that are being handled by the assigned TPAs, MGAs and Cover holders.
• Input payment data and issue timely payments to insureds, claimants, vendors and associated parties.
• Ensure that checks, ACH payments, and wire transfers are efficiently processed and recorded.
• Reconcile and process financial transactions related to account replenishments and reimbursements.
• Request, process and import third-party data submissions while identifying any issues/inconsistencies.
• Prioritize daily workload to ensure that all tasks are completed within their deadlines.
• Communicate clearly with internal and external stakeholders and with business partners.
• Demonstrate proficiency in multiple systems, including but not limited to: ISCyL, FSRI, SharePoint, workflow tools, and TPA claim-handling systems.
• Process incoming emails, and accurately create or update claim files based upon the incoming information.

Skills

Organization

Relationship building

Time management

Adaptability

Process improvement

Team player

Tools

ISCyL

FSRI

SharePoint

Workflow tools

TPA systems

Job description

All locations Princeton, United States; Philadelphia, United States;

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

The Claim Operations Associate is a vital part of the MRSNA Claims team.The Associate helps to ensure timely and efficient reconciliation of financial transactions across our claims portfolio, including the processing of payments, pursuing collections and recoveries, and assisting with account replenishments. The Associate also ensures reliable data quality in our incoming and outgoing financial records, manages communications with internal and external stakeholders and business partners, and helps to process first notices and loss and related correspondence.

Responsibilities

• Validate and accurately process lower to medium complexity financial transactions for claims that are being handled by the assigned TPAs, MGAs and Cover holders.
• Input payment data and issue timely payments to insureds, claimants, vendors and associated parties.
• Ensure that checks, ACH payments, and wire transfers are efficiently processed and recorded.
• Reconcile and process financial transactions related to account replenishments and reimbursements.
• Request, process and import third-party data submissions while identifying any issues/inconsistencies.
• Prioritize daily workload to ensure that all tasks are completed within their deadlines.
• Communicate clearly with internal and external stakeholders and with business partners.
• Demonstrate proficiency in multiple systems, including but not limited to: ISCyL, FSRI, SharePoint, workflow tools, and TPA claim-handling systems.
• Process incoming emails, and accurately create or update claim files based upon the incoming information.

Qualifications

• Excellent organizational, multi-tasking and time management skills.
• Ability to build and sustain internal and external business relationships.
• Enjoys working in a fast-paced work environment.
• Self-motivator and effective at prioritization.
• Proactive in identifying process improvements and adaptive to change.
• Collegial team member who contributes to an upbeat, inclusive environment.

The Company is open to considering candidates in Philadelphia (PA). The base salary range anticipated for this position is $51,000-60,000, plus opportunity for company bonus based upon a percentage of eligible pay.In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.