Claims Specialist, Financial Lines

Ohio Farmers Insurance Company; Berkeley Heights (NJ); On-site; USD 50,000 - 70,000; Full time

Job summary

A national insurance provider is seeking a Claims Adjuster to manage financial lines fraud and theft claims, focusing on customer service and detailed claims handling. Candidates should have a Bachelor's degree and 1-3 years of relevant experience. Strong communication, analytical skills, and the ability to work in a fast-paced environment are essential. The role includes collaboration with various stakeholders and managing outside vendors. Licenses and certifications in claims management are preferred.

Qualifications

• Minimum of 1 to 3 years of experience at a specialty insurance carrier or law firm.
• Experience with plastic card and employment practices liability claims.
• Ability to obtain and maintain insurance adjuster licenses.

Responsibilities

• Handle financial lines plastic card fraud and theft claims.
• Manage claims through all phases from contact to resolution.
• Provide excellent customer service to internal and external clients.

Skills

Excellent written communication skills

Excellent verbal and interpersonal communication skills

Strong analytic skills

Investigation skills

Negotiation skills

Detail-oriented

Multi-tasking

Education

Bachelor's degree

Juris Doctor degree

Tools

Microsoft Windows

Microsoft Outlook

Microsoft Excel

Job description

Duties and Responsibilities:

• Directly handle, manage and/or oversee financial lines plastic card fraud and theft claims; and employment practices liability claims.
• Handle claims in accordance with Claim Handling Best Practices in all phases of the claim including through initial contact, investigation of the claim, evaluation the claim for coverage and reserving for exposure, and in the resolution and documentation of claims.
• Provide top-notch customer service through all interactions and communications including with internal and external customers and business partners.
• Review and evaluation of policies to determine coverage.
• Resolve coverage-related matters working collaboratively with outside counsel when necessary.
• Complete written reports and present claims to management, underwriting, actuary and reinsurers on claim developments as needed.
• Adhere to all statutory regulations and Unfair Claims Practices Acts.
• Consistently communicate claim developments, exposure analyses and requests for authority to claims management.
• Participate in mediations, settlement conferences and otherwise see claims through to resolution.
• Work closely with underwriting and other business partners to review, analyze, and communicate claim trends and help develop policy language.
• Along with underwriting, attend current and prospective meetings with insureds and brokers.
• Work with and manage outside vendors, including outside attorneys to manage budgets and oversee litigation.

Qualifications:

• Minimum of 1 to 3 years of experience at either a specialty insurance carrier and/or law firm.
• Plastic card and EPL experience. Financial institutions E&O and D&O a plus.
• Bachelor's degree required.
• Juris Doctor degree from an accredited law school a plus.
• Candidates will be required to obtain and maintain insurance adjuster licenses.
• Excellent written communication skills.
• Excellent verbal and interpersonal communication skills, resulting in the ability to interact with all levels of management and employee population.
• Strong analytic, investigative, listening and negotiation skills.
• Experience multi-tasking, prioritizing work and working effectively in a team environment, while maintaining attention to detail.
• Experience working in a fast-paced environment, completing work with limited supervision.
• Experience with Microsoft Windows, Outlook, and Excel or transferable software packages.
• Ability and willingness to travel as needed.

Licenses and Certifications

• Certified Professional Claims Management (CPCM) (preferred)
• Certified Claims Adjuster (CCA) (preferred)
• Chartered Property Casualty Underwriter (CPCU) (preferred)

Behavioral Competencies

• Collaborates
• Communicates Effectively
• Customer Focus
• Decision Quality
• Nimble Learning

Technical Skills

• Account Management
• Claims Investigations
• Claims Adjustment
• Claims Resolution
• Claims Settlement
• Financial Controls
• Auditing
• Claims Case Management
• Customer Relationship Management
• Business Process Improvement
• Auditing
• Data Analysis and Reporting

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.