Senior Life Sciences Claims Strategist

CNA Insurance; Princeton (NJ); On-site; USD 72,000 - 141,000; Full time

Job summary

CNA Insurance in Princeton, NJ seeks an experienced claims professional to manage highly complex commercial claims with large exposures, coordinating investigations and settlements. You will verify coverage, establish reserves, and lead investigations with internal and external partners to resolve claims efficiently.

Requires a Bachelor's degree or equivalent, six years of relevant experience, and an Insurance Adjuster License within 90 days.

Qualifications

• Bachelor's degree or equivalent experience.
• Typically six years of relevant experience, preferably in claim handling.
• Must have or be able to obtain and maintain an Insurance Adjuster License within 90 days of hire where applicable.
• Prior negotiation experience.
• Professional designations preferred (e.g. CPCU).

Responsibilities

• Manages an inventory of highly complex commercial claims with large exposures that require a high degree of technical expertise and coordination, by following company protocols to verify policy coverage, conduct investigations, develop and employ resolution strategies, and authorize disbursements within authority limits.
• Ensures exceptional customer service by managing all aspects of the claim, interacting professionally and effectively with insureds, claimants and business partners, achieving quality and cycle time standards, providing timely updates and responding promptly to inquiries and requests for information.
• Verifies coverage and establishes timely and adequate reserves by reviewing and interpreting policy language and partnering with coverage counsel on more complex matters, estimating potential claim valuation, and following company's claim handling protocols.
• Leads focused investigation to determine compensability, liability and covered damages by gathering pertinent information, such as contracts or other documents, taking recorded statements from customers, claimants, injured workers, witnesses, and working with experts, or other parties, as necessary to verify the facts of the claim.
• Resolves claims by collaborating with internal and external business partners to develop, own and execute a claim resolution strategy, that includes management of timely and adequate reserves, collaborating with coverage experts, negotiating complex settlements, partnering with counsel to complex manage litigation and authorizing payments within scope of authority.
• Establishes and manages claim budgets by achieving timely claim resolution, selecting and actively overseeing appropriate resources, authorizing expense payments and delivering high quality service in an efficient manner.
• Realizes and addresses subrogation/salvage opportunities or potential fraud occurrences by evaluating the facts of the claim and making referrals to appropriate Claim, Recovery or SIU resources for further investigation.
• Keeps leadership informed of significant risks and losses by completing loss summaries, identifying claims to include on oversight/watch lists, and preparing and presenting succinct case summaries to senior management.
• Maintains subject matter expertise and ensures compliance with state/local regulatory requirements by following company guidelines, and staying current on commercial insurance laws, regulations or trends for line of business.
• Mentors, guides, develops and delivers training to less experienced Claim Professionals.

Skills

Communication skills

Analytical mindset

Negotiation skills

Attention to detail

Time management

Policy interpretation

Multiple priorities

Professional demeanor

Education

Bachelor's degree or equivalent

Insurance Adjuster License

CPCU designation preferred

Tools

Microsoft Office Suite

Claim management software

Job description

CNA Insurance in Princeton, NJ seeks an experienced claims professional to manage highly complex commercial claims with large exposures, coordinating investigations and settlements. You will verify coverage, establish reserves, and lead investigations with internal and external partners to resolve claims efficiently.

Requires a Bachelor's degree or equivalent, six years of relevant experience, and an Insurance Adjuster License within 90 days.