Claims Analyst
Description
Job Title:Claims Analyst
Department:
Old Republic Allied Management Company "ORAMCO"
Shift:
Flexible / Hybrid
Location: 307 N Michigan Ave, Chicago, IL
About Old Republic:
Old Republic International Corporation traces its beginnings back to 1923.
Old Republic is one of America's 50 largest shareholder-owned insurance businesses and currently ranks among the Fortune 500 list of the Nation's biggest companies.
Old Republic is primarily a commercial lines underwriter serving the insurance needs of a large number of organizations, including many of America's leading industrial and financial services institutions.
Located on Michigan Avenue, in the heart of downtown Chicago ("The Loop"), the Old Republic Building (Headquarters) is close to several public transportation lines and parking locations.
This is an excellent opportunity to join a high-performing insurance claims and full-service underwriting organization in an exciting role located in one of Chicago's most recognizable and desirable neighborhoods along the "Miracle Mile".
Reporting to the Litigation Counsel/Director of Claims, the Claim Analyst role will challenge claims or accounting professionals who seek to broaden their experience in complex, direct insurance and reinsurance claims functions.
This is a rare opportunity to join a growing organization where all your business acumen and people skills can be harnessed to achieve a noble purpose in a meaningful way.
Responsibilities include the following. Additional responsibilities may be assigned as necessary.Claims Analyst duties will include, but are not limited to:
Help manage relationships with TPAs, insureds, reinsureds, and reinsurers by working with internal and external accounting and claims personnel to resolve insurance and reinsurance claim issues, billing errors, or other discrepancies with respect to direct claims and reinsurance presentations.
Perform initial direct claims and reinsurance invoice calculations, including determining the amount of loss payment due and expense payment due if applicable.
Identify the correct Company policy(s) or reinsurance contract(s) that respond to direct claim submissions and/or reinsurance cessions. Manage triage of incoming submissions.Enter financial and other claim data into various computer databases.
Draft claim correspondence and create spreadsheets for financial and claim reporting.
Assist Litigation Counsel/Director of Claims with audit of claim files maintained by external partners as well as internal customers.
Some business travel may be required.
Experience/Required Skills:
Associate's degree in Accounting, Finance, or Business Administration, or similar certification from college or university; Bachelor's degree preferred.
High proficiency in Microsoft Office, Excel, Word, and Power Point software.
Comfort with and basic command of computer technologies
Strong organizational skills, including being able to understand and manage complex organizational matrixes
Good understanding of claims processing including first notice of loss reporting, claim triage, indexing and updating financial claim information to database.
Strong mathematical skills.
Experience communicating with external customers in writing, via phone and in person.
Three years experience with accounting, finance, or insurance functions
Workers Compensation Adjuster license or commitment to secure license within first six months of employment
Preferred Experience/Skills:
Experience working with insurance and/or reinsurance claims computer databases including legacy claim systems.
Basic Accounting Skills
Proficient in basic, direct claim and reinsurance cession invoice calculations; familiarity with A&E or run-off claims.
Old Republic International "ORI" is an Equal Opportunity Employer.
ORI provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.