Benefit Management Analyst - Workers Compensation

$46,200 - $76,200/Yr

020 Travelers Indemnity Co - Saint Paul, MN

Full-time - Entry Level

Saint Paul, MN

10,001+ employees

About the position

The position involves managing Workers' Compensation Claims under moderate supervision, focusing on stable lifetime indemnity and medical benefits. The role requires effective communication, negotiation, and collaboration with various resources to ensure timely claim resolution and customer engagement.

Responsibilities

• Manage and resolve stable lifetime claims.
• Facilitate timely claim resolution by leveraging mitigation opportunities.
• Establish and update reserves to reflect claim exposure and document rationale.
• Collaborate with specialty resources to pursue claim resolution opportunities.
• Negotiate settlement of claims within designated authority.
• Manage cases telephonically with an emphasis on quality and cost control.
• Review, approve and issue accurate and timely indemnity, medical and expense payments.
• Complete required letters and state forms as necessary.
• Develop and execute resolution strategies for claims.
• Evaluate and document detailed settlement analysis and communicate status.

Requirements

• High School Diploma or GED and one year of customer service experience OR Bachelor's Degree required.
• Analytical Thinking: Ability to analyze and synthesize information to understand issues and explore alternative solutions.
• Communication: Clear expression of thoughts orally and in writing.
• Negotiation: Basic ability to influence stakeholders and reach agreements.
• Working Insurance Contract Knowledge: Ability to interpret policies and apply loss facts to policy conditions.
• Principles of Investigation: Introductory investigative skills to reconstruct events related to the loss.
• Value Determination: Basic ability to determine liability and assign a dollar value based on damages claimed.
• Settlement Techniques: Basic ability to assess how a claim will be settled.
• Legal Knowledge: Understanding of state, federal, and regulatory laws applicable to the insurance industry.
• Medical Knowledge: Understanding of injuries, periods of disability, and treatment needed.

Nice-to-haves

• Experience in Workers' Compensation claims management.
• Advanced customer service skills.
• Teamwork: Ability to work collaboratively in interdependent situations.
• Planning & Organizing: Ability to establish plans to meet goals.

Benefits

• Health Insurance coverage from the first day of employment.
• 401(k) matching contributions dollar-for-dollar up to 5% of eligible pay.
• Pension Plan fully funded by Travelers.
• Minimum of 20 days Paid Time Off annually plus nine paid company Holidays.
• Access to wellness programs and mental health resources.
• Volunteer encouragement with matching gift and volunteer rewards programs.