Claim Representative Bond & Specialty Insurance

$62,200 - $102,600/Yr

Travelers - Philadelphia, PA

Full-time - Entry Level

Philadelphia, PA

Insurance Carriers and Related Activities

About the position

As a Claim Representative in the Bond and Specialty Insurance (BSI) Claims division, you will be responsible for managing claims of moderate severity and complexity. This role involves conducting thorough investigations, analyses, and evaluations of claims while providing superior customer service. You will collaborate with internal and external stakeholders to ensure effective claim resolution and compliance with established processes and best practices.

Responsibilities

• Handle and resolve claims of moderate severity and complexity with moderate supervision.
• Conduct in-depth investigations and analysis of claims, identifying potential risks, liabilities, and coverage issues.
• Negotiate settlements and review Bond/Insurance policies, agreements, contracts, and legal documents to confirm coverage.
• Work with claim management to assess claim exposures and develop effective strategies for resolution.
• Interact and collaborate with internal departments and external business associates as needed.
• Maintain thorough documentation of claim activities, decisions, and communications, adhering to confidentiality protocols.
• Communicate and collaborate with outside counsel to manage litigation effectively.
• Prepare reports to management reflecting loss development, financial exposure, coverage issues, and recovery strategies.
• Identify recovery opportunities and coordinate efforts with the Recovery Management Unit and claims management.
• Ensure stakeholders/customers feel secure, respected, and cared for throughout the claims process.

Requirements

• High school diploma or GED required.
• Two years of professional work experience, with one year of claim handling experience required.
• Bachelor's degree strongly preferred.
• Three years of claim handling experience preferred.
• General knowledge of legal terminology and legal research.
• Intermediate grammar and writing skills for clear claim documentation.
• Proficient in using legal research software (e.g., Westlaw, Pacer, LexMachina), Microsoft Office, and PDF Software.

Nice-to-haves

• Experience in customer service roles.
• Knowledge of insurance policies and claims processes.
• Ability to work collaboratively in a team environment.

Benefits

• Health Insurance coverage from the first day of employment for employees and eligible family members.
• 401(k) retirement plan with dollar-for-dollar matching 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.
• Wellness Program with tools, discounts, and resources for health and caregiving needs.
• Access to free professional counseling services and health coaching through the mental health program.
• Volunteer Encouragement with a Matching Gift and Volunteer Rewards program.