The Cincinnati Insurance Companies - Fairfield, CT

posted about 1 month ago

Full-time - Entry Level
Hybrid - Fairfield, CT

About the position

The Claims Recovery - Property Salvage Specialist I at The Cincinnati Insurance is responsible for overseeing the salvage process to maximize net returns and mitigate costs associated with property salvage. This role involves providing direction and support to Field Claims and other associates, assessing salvage opportunities, and developing policies and procedures related to property salvage. The position is based in Fairfield, OH, and offers a hybrid work environment.

Responsibilities

  • Pursue new vendor relationships and maintain existing ones.
  • Create and develop property salvage policies and procedures with recovery management.
  • Perform file reviews and create programs for enhanced property salvage returns.
  • Review and approve vendor expense payments in a timely and accurate manner.
  • Provide training and expertise to Field Claims, SIU, HQ Claims management, and vendors on property salvage claims, recovery, and fraud concerns.
  • Supervise and negotiate high net worth property salvage claims, including watercraft.
  • Supervise and maintain a jewelry salvage program, including its vendors.
  • Research abandonment, storage, and other expenses from internal and outside sources that impact property salvage settlements.

Requirements

  • High school diploma or equivalent.
  • Three or more years of claims handling experience (required); salvage experience (preferred).
  • AIC designation (or the willingness to successfully complete the designation within a three-year timeframe).
  • Active arbitration panelist designation (or the willingness to successfully complete the designation).
  • Knowledge of Claims Management System (preferred).
  • Strong verbal and written communication skills.
  • Ability to learn claims handling statutory requirements to ensure compliance.
  • Working knowledge of Microsoft® Office Suite.
  • Basic accounting knowledge (preferred).
  • Willingness to take on new responsibilities.

Benefits

  • Annual cash bonus based on company and individual performance.
  • Stock incentives based on company and individual performance.
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