Reinsurance Claim Specialist

Full-time - Mid Level

Red Bank, NJ

Management of Companies and Enterprises

About the position

This is your opportunity to join AXIS Capital - a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry. At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work. All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.

Responsibilities

• Proactively manage claims from notification through closure, investing the necessary level of involvement required for each claim depending on the nature of it.
• Analyze and determine eligibility of claims, verify claims are correctly ceded and verify proper policy provisions and limits are applied.
• Establish and monitor appropriate reserves.
• Resolve claims questions directly with cedents or brokers in a professional manner.
• Engage with cedents, brokers and 3rd party vendors, to identify opportunities to assist in mitigation of claims utilizing a suite of cost containment services.
• Collaborate with other team members, including technical accounting, to get valid claims paid accurately and promptly within your authority level.
• Conduct claim audits for existing accounts/clients. Travel may be required.
• Collaborate with AXIS Re colleagues by sharing pertinent loss development information with underwriters and actuaries.
• Build strategic relationships in the industry to support informed and best in class reinsurance claims handling.
• Interact with colleagues across the organization to support strategic initiatives.
• Identify developing trends and anomalies in your book of claims and recommend appropriate strategies which could include changes to procedures, cost containment strategies, and client or peer education presentations, among other strategies.
• Participate in professional associations/professional development activities and industry conferences to gain expertise, industry information and insights, and to network.
• Identify process improvements to be reviewed and approved by more senior management.
• Engage in department wide initiatives.
• May be asked to prepare presentations for clients or colleagues from time to time.

Requirements

• Bachelor's Degree or equivalent experience in insurance or reinsurance.
• 5+ years experience with Employer Stop Loss, Fully Insured, and Managed Care claims adjudication.
• A firm understanding of insurance and reinsurance terminology, including familiarity with various lines of business insurance coverage and reinsurance treaty types.
• The ability to evaluate insurance claims and exposures for proper reserving under a reinsurance program.
• An understanding of common reinsurance contract terms and conditions, including business covered, common exclusions, aggregate limits, treaty limits, retentions, how to apply annual aggregate deductibles, and the impact of the reinsurance contract terms and policy conditions to each claim.
• Ability to communicate with brokers and cedents in a timely and concise manner.
• Strong Microsoft Word and Excel skills.

Nice-to-haves

• High standard of professional conduct.
• Strong analytical and organizational skills.
• Ability to liaise with individuals across a variety of operational and technical disciplines.
• Ability to read and interpret medical reports, clinical experience a plus.

Benefits

• Base salary in the range of $120,000 - $160,000 USD.
• Competitive target incentive compensation based on overall corporate and individual performance.
• Comprehensive and competitive benefits package including medical plans for you and your family, health and wellness programs, retirement plans, paid vacation, and much more.