Workers Compensation Benefit Analyst Entry Level

$46,400 - $76,600/Yr

Travelers - Tampa, FL

Full-time - Entry Level

Tampa, FL

Insurance Carriers and Related Activities

About the position

The Workers Compensation Benefit Analyst position is an entry-level role focused on managing and resolving Workers' Compensation claims under moderate supervision. The role involves handling stable lifetime claims, facilitating timely claim resolutions, and collaborating with various resources to ensure effective claim management. This hybrid position allows for a combination of in-office and remote work, providing flexibility while maintaining a strong commitment to customer service and operational excellence.

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 for claims.
• Complete required letters and state forms as necessary.
• Determine and apply offset/contribution from third parties and other sources.
• Develop and execute resolution strategies for claims.
• Communicate and complete denials on medical and indemnity issues.
• Evaluate and document detailed settlement analysis and negotiation strategies.
• Engage with customers to keep them informed about claim status.

Requirements

• High School Diploma or GED and one year of customer service experience OR Bachelor's Degree required.
• Analytical thinking skills to identify and analyze problems or opportunities.
• Strong communication skills for clear expression of thoughts both orally and in writing.
• Basic negotiation skills to influence stakeholders and reach agreements.
• Working knowledge of insurance contracts and policies.
• Introductory investigative skills to gather and analyze information related to claims.
• Basic ability to determine liability and assign dollar values to claims.
• Understanding of legal knowledge relevant to the insurance industry.
• Basic medical knowledge regarding injuries and treatment needs.

Nice-to-haves

• College degree highly preferred.
• Advanced customer service skills to build and maintain relationships.
• Teamwork skills to collaborate effectively with others.
• Intermediate planning and organizing skills for establishing action plans.

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 contributions 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 and resources for health and mental well-being.
• Volunteer encouragement with a Matching Gift and Volunteer Rewards program.