Workers Compensation - Benefit Management Analyst

$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 with a focus on stable lifetime indemnity and medical benefits. The role requires resolving claims efficiently while collaborating with various resources to ensure timely and effective claim resolution. The ideal candidate will have strong analytical and communication skills, along with a foundational understanding of insurance contracts and legal knowledge relevant to the claims process.

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.
• Participate in telephonic and/or onsite file reviews and respond to inquiries.

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.
• Basic negotiation skills to influence stakeholders and reach agreements.
• Working knowledge of insurance contracts and policies.
• Introductory investigative skills for accurate event reconstruction.
• Basic ability to determine liability and assign dollar values to claims.
• Understanding of state, federal, and regulatory laws applicable to the insurance industry.
• Working knowledge of medical conditions and treatment needs.

Nice-to-haves

• College degree highly preferred.
• Advanced customer service skills to build and maintain relationships.
• 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 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 caregiving needs.
• Volunteer encouragement with Matching Gift and Volunteer Rewards program.