Join the Travelers Team as an Entry Level Workers Compensation Claim Analyst
Embark on a rewarding career journey with Travelers, a leading property casualty insurer, as an Entry Level Workers Compensation Claim Analyst! This exciting Remote opportunity offers an immediate start and a chance to make a meaningful impact in the lives of our customers. As a key member of our team, you will have the opportunity to drive success and grow your career in a dynamic and innovative environment.
About Travelers
At Travelers, we are committed to taking care of our customers, our communities, and each other. For over 160 years, we have maintained our reputation as one of the best property casualty insurers in the industry. Our culture is rooted in innovation and thrives on collaboration, providing a unique and supportive work environment that allows our employees to grow and succeed.
What Is the Opportunity?
As an Entry Level Workers Compensation Claim Analyst, you will play a critical role in managing Workers' Compensation Claims with stable lifetime indemnity and/or medical benefits. You will work under moderate supervision to resolve claims efficiently and effectively, utilizing your analytical, communication, and negotiation skills to drive successful outcomes.
Key Responsibilities:
- Manage and resolve stable lifetime claims, including those with settlement opportunities, death benefits, and minimal active/pending litigation.
- Use structured settlement/annuity as appropriate for the jurisdiction.
- Manage existing offsets, including apportionment, contribution, and subrogation.
- Facilitate timely claim resolution by leveraging mitigation opportunities.
- Establish and update reserves to reflect claim exposure and document rationale.
- Collaborate with specialty resources, such as medical and legal professionals, to proactively pursue claim resolution opportunities.
- Apply knowledge to determine causal relatedness of medical conditions.
- Negotiate settlement of claims within designated authority.
- Proactively manage inventory with documented plans of action to ensure timely and appropriate file closure or reassignment.
- Manage cases telephonically with an emphasis on maximizing quality and controlling costs through aggressive case resolution.
- Review, approve, and issue accurate and timely indemnity, medical, and expense payments for lifetime/long-term claims.
- Determine the value of claims and complete required letters and state forms.
- Establish and maintain incurred costs, which reflect the exposure of the claim, and document a clear reserve rationale.
- Apply coverage (limits, endorsements) and determine and apply offset/contribution from 3rd party, second injury fund, liens, etc.
What Will Our Ideal Candidate Have?
To succeed in this role, you will need to possess a combination of analytical, communication, and negotiation skills, as well as knowledge of insurance contracts, workers' compensation laws, and claims handling procedures.
Essential Qualifications:
- High School Diploma or GED and one year of customer service experience OR Bachelor's Degree required.
- Analytical Thinking: Identifies current or future problems or opportunities; analyzes, synthesizes, and compares information to understand issues; identifies cause/effect relationships; and explores alternative solutions that support sound decision-making.
- Communication: Expresses, summarizes, and records thoughts clearly and concisely orally and in writing by applying proper content, format, sentence structure, grammar, language, and terminology.
- Negotiation: Basic ability to understand alternatives, influence stakeholders, and reach a fair agreement through discussion and compromise.
- Working Insurance Contract Knowledge: Interprets policies and contracts, applies loss facts to policy conditions, and determines whether or not a loss comes within the scope of the insurance contract.
Preferred Qualifications:
- College degree highly preferred.
- Principles of Investigation: Introductory investigative skills, including the ability to take statements.
- Value Determination: Basic ability to determine liability and assign a dollar value based on damages claimed and estimates.
- Settlement Techniques: Basic ability to assess how a claim will be settled, when and when not to make an offer, and what should be included in the settlement offer package.
- Legal Knowledge: Working knowledge, understanding, and application of state, federal, and regulatory laws and statutes, rules of evidence, chain of custody, trial preparation and discovery, court proceedings, and other rules and regulations applicable to the insurance industry.
- Medical knowledge: Working knowledge of the nature and extent of injuries, periods of disability, and treatment needed.
What Is in It for You?
At Travelers, we offer a comprehensive compensation and benefits program that rewards our employees for their hard work and dedication.
Compensation Overview:
- The annual base salary range for this position is $46,200.00 - $76,200.00, depending on factors such as location, experience, and qualifications.
- Performance-based cash incentive awards.
Benefits:
- Health Insurance: Employees and their eligible family members are eligible for coverage from the first day of employment.
- Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum.
- Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
- Wellness Program: The Travelers wellness program is comprised of tools, discounts, and resources that empower you to achieve your wellness goals and caregiving needs.
- Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved.
Career Growth Opportunities and Learning Benefits:
At Travelers, we are committed to the growth and development of our employees. We offer a range of training and development programs, including:
- Professional development opportunities.
- Mentorship programs.
- Leadership development.
- Industry-specific training.
Work Environment and Company Culture:
At Travelers, we strive to create a work environment that is inclusive, supportive, and rewarding. Our company culture is built on the principles of innovation, collaboration, and customer focus.
- Remote work opportunity.
- Collaborative and dynamic work environment.
- Opportunities for growth and development.
How to Apply:
If you are a motivated and detail-oriented individual with a passion for customer service and claims handling, we encourage you to apply for this exciting opportunity.
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We Encourage You to Apply!
Even if you feel you're not a perfect match, we'd still love to hear from you. We are looking for great people to join our friendly team.
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