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Demonstrate technical proficiency in resolving recovery of claims;
Investigate and identify third parties, determines liability, and uses all available resources to maximize the recovery;
Communicate with policyholders to gather information regarding the claim use internal and external resources when appropriate;
Notify third party and/or third party insurance carrier of our subrogation and right of recovery;
Make appropriate referrals to legal counsel to initiate litigation or intervene when appropriate;
Post Action Plan outlining the course of action to bring the subrogation claim to resolution with target dates;
Ensure claim file has all documents to support subrogation recovery efforts. Manage a timely diary and follow up system on case assignments. Create a recovery log with an estimation of the dollars expected to recover;
Use sound communication skills to successfully negotiate recoveries with third parties;
Update files and provide comprehensive reports as required. Adhere to instructions in recovery efforts, status updates and notification of final disposition;
Cheque posting and tracking of aging cases;
Take accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks;
Maintain awareness of industry trends on regulatory compliance, emerging threats and appropriate steps to mitigate the risks; and
Highlight any potential concerns/risks and proactively shares best risk management practices.
Any other ad-hoc duties as assigned.
Bachelor's Degree, insurance qualifications or equivalent experience;
At least 3 years of insurance claims recovery/handling experience is preferred;
Strong verbal and written communication skills;
Team player as well as capable of individual performance;
Technical knowledge of multiple claims lines;
Excellent organizational and time management skills;
Good interpersonal, analytical and negotiation abilities required;
Knowledge of life insurance policy coverage, statutes, regulations and subrogation processing is a plus;
High level of integrity, takes accountability of work and good attitude over teamwork; and
Takes initiative to improve current state of things and adaptable to embrace new changes.
To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.