Sr Annuity Claims Specialist

Sr Annuity Claims Specialist

Requirements

• Strong customer service orientation and able to work with customers in a professional and empathetic manner
• Have a strong sense of teamwork. Work harmoniously with peers within a team environment to accomplish both personal and team performance goals.
• Strong analytical and problem-solving skills to review documents and reach sound decisions.
• Ability to prioritize multiple tasks and meet deadlines.
• Ability to keep sensitive and confidential material private.
• Ability to thrive in an ever-changing team environment.
• Strong attention to detail and ability to perform with high degree of accuracy.
• Self-starter and is able to work with minimal supervision.
• Ability to understand multiple lines of business.
• Ability to learn quickly with or without benefit of written procedures.
• Ability to read and understand insurance contracts.
• Ability to analyze data and make recommendation changes in the workflow.
• Ability to review and derive answers from company historical records that can be incomplete.
• Has excellent written and oral communication skills used to negotiate solutions with customers of varying temperaments; and, to interact effectively and develop relationships with all levels of employees.

Responsibilities

• Process complex transactions; helps resolve complaints; uses insurance and acquired companies knowledge and several administration systems to accomplish these tasks. Approves teammates work, within the approval guidelines; contributes to drafting or updating departmental procedures. Reports any escalated issues to team TSS and Manager.
• Answering telephone inquiries. Potential backup on ACD line concerning claim status, claim filing, report of death, as well as communicating internally with other departments. Handling of customer complaints from ACD line and document the information received and the telephone conversation into the claim file. Responsible for incoming and outgoing calls to claimants, Powers of Attorney, facilities and other person’s or entities involved in the payment of a claim.
• Correspondence – Respond in writing to customer inquiries in accordance with regulations. Review demand letters and responds within individual parameters and escalates as appropriate. Communicates, in writing and on the phone, with Agents, Beneficiaries, Funeral Homes, Attorneys, government agencies including Department of Insurance, and other acquired companies.
• Research – Verifies contract holder information, contract effective dates, premium status and verification of claim eligibility. Identifies the need for additional information. Contacts appropriate source to obtain needed information. Verifies beneficiary information and payment amount.
• Approve – Approve claims according to the designated approval authority guidelines
• Assist with Unclaimed Property process.
• Review and analyze IRS Form W9 and Form W8.
• Maintain claim file with proper level of documentation.
• Maintain claim inventories within departmental, contractual and regulatory guidelines. Meet expected processing levels.
• Has knowledge of all computerized administrative systems, claims systems, and communication systems used by the Department.
• Investigates moderately complex claims to resolution, or if appropriate, advises claimant of status and assists in resolution of claim.
• Able to process a heavy workload under pressure with minimal documentation and often within narrow timeframes.

Preferred Qualifications

• High School Diploma
• Strong background in customer service and production processing of Annuity Claims or equivalent experience.
• Strong background in the insurance industry with a primary focus on Annuities. ACS Designation or equivalent experience in LOMA courses is helpful.