Complex Claims Specialist – Life Insurance Agent / Broker Dealer

Overview

The whole job description

You have a clear idea of where you want your job to go. The people in charge can help you get there. CNA wants to make sure that all of its workers are able to use all of their skills to the best by creating a culture where everyone feels like they belong and are part of something important.
One of the best places to get professional liability insurance is from CNA. We are looking for a claim worker to work with our Financial Lines claim group on professional liability cases. This person will be in charge of both main and extra E&O claims in our Financial Lines group. These claims will come up because of policies we gave to life agents, broker-dealers, investment advisors, banks, and insurance companies. It’s possible for these cases to be very complicated and worth a lot of money. It is best to have knowledge with insurance lawsuits and/or policy research. To be considered, the person must be able to produce high-quality writing work and work effectively with our business partners to answer questions about claims and policy wording. The person in this job will be able to discuss and settle claims and go to mediations, but only within certain limits of their power. To do well in this job, you need to be very organized, able to work on your own, and able to respond and communicate.

This is an individual contributor job where the person works with moderate direction and clear power boundaries to handle Financial Lines claims that are moderate to highly complicated and expose a specialized line of business. As part of their job, they have to look into cases and settle them according to company rules for quality and customer service. This job involves regular contact with clients and insurance companies, and the person may be assigned to a specific account(s).

Place: Applicants from Chicago, IL or New York City, NY will be given preference, but those living nearby will also be considered.

WHAT THE JOB IS:

Important duties and responsibilities:
Carries out a variety of tasks in line with staff rules:

• Manages a list of moderate to high-exposure and complexity claims by following company procedures to make sure policies cover everything, investigate, come up with and use settlement strategies, and give permission for payments within their authority.
• Offers excellent customer service by dealing with insureds, claims, and business partners in a professional and helpful way, meeting quality and cycle time standards, giving regular, on-time updates, and answering quickly to questions and requests for information.
• Checks for coverage and sets up fast and sufficient reserves by reading and figuring out policy wording, working with coverage counsel on more complicated issues, guessing how much a claim might be worth, and following the company’s rules for handling claims.
• Gathers relevant information, like contracts or other papers, and works with experts or other parties as needed to confirm the facts of the claim. This is done as part of a focused study to find out who is responsible, how much they should be paid, and what losses are covered.
• Builds and keeps working partnerships with the right internal and external providers, experts, and work partners by finding the resources that are needed to settle cases effectively and working with them.
• Authorizes and makes sure that claim payments stay within their power by figuring out who is responsible for the claim and how much they can be paid, making agreements, and, if necessary, taking the matter to the manager.
• Helps with managing costs by processing cases quickly and correctly, choosing and keeping an eye on the right resources, and providing excellent service.
• Finds and takes care of subrogation/salvage opportunities or possible scams by looking at the claim’s facts and sending it to the right Recovery or SIU resources for further investigation.
• Meets quality standards on every file by following all company rules, meeting quality and cycle time goals, making sure proper paperwork is done, and sending out the right claim payments.
• Follows company rules and stays up to date on commercial insurance laws, rules, or trends that affect the line of work to make sure they are in line with state and local regulations.

May do other tasks as they are given.

Relationship for Reporting
In general Manager or higher

Knowledge, skills, and abilities

• Strong understanding of the insurance business, its goods, policy wording, benefits, and how claims are handled.
• Strong written and spoken communication skills, as well as the ability to build good working relationships and organize and show information to customers, claims, and top management as required.
• Clearly shown the ability to build working partnerships with people inside and outside the company.
• Being able to use your own judgment to solve fairly difficult problems and make smart business choices.
• Shown they can do investigations with a logical mind and good critical thinking skills.
• Strong work attitude and a track record of being able to organize and handle time well.
• Proven ability to handle many tasks at once in a busy, team-based setting while still being very productive.
• Improving the ability to reach deals that aren’t too hard or too easy.
• able to adjust to new conditions.
• Being able to learn business tools and having knowledge of Microsoft Office Suite
  shown the ability to value different ideas and opinions

Education and Experience:

• Bachelor’s degree or experience that is comparable. A Juris Doctorate is highly recommended.
• Usually, they need to have handled claims for at least four years or worked as a lawyer for at least two years, where they dealt with professional liability cases involving banks, insurance companies, and/or asset managers.
• After two years of handling claims, candidates who have finished the CNA Claim Training Program may be considered.
• If needed, they must have an insurance adjuster license or be able to get one and keep it up to date within 90 days of being hired.

A professional title, such as CPCU, is a plus. #LI-Hybrid #LI-CP1
In some places, CNA is forced by law to include a fairly accurate estimate of how much this job pays. Base pay for this job level is between $49,000 and $98,000 a year in the District of Columbia, California, Colorado, Connecticut, Maryland, New York, and Washington. When figuring out pay, many things are taken into account, such as appropriate work experience, skills, qualifications, and area. CNA helps its workers and their families reach their goals for physical, financial, mental, and social well-being by providing a full and competitive benefits plan. Please go to cnabenefits.com for a full list of CNA’s benefits.
CNA promises to make fair arrangements during the hiring process for suitable people with disabilities. Please email leaveadministration@cna.com to ask for a lodging.