Claims Recovery Associate
To coordinate, investigate, and recover claims by pursuing the responsible third party and assist in providing service to policyholders/customers through subrogation efforts. Our goal is to identify and employ confident, self-starting, highly motivated individuals who display high-energy and intelligence to achieving our departmental financial objectives. As member of Claims Department, you will put your investigative and analytic skills to work; communicating with policyholders, medical professionals, hospitals and others to gather the critical information necessary for the prompt, fair and equitable resolution of different types of claims recovery. The Job
- Demonstrate technical proficiency in resolving recovery of claims
- Investigates and identifies 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.