Bond Claims Agent

About the role

This position is directly responsible for the support of the Bond and Property & Casualty product lines for claims. This encompasses working with underwriters, financial institutions and risk management on claims, tracking loss trends, and escalations. 24/7 on call response leader.

Responsibilities

• Create best practices for completing and handing off claims to the carrier.
• Manage discussions bi-monthly with carrier partners on claim file downloads.
• Afford annual loss ratio goals and track progress against these goals.
• Manage escalated complaints and claims and provide recommendations to the Claims Director for remediation.
• Manage training for account managers and administrative assistants on claims inbox.
• May entail availability on weekends to manage clientele as needed.
• Manage loss scenarios with financial institutions and Risk Management Dept.
• Review and verify policies are in force.
• Direct policyholders what policy and insuring agreement may be triggered, the policy reporting requirements, policy conditions and exclusions and deductibles.
• Manage the Bond Claims inbox, triage, and prioritize incoming emails.
• Manage new claims in TAM by creating items in TAM that the team will work on.
• Maintain communication between the financial institution leader and the adjuster as needed, additional follow up as needed.
• Coordinate claims decision calls for financial institution partners & carrier’s legal department for high level litigation documents.
• Advocate for the credit union to get the most favorable outcome.
• Review policy insuring agreements, based on the loss, in order to speak on behalf of the financial institution to the insurance carrier to ensure the claims are filed correctly.
• Work with insurance carrier to determine covered loss or declinations.
• When litigation, ensure insurance carrier has hired legal representation.
• When no legal representation, advise to attain outside council.
• Manage financial institutions partners on claims issues with carriers.
• (Denial disputes, coverage issues, lack of contact, follow up on individual claims to ensure the carrier is handling in a timely manner when requested.)
• Review carrier coverage positions/claim denials.
• Manage the insurance carriers claims that have been registered and be the liaison between both parties.
• Maintain the insurance carriers claims that have been registered and be the liaison between both parties.
• Monitor the discussion with Account Executives and Producers in claims when necessary and provide coverage or denial letters.
• Document (attach in TAM) claim acknowledgements, denials, closings, (all documentation) received from carriers.
• Document (attach in TAM) all claim submissions to carriers. Including all Plastic card, and P&C insurance claim submissions.
• Subject matter expert, liaison, and project manager in CenterPoint for Bond Claims in conjunction with Allied Solutions development team and insurance carrier partners.
• Manage escalated claim issues and work with point of contact at the insurance carrier.
• Maintain claims with each carrier to ensure adjusters request close-out documentation promptly and settle in a timely manner.
• Support various functions within the Bond division by partnering with internal teams to enhance workflow efficiency, address operational needs, and assist with key departmental initiatives.
• On call support for clients and financial institutions to answer questions for CenterPoint.
• Onboard new clients into CenterPoint to set them up in CenterPoint.
• Facilitate Plastic Card automation enrollment.
• Participate in regional and business unit claims meetings.

Qualifications

• High School Diploma or GED Required, Bachelor’s Degree preferred.
• Property and Casualty license is preferred.
• Adjusters license is preferred.
• 3 – 4 years of relevant work experience required.