Subrogation /Recoveries Specialist

Summary of PositionThe Recoveries Specialist is a mid-level position that dynamically enhances the company’s success by applying the principles of subrogation to settled claims in order to recoup funds from liable parties whereby reducing overall loss ratios. The candidate should have experience working in an insurance claims, recoveries or legal setting and will be responsible for initializing, negotiating, and settling all assigned recovery claims.
Position Functions
The Recoveries Specialist is responsible for providing world class customer service and support to key stakeholders in all aspects of recovery/subrogation handling. The candidate will:

1. Review claim files to identify, analyze and interpret subrogation potential.
2. Prepare recovery demands and commence action by sending complete, accurate and detailed supports that identify and assert the liability of third parties across multiple lines of business utilizing in house proprietary systems.
3. Utilize internal diary system to maintain regular ongoing communication with liable parties and prevent files from going stale.
4. Directly consult with and assist in-house legal team on complex recovery claims.
5. Refer applicable files to outside subrogation counsel if warranted.
6. Maintain organized and detailed recovery claim files within internal database.
7. Record and processes all recovery payments, issue payments for subrogation expenses and ensure policyholders are reimbursed proportionately.
8. Maintain accurate and complete subrogation reports as directed and provides management with regular updates and status reports on subrogation files.

Knowledge, Skills, & AbilitiesThe candidate should be customer service orientated, demonstrate a positive attitude and the ability to share knowledge and work effectively in a team environment with all levels of company staff. Additional skills include strong professional verbal and written communication, mathematics and analytics, time management and highly organized with the ability to manage and prioritize multiple projects independently in a fast-paced office environment.Other RequirementsA working knowledge of all Microsoft Office products, Adobe, spreadsheet software, and general computer skills.
A willingness to complete continuing education in the insurance field and participate regularly in professional development opportunities. Physical RequirementsMust be able to sit and operate a computer; answer and communicate effectively on a telephone; operate fax and copy machine.
Supervisory Responsibilities
None
Equipment Used
Computer, telephone, fax machine, copy machine, postage meter, scanner.
Hours of Operation and Working Conditions
This position’s work hours are Monday through Friday 9am to 5pm, in a business-casual office environment. We currently operate in a hybrid capacity with 3 days in the office, Wednesday and Thursday are required and 2 days at home. This position requires occasional flexibility for working additional hours to accomplish project objectives. Occasional business travel may be required.