Claims Representative III
Claims Representative III
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Salary Not Disclosed
1 Vacancy
Job Description
Company Details
With over 35 years of proven expertise in the workers compensation industry Key Risk delivers innovative and responsive solutions that provide our clients the freedom to do what they do best. Offering guaranteed cost options to employers nationwide Key Risk focuses on delivering products and services within specialized verticals to reduce workers compensation exposures and deliver industryleading results.
All products and services are distributed through appointed insurance agents and brokers. Key Risk is a member company of W. R. Berkley Corporation whose insurance company subsidiaries are rated A (Superior) Financial Size Category XV by A.M. Best Company and A (Strong) by S&P.
For further information about Key Risk please visit
The Company is an equal employment opportunity employer.
Responsibilities
TheWorkers Compensation Claims Representative IIIis responsible for the analysis and management of complex workers compensation claims. This position will review investigate and make decisions regarding coverage compensability and appropriateness of claims. The position will process and document claims to ensure compliance with company standards industry best practices and legislative provisions. Acts in a fiduciary role on behalf of policyholders and negotiates claim settlements. Claims Representative III conducts the handling of claims in the utmost of good faith in compliance with the rules regulations and state statutes. The Claims Representative III is expected to function with a high degree of competency. The use of sound judgment coupled with technical claim handling skills and consistent results are expected.
Key Functions will include but not be limited to:
- Analyzes and processes workers compensation claims by investigating and gathering information to determine the exposure on the claim.
- Negotiate settlement of claims up to designated authority level and makes claims payments.
- Calculates and assigns timely an appropriate reserves to claims and continues to manage reserve adequacy throughout the life of the claim.
- Calculates and pays benefits due; approves all claim payments; and settles claims within designated authority level.
- Develops and manages claims though welldeveloped action plans; continues to work the action plan to bring the claim to an appropriate and timely resolution.
- Prepares necessary state filings within statutory limits.
- Actively manages the litigation process; ensures timely and costeffective claims resolution.
- Coordinates vendor referrals for additional investigation and/or litigation management.
- Uses appropriate cost containment techniques including strategic vendor partnerships to reduce overall cost of claims.
- Frequently communicates with all appropriate parties involved with the claim.
- Maintains professional client relationships.
- Actively executes appropriate claims activities to ensure consistent delivery of quality claims services.
Qualifications
- Must reside in MD
- 3 years of MD and DC workers compensation claims handling experience preferred
- In depth knowledge of appropriate insurance principles and laws of workers compensation preferably jurisdiction specific.
- May be required to obtain Adjuster license for other jurisdictions
- Strong written and verbal communication skills.
- Strong interpersonal time management and organizational skills.
- Strong negotiation skills.
- Proven critical thinking skills that demonstrates analysis/judgment and sound decision making with focus on attention to detail.
- Ability to perform with a sense of urgency.
- Ability to work both independently and within a team environment.
- Ability to travel for business purposes approximately less than 10.
Additional Company Details
The company offers a competitive compensation plan and robust benefits package for full time regular employees
The actual salary for this position will be determined by a number of factors including the scope complexity and location of the role; the skills education training credentials and experience of the candidate; and other conditions of employment.
Sponsorship Details
Required Experience:
Unclear Seniority
Employment Type
Unclear
