Claims Account Manager – Alternative Markets
Arch Capital Group Ltd.
full-time
Posted on:
Location Type: Hybrid
Location: Morristown • New Jersey • New York • United States
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Salary
💰 $111,000 - $150,000 per year
About the role
- Manage third party administrators (TPA) ensuring compliance with Arch's Best Practices
- Claim Account Managers will conduct reserve adequacy audits of each program’s Third Party Administrators
- Monitor the third party administrator's compliance with state specific insurance department regulations and unfair claim practices
- Conduct ongoing training to assigned TPA adjusters
- Evaluate the TPA's service standards ensuring that they are providing our insureds with quality and timely service in accordance with Arch's established guidelines; ability to escalate issues when found
- Ensure that the TPAs are in full compliance with Arch's Reserving Philosophy
- Monitor, manage and provide direction to the third party administrator on all open claims within each assigned captive along with those losses that meet the Arch reporting criteria
- Maintain active monitoring file and diary ensuring files are managed effectively
- Review and evaluate quarterly program scorecards to identify trends and provide input and commentary to the underwriting department and the captive board
- Provide timely notices to Arch's reinsurance department and assist with any audits by the reinsurance companies who participate in the Arch program business
- Manage and direct any suits wherein Arch is named directly arising out of the assigned program
- Actively participate in the management and direction of high exposure claims directing counsel and attending mediations on an as needed basis
- Monitor and report CAT losses and any potentially large claim increases to Underwriting and Senior Claim management on an as needed basis.
Requirements
- College Degree preferred
- Minimum of 10 years working experience with claims handling
- Ability to handle high severity claims
- Experience managing casualty, trucking, and construction claims
- Strong understanding of contract law including risk transfer and insurance procurement requirements
- Ability to identify, evaluate and properly reserve damages including but not limited to special, general and punitive exposures
- Proper adjuster licenses in all applicable states
- Knowledge & expertise with multiple jurisdictions
- Hands-on experience and strong aptitude with Microsoft Excel, PowerPoint and Word
- Exceptional communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop productive working relationships with internal/external peers and other professionals across organizational lines
- Strong problem-solving, analytical, organizational, and time management skills
- Ability to take part in active strategic discussions
- Ability to work independently and in a team environment
- Willing and able to travel 25%.
Benefits
- multiple medical plans plus dental, vision and prescription drug coverage
- a competitive 401k with generous matching
- PTO beginning at 20 days per year
- up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Off
- basic Life and AD&D Insurance
- Short and Long-Term Disability
- Paid Parental Leave of up to 10 weeks
- Student Loan Assistance and Tuition Reimbursement
- Backup Child and Elder Care
- and more.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
claims handlingreserve adequacy auditscontract lawrisk transferinsurance procurementdamages evaluationadjuster licensesjurisdiction knowledgestrategic discussionshigh severity claims
Soft Skills
communicationinfluencingnegotiatinglisteninginterpersonal skillsproblem-solvinganalytical skillsorganizational skillstime managementteamwork
Certifications
adjuster licenses