Workers' Compensation Specialist
IMT Insurance
full-time
Posted on:
Location Type: Hybrid
Location: West Des Moines • Iowa • 🇺🇸 United States
Visit company websiteSalary
💰 $63,000 - $96,000 per year
Job Level
Mid-LevelSenior
About the role
- Workers Compensation Specialist IMT Insurance is seeking an individual to fill the position of Workers Compensation Specialist. In this position, you will be responsible for managing and overseeing a significant portfolio of claims, requiring advanced knowledge and decision-making skills. Other duties will include high-value or high-complexity claims, where deeper investigative work, negotiation, and coordination with external parties (i.e., legal counsel, medical providers, third-party administrators) are required. You will also play a leadership role, providing guidance and mentorship to junior staff while managing cases independently or with minimal supervision. If you are a detail-oriented, self-starter and interested in growing your knowledge within the Insurance industry, this is the perfect opportunity for you. Apply online today! A DAY IN THE LIFE Complex Claims Management: Independently manage a high-volume and high-complexity caseload, including severe injury claims, occupational disease claims, litigated claims, and claims involving multiple stakeholders (e.g., insurance carriers, legal teams, medical providers, and third-party administrators). Advanced Case Reserve Management: Set and adjust substantial monetary reserves for large claims, factoring in medical costs, lost wages, future treatment, and potential legal settlements. Provide recommendations on reserve adjustments based on in-depth analysis of claims data. Strategic Claims Oversight: Develop and implement strategies to efficiently manage complex claims, reduce claim costs, and expedite resolution. Work closely with legal counsel, medical experts, and external vendors to manage high-exposure claims. Litigation & Settlement Negotiation: Act as the primary point of contact for complex claims litigation, providing guidance to legal teams, negotiating settlements, and ensuring that claims are resolved in the best interest of the organization while adhering to regulatory guidelines. Leadership & Mentorship: Lead and mentor junior team members, including Work Comp Specialists IIII. Provide training on advanced claims management, legal and medical considerations, and effective negotiation strategies. Support team development and foster a collaborative work environment. Program Development & Process Improvement: Contribute to the continuous improvement of the workers' compensation program by identifying areas for process enhancement, implementing best practices, and optimizing claims handling procedures. Cross-Departmental Collaboration: Work with internal stakeholders to ensure a comprehensive approach to workers compensation claims. Participate in safety initiatives and return-to-work programs to reduce claim frequency and severity. Reporting & Strategy: Prepare detailed reports and presentations for management on the performance of the workers' compensation program. Provide strategic recommendations for cost containment, claims management improvements, and risk mitigation. Regulatory Compliance & Industry Leadership: Stay updated on changes to workers' compensation laws, regulations, and industry best practices. Ensure compliance with state and federal workers' compensation regulations, and serve as a subject matter expert on regulatory matters. External Relationships: Manage relationships with external vendors, including third-party administrators (TPAs), medical providers, legal professionals, and insurers. Negotiate contracts and service level agreements (SLAs) to optimize service delivery and cost control.
Requirements
- 5-8 years of experience in Workers Compensation Claims Management, including handling complex or high-risk claims. At least 2-3 years of experience handling more complex or high-stake claims. Relevant certifications, such as Certified Workers Compensation Professional (CWCP) or Associate in Risk Management (ARM), are preferred. A high school diploma or equivalent is needed to perform normal functions. A Bachelors degree in business, insurance, risk management, or related field is preferred. Advanced expertise in workers' compensation laws, claims management strategies, and litigation processes. Strong leadership abilities with experience in mentoring, training, and developing staff. Excellent negotiation skills and the ability to manage difficult claims and stakeholders effectively. Exceptional communication skills, with the ability to present complex claims information to executive leadership and external partners. Strong financial acumen for managing large claim reserves, budgeting, and cost-control initiatives. Ability to analyze complex claims data and recommend actionable insights to improve claims handling processes. High proficiency in claims management software, Microsoft Office Suite, and other industry-specific tools.
Benefits
- IMT Insurance is committed to our employees and their families. When you work for IMT, you earn far more than just a paycheck. The IMT office was new in 2018 and offers a fitness room, game room and a variety of collaboration areas. This position includes hybrid work arrangements, learning and development opportunities and more! Below is a list of what IMT offers our employees: Medical, dental, and vision insurance, Life & A D & D insurance, 401K retirement savings accounts, spending accounts, long and short-term disability, profit share, paid vacation & sick time, employee assistant program and additional voluntary benefits. The salary range for this position is $63,000.00 - $96,000.00 Starting salary and level of position will depend on level of experience. This position is not eligible for tips or commission but may be eligible for additional bonuses Fully remote work involves important payroll and legal considerations for the company. IMT has identified eligible states of residence for continued employment with IMT. Eligible states include: Arizona, Colorado, Florida, Iowa, Illinois, Minnesota, Missouri, Nebraska, North Carolina, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, and Wisconsin.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
Workers Compensation Claims ManagementComplex Claims ManagementCase Reserve ManagementLitigation ProcessesClaims Data AnalysisNegotiation StrategiesCost Control InitiativesClaims Handling ProceduresRegulatory ComplianceRisk Mitigation
Soft skills
LeadershipMentoringTrainingCommunicationCollaborationProblem SolvingDetail-orientedSelf-starterStrategic ThinkingInterpersonal Skills
Certifications
Certified Workers Compensation Professional (CWCP)Associate in Risk Management (ARM)