Senior DRC Claims Examiner

Job not on LinkedIn

🔥 19 hours ago

🌽 Illinois, New Jersey, +1 more states – Remote

🌽 Illinois – Remote 🏖️ New Jersey – Remote 🗽 New York – Remote

💵 $90k - $107k / year

⏰ Full Time

🟠 Senior

📋 Claims Specialist

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Arch Capital Group Ltd.

WebsiteLinkedInAll Job Openings

5001 - 10000 employees

Founded 2001

💸 Finance

🏢 Enterprise

Insurance • Finance • Enterprise

Arch Capital Group Ltd. is a global leader in providing specialty insurance, reinsurance, and mortgage insurance solutions. Arch offers risk management and risk financing services across a range of industries and operates through distinct businesses in North America, Europe, and Australia. The company is known for its innovative approach to risk, utilizing cutting-edge analysis to target and price risks effectively. Arch Capital Group's portfolio and operations reflect their commitment to sustainability and governance while continually seeking new market opportunities. Additionally, Arch Capital is recognized for its financial strength and increasing shareholder value through strategic growth and investments.

📋 Description

• Provide and maintain exceptional customer service and ongoing communication to the appropriate stakeholders through the life of the claim including prompt contact and follow up to complete timely and accurate investigation, damage evaluation and claim resolution in accordance with regulatory, company standards, and authority level • Conduct thorough investigation of coverage, liability and damages; must document facts and maintain evidence to support claim resolution • Review and analyze supporting damage documentation • Comply and stay abreast of all statutory and regulatory requirements in all applicable jurisdictions • Establish appropriate loss and expense reserves with documented rationale • Demonstrate technical efficiency through timely and consistent execution of best claim handling practices and guidelines • Communicate effectively and timely with internal (such as underwriting) and external customers on claims and account issues • Maintain and manage diary system to efficiently manage and resolve assigned pending • Identify and communicate trends with senior claims and underwriting management • Effectively draft written communications to Insureds and Claimants regarding status of claim i.e. request for information, confirmation of investigatory details and/or coverage position letters • Mitigate claim expenses as economically as possible • Summarize claims in excess of authority and submit rationale to manager for approval • Negotiate settlements within approved authority level, issue settlement payments and document all activities • Identify potential subrogation and fraud opportunities and make appropriate referrals • Support claims workflow efficiency by accurately documenting claim progress, referring high risk exposures outside authority levels and seeking opportunities that enhance operational knowledge • Use multiple systems to gather, enter and analyze claim metric data to ensure targets are achieved.

🎯 Requirements

• Bachelor’s degree required • 5-7 years of experience handling commercial insurance claims, including Employment Practices Liability. • Adjuster licensing in applicable states preferred; ability to obtain required licenses post-hire. • Exceptional communication, negotiation, and interpersonal skills. • Strong analytical, organizational, and time management abilities. • Proficiency in Microsoft Office (Excel, PowerPoint, Word); familiarity with claims systems (e.g., ImageRight) preferred. • Ability to work independently and collaboratively in a team environment.

🏖️ 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 • Tuition Reimbursement • Backup Child and Elder Care • and more.