Job Summary
Under broad supervision, investigates, analyzes, and processes ceded and assumed reinsurance claims. Works within specific limits of authority. Utilizing policies and guidelines, reviews treaties, determines liability and compensability, secures information, determines amount due, notifies counterparts, and pursues collections in accordance with applicable reinsurance contract terms and conditions.
In this role, the ideal candidate will exhibit a broad understanding of reinsurance principles along with strong data management, Microsoft excel, and financial reconciliation skills. This role works closely with other internal business units, including Reinsurance Accounting, Claims and Actuarial, as well as external service providers.
JOB DESCRIPTION:
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
1.Identifies claims eligible for reinsurance through analysis of direct claims activities, monitoring large loss notices, and interfacing with direct claims areas.
2. Works on ceded reinsurance claims under Treaties and/or Facultative certificates for recovery of outstanding ceded balances due the company.
3. Analyzes and processes complicated domestic and International Reinsurance assumed treaty accounts. Reviews accounts for profit commissions & retrospective premium adjustments. Calculates unearned premium and confirms that claims adhere to full treaty terms and conditions.
4. Researches, interprets and analyzes specific facts and applies insurance and reinsurance concepts to understand coverage and liability issues.
5. Pursues recovery of the balances of reinsurance claims/accounts by influencing reinsurer, explaining coverage and liabilities and gaining support for position.
6. Monitors aging of outstanding ceded balances and initiates action to ensure payment on timely basis.
7. May make recommendations on ceded reinsurance claims policy and processes.
8. May provide guidance and assistance to less experienced reinsurance claims staff and other functional areas.
Reporting Relationship
Manager or above
Skills, Knowledge and Abilities
1. Knowledge of insurance and claims principles, practices and procedures.
2. Good interpersonal and communication skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
3. Ability to work independently.
4. Strong analytical and problem solving skills.
5. Ability to exercise independent judgement and effectively resolve ceded reinsurance issues.
6. Strong knowledge of Microsoft Office Suite as well as other business-related software.
Education and Experience
1. Bachelor's degree. Some related course work towards professional designation desirable.
2. Typically a minimum one to two years claims experience.
#LI-MR1
#LI-HYBRID
I n certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia , California, Colorado, Connecticut, Illinois , Maryland , Massachusetts , New York and Washington, t he national base pay range for this job level is $47,000 to $78,000 annually.Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees - and their family members - achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA's benefits, please visit cnabenefits.com .
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact [email protected] .
Top Skills
What the Team is Saying
What We Do
CNA is one of the largest U.S. commercial property and casualty insurance companies. Backed by more than 125 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe.
As a company of allies, we understand the importance of fostering an inclusive and supportive culture for all employees. Our eight Employee Resource Groups elevate the voices of underrepresented groups and champion critical DEI initiatives in the workplace and beyond. We strive to promote an environment of inclusion and continuously work to ensure all employees feel valued and respected.
Why Work With Us
CNA knows the importance of having the tools you need to expand your expertise and develop your career. With a variety of cross-discipline and cross-functional opportunities, CNA provides you with the tools and resources needed to customize your career path and understand what is needed to be effective in your role.
Gallery
CNA Offices
Hybrid Workspace
Employees engage in a combination of remote and on-site work.
