Position Summary:
The Subrogation Recovery Specialist is responsible for evaluating collection and subrogation opportunities. The role will identify legal liability and aggressively pursues, negotiates, and settles subrogation recovery claims. The Subrogation Recovery Specialist researches, coordinates, and negotiates with other departments, insurance adjustors, household and commercial customers, collection companies, witnesses, attorneys and more to obtain the necessary evidence and documentation to determine the appropriate path for each recovery opportunity. They are skilled in analyzing and investigating data and making prompt and sound business decisions. The position requires strong negotiation skills to obtain the highest settlement possible while adhering to company policies and procedures.
Major Responsibilities:
- Investigate, analyze, and determine party responsible for accident or damage. This could be an outside third party or our customer. Careful analysis of and interpretation of the facts as well as our contracts is necessary.
- Research and obtain supporting documentation for all expenses associated to the claim including estimates, photographs, accident/incident billing expenses. This includes navigating Penske’s internal systems and applications.
- Prepare demands and negotiate settlements based on evaluation of opposing arguments from at fault party and prepare rebuttal to optimize results.
- Utilization of best practices to determine if outside vendor intervention is needed.
- Receipt and application of funds to ensure appropriate financial processing by accounts receivable.
- Communication with stakeholders on recover status, resolution, and closure of file.
- Identification of process improvements.
- Other tasks and assignments as assigned by Manager.
QualificationsQualifications:
-High School degree required, degree preferred.
-2+ years of experience in subrogation recovery claims handling is preferred.
- 1+ years of experience in adjusting claims is preferred.
- Excellent negotiation skills and the ability to make fact-based decisions in a timely manner.
- Independent thinker, self-starter, ability to work and make decisions on your own.
- Excellent written and verbal communication skills.
- Computer skills in Access, Excel, Word, AS400, Outlook, and Internet research.
- Ability to multitask is necessary.
- Good presentation skills.
Skills Required
- High school degree
- Degree
- 2+ years of experience in subrogation recovery claims handling
- 1+ year of experience in claims adjusting
- Excellent negotiation skills
- Ability to make fact-based decisions in a timely manner
- Independent thinker and self-starter able to work and make decisions independently
- Excellent written and verbal communication skills
- Computer skills in Access, Excel, Word, AS400, Outlook, and Internet research
- Ability to multitask
- Good presentation skills
What We Do
Penske Truck Leasing is a leading global transportation services provider, offering truck leasing, rental, and logistics solutions with a fleet of over 400,000 vehicles. The company provides full-service truck leasing, contract maintenance, and comprehensive logistics solutions through its subsidiary, Penske Logistics. It is also shaping the future of mobility by investing in electric vehicles and advanced fleet safety systems.
