Job Description

Company Summary

Taking care of our customers, our communities and each other. Thats the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings

1

Job Description Summary

Fulfill Bond and Specialty Insurance (Bond Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and results at the most reasonable cost. Effectively manage all assigned Bond claims, typically of lower to moderate severity or complexity. Interact and collaborate with claim and underwriting colleagues as well as with external business associates (insureds, vendors, agents.

Primary Job Duties & Responsibilities

* Within authority limit, evaluate, investigate, negotiate and resolve low to moderate severity and complexity recovery claims with moderate supervision.
* Independently make appropriate decisions within claim authority reflecting thorough analysis and creative solutions and make appropriate recommendations to Claim management, when necessary.
* Ensure that all policies, procedures, workflow and performance standards are met and comply with all regulatory and Bond and Specialty Insurance customer service standards.
* Assist/mentor less experienced colleagues in claim resolutions.
* Within authority limit, refine negotiating skills and ability to formulate strategy within a litigation and non-litigation context.
* Keep Claim Executive/Management apprised of claims being handled, seeking input and guidance, as necessary for prompt resolution.
* Prepare reports (e.g. trial, EC, Good News, class action to management to accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies, resolution strategies and projected/actual recoveries, with assistance from Claim Executive/Management (if necessary..
* Identify and develop networks to solicit information and promote Bond products and claim service.
* Consistently achieve or exceed individual goals.
* Recognize issues with broader implications to Bond and Specialty Insurance and Travelers.
* Represent Unit in claim strategic initiatives (or lead team; lead strategic initiatives.
* Share newsletters, webinar information, case analyses, results of counsels legal research and/or litigation strategies with underwriting, Claim and Claim Management.
* Responsibilities Specific to Management Liability and Surety:
* Maintain all necessary active adjusters licenses and remain current with all CE credit requirements.
* Be accountable for accurate documentation/information in claim file and Bond and Specialty Insurance Claim Management System (BCMS. Adhere to Claim.
* documentation standards (e.g., coverage analysis, reserve and settlement rationale, current diary.
* Identify all recovery opportunities and, where appropriate, coordinate recovery efforts with the Recovery Management Unit and claims management.
* Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management.
* Proactively manage litigation tendered to principals.
* Responsibilities Specific to Recovery Management:
* Identify and obtain necessary facts and information needed to support the recovery claim process and resolution of assigned claims.
* Be accountable for accurate documentation/information in claim file and Bond & Specialty Insurance Claim Management System (BCMS.
* Adhere to Claim documentation standards (e.g. responsible party identification, liability analysis, settlement rationale and current diary.
* Work closely with and manage collection vendors: collection agencies, attorneys, staff counsel.
* Make decisions reflecting thorough analysis and creative solutions.
* Balance outcome and costs.
* Efficient use of asset/credit/locate databases and other internet resources.
* Provide service to others throughout Bond Claim.

Minimum Qualifications

* High school diploma or GED required.
* General knowledge of computer technology such as Microsoft Office, e-mail, Web-enabled applications and database software required.
* 2 years of claim handling experience required.

Education, Work Experience, & Knowledge

* Bachelors degree preferred.
* Paralegal experience or education preferred.
* Preferred 5+ years of claim handling experience within the surety insurance industry.

Job Specific Technical Skills & Competencies

* Strong communication skills (written and verbal, influencing, negotiating, listening and interpersonal skills to effectively develop productive internal and eventually external relationships.
* Effectively communicates with Bond colleagues.
* Able to communicate decisions.

Teamwork:

* Works well independently as well as in a team environment.
* Effectively collaborates with Bond colleagues.
* Develops skills to work with peers to resolve issues by listening for understanding, discussing all issues related to the situation, and coming to a solution.

Technical Ability:

* Learns claim handling practices and skills.
* Develops understanding of aspects of the business and products.
* Learns litigation management and budgeting practices.
* Develops working knowledge of Bond technology tools.
* Leadership:
* Respect and trust of colleagues.
* Well organized.
* Meets deadlines.
* Consistently demonstrates integrity and initiative.
* Takes accountability for development.
* Sense of urgency.
* Takes ownership and responsibility for decisions and outcomes.
* Self-motivated.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.