Claim Support Specialist, Loss Services

2 weeks ago

Toronto, Canada Combined Insurance Full time

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

KEY OBJECTIVE:
The Claim Support Specialist will provide financial administrative assistance and support to the Claims Department. The Claim Support Specialist will be responsible for claims financial reconciliation, reporting, incoming and outgoing payment management, as well as any other financial Claims’ support functionality as required. Significant interaction and collaboration with internal and external stakeholders, including but not limited to, Finance, Claim Adjusters & Management, Vendors, and TPA-partners.

MAJOR RESPONSIBILITIES:

- Processing and issuing payment requests for all Lines of Businesses and all insuring entities within multiple Claim and Finance systems.
- Process all incoming Claims’ receivables across multiple systems for all Lines of Businesses and insuring entities.
- Resolving and interacting with the Finance department regarding reserve, payment, and other monthly reconciliations.
- Providing audit information to Internal and External Auditors.
- Working with law firms and other vendors on outstanding receivables, issuing manual payments where necessary.
- Replenishing Third Party Claim Administrators (TPA) Paid Loss Deposit Funds as requested and ensuring offset entry is completed in applicable claim source system.
- Completing reinsurance reconciliation on a monthly basis.
- Reviewing and resolving any IBC/GAA claim coding errors on a monthly basis. Correcting registration and/or coverage coding errors on applicable claim source system.
- Adhering to Chubb Claim Operations Best Practices.

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