Annuity Claims Specialist

4 days ago

Ottawa, Ontario, Canada SILAC Insurance Company Full time
About SILAC

SILAC Insurance Company is one of the fastest-growing insurance companies in the nation and continues to be a top contender in the industry. SILAC offers industry-leading annuity products that help individuals prepare for retirement. Teams can align around a shared vision of providing clean, simple & competitive products for clients, delivering best-in-class service to agents & business partners, and propelling the success of our employees.

With a fast-growing team of more than 300 employees, we are committed to remaining adaptable, innovative, and trustworthy for our clients, agents, and employees.

We hold true to our core values:

- Adaptability & Continuous Improvement
- Transparency & Trust, Honesty & Integrity
- Teamwork & Collaboration
- Gratitude & Compassion

At SILAC Insurance Company, we welcome and encourage diversity and are dedicated to creating an environment and culture that is respectful and inclusive for everyone.

Annuity Claims Specialist

Department Overview: Provide personalized service and product knowledge through inbound and outbound phone calls to and from Annuity customers, sales agents, and business partners. Provide written and verbal responses to customer inquiries and policyowner administration requests originating from multiple channels such as telephone calls, correspondence, e-mail, and instant messaging (IM) sessions. Promotes the value of Annuity products, Annuity services, and represents the company's mission and values. Deliver customer assistance in a friendly, personalized way that builds trustworthy, long lasting customer relationships.

Job Overview: The Annuity Claims Specialist is responsible for handling annuity-specific death and health rider claims, ensuring accurate and timely processing while maintaining a high level of customer service. This role involves making outgoing calls to beneficiaries and claimants regarding claims-related matters and supporting the team by taking incoming calls that involve complex claim inquiries. Over time, the specialist will also be trained to process health rider requests in addition to annuity death claims. This position focuses exclusively on annuity claims and does not involve other lines of business such as Medicare supplements, life insurance, or long-term care policies.

Job Details

Starting Pay Rate: $21.75
Full Time or Part Time: Full Time
Standard Hours Per Week: Monday - Friday, 40 hours/week
Work Schedule: Shift starts between 6:30 AM and 8:30 AM MT
Schedule Type: In-Office

What you'll do:

Claims Review & Processing

- Evaluate and process death benefit claims for annuity policies, ensuring accuracy and compliance with contract terms.
- Validate required documentation and process claims in accordance with company policies and industry regulations.
- Learn and eventually handle health rider claims in conjunction with death benefit claims.

Inbound and Outbound Calls

- Conduct outgoing calls to beneficiaries and claimants to provide updates, request missing documentation, or clarify claim details.
- Respond to complex incoming inquiries from internal team members regarding claims processes, policy provisions, and contract-specific claim requirements.
- Effectively communicate claim determinations and policy guidelines in a professional and empathetic manner.

Regulatory Compliance & Product Knowledge

- Ensure all claims processing activities comply with state and federal insurance regulations and SILAC's internal policies.
- Stay up to date on annuity contract provisions, claims procedures, and health rider.
- Follow standard operating procedures for claim assessments, calculations, documentation retention, and system entries.

Fraud Prevention & Risk Management

- Identify potential fraudulent claims by reviewing documentation for inconsistencies, irregularities, or red flags.
- Escalate suspicious claims for further review and investigation as needed.

Job Requirements

Who you are:

Required

- Strong analytical and research skills to assess claim validity and resolve discrepancies.
- Ability to clearly communicate complex claim information in both verbal and written formats.
- Experience with mainframe computer systems or proficiency in PC applications such as MS Word, Outlook, and other business software.
- High attention to detail with strong organizational skills and accuracy in documentation review.
- Ability to manage multiple priorities and work efficiently in a fast-paced environment.
- High school diploma, GED, or equivalent experience demonstrating the ability to perform the role effectively.

Desired

- Previous experience processing annuity death claims or other insurance claims.
- Familiarity with health rider claims processing and related annuity policy provisions.
- Basic understanding of legal statutes and regulations governing annuity claims.

BENEFITS:

- Medical Plans, including FSA and HSA
- Dental and Vision
- 401(k) (Roth and Traditional)
- Pet Insurance
- Parental Leave
- Paid Time and Sick Time off
- 10 Paid Holidays and 1 Birthday Pay
- Paid Volunteer Time
- College Tuition Reimbursement

Communication during the recruitment process regarding interview requests or job offers will come directly from a recruiting team member with a silacins.com email address.

At SILAC, we celebrate a diverse and inclusive work environment, where we honor and support varying backgrounds, beliefs, and perspectives for the benefit of our business, including our employees and products. We are proud to be an equal-opportunity workplace and strive to be a place where every employee feels they belong. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status. If you have a disability or a special need that requires accommodation, please let us know.

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