Job Information
Travelers Insurance Company Receivable Account Analyst - Loss Sensitive Billing in Hartford, Connecticut
Who Are We?
Taking care of our customers, our communities and each other. That’s 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.
Job Category
Operations
Compensation Overview
The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.
Salary Range
$49,200.00 - $81,200.00
Target Openings
7
What Is the Opportunity?
Under direct supervision, incumbents are responsible for managing routine accounts to include those with automated billing exhibits and invoicing, some manual invoicing and manual system charges, per claim charges and cash collateral. The assigned accounts are handled from the time the deal is sold and documented through the entire cash flow process. Resolves issues/disputes or escalates to the proper level. Responsible for the setup and preparation of billing packets, maintenance of assigned accounts, and proactively developing a strategy for servicing accounts and the collection of receivables. Provides quality customer service on all assigned accounts. Reconciles accounts to maintain financial integrity.
What Will You Do?
In this job, the incumbent is being trained and developing experience in:
Review and interpretation of Loss Sensitive and Guaranteed Cost insurance legal agreements.
Account setup in billing systems including all account information, formulas, calculations and bill presentation for all Guaranteed Cost, Retrospective, Deductible and Self-insured plan types.
Achieve and consistently maintain established productivity and quality standards.
The incumbent is being trained and developed in how to:
Produce installment, paid loss, valuation and guaranteed cost audit billings within appropriate billing schedules to meet company and client needs.
Produce claim data out of loss systems for all billings which support the billing exhibits produced.
Reconcile and balance accounts assigned to the agreements made and the payments received from customers.
Apply all payments received. Research discrepancies and process return and commission checks. Complete payment reconciliations.
Collect amounts billed on assigned accounts. Analyze and assess disputes and issues related to accounts which are not paid in a timely fashion. Escalate account issues to Consultant in accordance with escalation guidelines.
Document all collection problem issues and phone calls.
Prepare clear and concise written correspondence on all disputed cases for potential use by attorney in future litigation.
Develop strategy for collection of accounts. Discuss issues with Manager/Consultant as appropriate. Identify problematic accounts and develop a strategy to address the timeliness of incoming receivables.
Ensure escrow amounts have been properly billed and collected.
Manage the waiver process on assigned accounts. Analyze and provide recommendations for the waiver/deferral process.
Work to resolve disputes with business partners to settle disagreements or answer questions related to claim, audit, RMIS and/or marketing issues. Coordinate efforts to improve the cash flow process for assigned accounts by working closely with business partners.
Other duties as assigned.
Perform other duties as assigned.
What Will Our Ideal Candidate Have?
College degree or equivalent work experience.
Some banking, finance, accounting, billing experience.
Exceptional communication and negotiation skills.
Understanding of automated systems.
Strong computer skills such as Excel, Word, databases, reporting.
Strong customer service orientation.
Demonstrated ability to work independently and in a team environment.
Ability to balance timeliness and accuracy.
Good organizational skills.
Basic proficiency in:
Delivering clear and concise verbal and written communication to all levels of the organization.
Sharing information and maintaining the confidentiality of our customers.
Listening and comprehending the needs of the business partners.
Strong ability to multitask.
Maintains a professional image.
Basic knowledge of billing and loss reporting systems.
What is a Must Have?
- High School Diploma or GED required.
What Is in It for You?
Health Insurance : Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.
Employment Practices
Travelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.
In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email (4-ESU@travelers.com) 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.
To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/ .