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Risk Management and Insurance Specialist

Company: MedSpeed
Location: Elmhurst
Posted on: March 18, 2023

Job Description:

Risk Management and Insurance Specialist

About UsCome join MedSpeed to help us deliver health! MedSpeed is a healthcare logistics company that partners with healthcare organizations throughout your communities to transport a wide range of medical supplies, specimens, and materials. At MedSpeed we work as a team, keep our promises and strive to get better every day. We are looking for individuals who believe in and represent those values.Today, we have over 150 locations in 32 states but still have kept that small business, entrepreneurial feel and remain committed to the same culture established day 1!Our people are at the heart of what we do and how we support our customers.Why become a MedSpeeder? Take a look at what MedSpeed offers:

  • Medical, Dental, Vision and Flexible Spending Account - We offer plans that help you and your family take care of your whole self.
  • 401(K) with Company Match - Helping you make good financial decisions today and for the future.
  • Paid Time Off - We value well-being and encourage work-life balance.
  • Opportunities for Career Advancement - Over 50% of our market managers have been promoted into their roles.
  • Training Provided - Our Blue Shirt Certified program ensures you excel in your role.What you will be doing as a Risk Management and Insurance Specialist with MedSpeed:
    • Manage overall claim exposure and maintain accurate records of claims.
    • Identifies and recommends a course of action in support of the most cost-effective resolution of routine claims.
    • Provide advice and guidance on recommended claim settlement or litigation.
    • Conduct regular reviews of claim exposure to identify trends and areas for improvement.
    • Develop and implement risk mitigation strategies to reduce overall claim exposure.
    • Serve as the subject matter expert on claims handling and the insurance industry.
    • Work with the finance department to ensure adequate planning is in place to account for all expected claim costs.
    • Provide training and support to other departments as needed to ensure effective risk management across the organization.
    • Keep up-to-date with changes in regulations, policies, and procedures related to insurance claims management.
    • Communicate effectively with key stakeholders, including insurance adjusters, internal departments, and external partners.
    • Work effectively in a remote setting, collaborating with colleagues across different time zones and geographies.
    • Consults with other adjusters, field managers or support staff as needed, to achieve favorable claim outcomes.
    • Investigates, evaluates, and negotiates settlements by applying technical knowledge and human relation skills to effect fair and prompt claim closure and to contribute to a reduced loss ratio.
    • Redirects the claim file to the appropriate subject matter expert if the claim becomes more complex or presents increasing financial exposure.
    • Applies effective protocols for medical management, litigation, fraud/abuse and recovery.
    • Facilitates meetings with third party administrators and broker.
    • Build and nurture a collaborative MedSpeed team culture.
    • Other duties as assigned.What you need to bring to be a Risk Management and Insurance Specialist:
      • Bachelor's Degree from an accredited college or university.
      • 2+ years of experience in the field of insurance or claims investigation. Strongly prefer Workers' Comp claims management experience across multiple states.
      • Knowledge of commercial auto and general liability coverages
      • Excellent written and oral communication, strong interpersonal skills; collaborative, able to work well across departments
      • Well organized, able to monitor all open claims an update claim files per documentation guidelines.
      • Familiar with best claims practices and applicable laws, court procedures, precedents and government regulations
      • Ability to use relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
      • Basic ability to recognize and analyze new or changing information that could affect the claims handling strategy and/or potential claims cost, and effectively use the information to manage the claim.
      • Ability to use logic and sound reasoning to identify alternative solutions for problem solving.
      • Ability to create and execute specific goals and plans to prioritize, organize, and accomplish work.
      • Basic understanding of how to evaluate the relative costs and benefits of potential actions to choose the most appropriate one.
      • Ability to develop and maintain constructive and cooperative internal and external relations.
      • Strong computer skills, Microsoft Office Suite proficiency

Keywords: MedSpeed, Elmhurst , Risk Management and Insurance Specialist, Executive , Elmhurst, Illinois

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