at Chubb in Chicago, Illinois, United States
Job Description
JOB DESCRIPTION
In partnership with our outside vendor, BPO, this position will be responsible for premium reconciliation, discrepancies, and monitoring policies' financial status.
The Premium Reconciliation Consultant is expected to perform and prioritize billing and/or premium functions, executing tasks and responsibilities while building and maintaining positive relationships with internal and external clients. Direct ownership of a block of business as it relates to premium management. This position will support a larger and more complex book of clients.
This position requires strong analytical skills, relationship management, communication, judgment, organizational skills, and problem resolution to meet the diverse needs of our clients.
RESPONSIBILITIES
- Manage block of multiple policies and accounts from a premium accounting and billing perspective.
- Work with BPO to ensure accuracy of premium payments and application.
- Conduct premium payment audits when required to help clients identify incorrect or missing payments.
- Communicate policy financial status to internal and external partners.
- Responsible for past due management, billing discrepancies, and error templates for assigned block. This includes up lapsing, payment collections, and member detachment.
- Communicate and collaborate with internal departments including client services, underwriting, and others to provide timely and effective resolution to any premium or billing challenges, changes, updates, or errors; effectively communicate findings to the appropriate parties; take initiative and follow-through as the liaison with other internal departments as necessary.
- Partner with client finance on any communication necessary to resolve billing vs. remittance challenges and past due invoices.
- Responsible for suspense management, unapplied premiums, and reconciliation for assigned block.
- Develop and maintain positive relationships and rapport with internal and external clients.
- Attend Implementation calls with our groups to serve as the SME for billing-related matters sharing your extensive knowledge of the billing processes, systems and best practices.
- Provide on-going client support for billing/premium to ensure members no longer employed by the group are appropriately transitioned to direct billing.
- Provide any premium reports to necessary areas to continue servicing the account. Handle salesforce items to resolution for inforce customers.
- Partner with necessary areas on account reviews and audits to highlight broker or client concerns with the account overall and assist with development of action plans to address issues, risks, and opportunities.
- Support teammates as needed and drive results for goals and key performance indicators.
- Ensure process maps and documentation are kept up to date. Create any needed documentation when gaps are identified or new processes are created.
- Conduct any necessary testing for new processes, systems, or equipment to ensure low impact to team and clients.
- Perform other duties as assigned.
COMPETENCIES
- Relationship-Builder - Is helpful, respectful, approachable, team and service-oriented, building strong working relationships and a positive work environment; maintains an exceptional client service mindset.
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Problem Solving - Takes an organized and logical approach to thinking through problems and complex issues. Simplifies complexity by breaking down issues into manageable parts. Looks beyond the obvious...
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
