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AIG · 2 days ago

Recovery Specialist, Large Loss

GA-Atlanta

Full-time

Onsite

Senior Level

$70K/yr - $82K/yr

5+ years exp

AIG is a global leader in commercial and personal insurance solutions, and they are seeking a Recovery Specialist, Large Loss to manage the end-to-end recovery process for complex claims. The role involves investigating and pursuing recovery opportunities while ensuring minimal recovery expenses, and requires discretion and professional judgment in negotiations.

BankingFinancial ServicesInsurance

Responsibilities

Reviews assigned claim files to determine if recovery is feasible, investigates and evaluates liability issues, coordinates investigations by expert witnesses, proactively follows up with relevant parties, handles arbitrations, and refers cases to approved attorneys

Conducts missing investigations, assesses liability, and negotiates the best possible settlement under the terms of the contract

Reviews assigned files for adequacy of investigation and recognition of recovery potential by claims personnel

Counsels and assists claims personnel in appropriate recovery investigation and file documentation to ensure that the company is properly positioned to pursue a lucrative recovery

Advises management of deficiencies in investigations conducted by claims personnel which result in diminished chances of recovery

Corresponds with appropriate parties in accordance with established procedures regarding claim information, notice/demand of payment and related issues

Prepares activity reports on files over settlement authority

Maintain a diary of facts and activity regarding assigned files, ensuring compliance with Statute of Limitation requirements

Researches, understands, and applies state laws that relate to each file. Keeps management advised of legislative, regulatory, and legal developments which may have an impact on recovery results

Provides all investigative information to attorney-of-record, and monitors and controls case development and settlement to ensure that recovery potentials are met

Approves and issues, within established guidelines and authority, indemnity and legal payments through the appropriate Claims Processing Systems

Forecasts potential recoveries and updates the recoverable amount as needed

Provides customer service assistance to outside organizations and AIG Claim Operation management

Complete focused claims reviews for all lines of business within AIG domestically as assigned. This includes analysis, documentation of results and suggestions for improvement

Assist team on ad-hoc duties, projects, and other assignments delegated by Managers/Leaders

Handle caseload across relevant jurisdictions while ensuring all tasks are completed properly

Testify and present evidence at administrative and criminal court proceedings as required

Establish and maintain professional working relationships with insureds, lawyers, corporate employees, and vendors

Develops legal briefs and contentions for arbitration submissions and as assigned, sits on arbitration panels

Directs negotiation strategies and, for large property recoveries, directs attorneys in managing agreed to subrogation plans

Participates in training by providing information as a subject matter expert as requested

Qualification

Claims recovery experienceProperty & Casualty insuranceNegotiation skillsState lawsMS Office proficiencyOral communication skillsWritten communication skillsWork under pressure