Insurance Claims Manager- Risk Analysis

Location:

Job Summary
The Insurance Risk Analyst / Claims Manager is responsible for receiving, investigating, and managing potential and actual claims eligible for coverage under KeyCorp's insurance policies, providing insights to mitigate loss, managing RMIS and financial data, and providing support to others throughout the organization in matters related to insurance, claims management, and loss control.

Responsibilities

• Maintain broad working knowledge of manuscript policy terms and conditions and claims reporting and management criteria across multiple lines of coverage, with emphasis in General Liability, Auto, and Umbrella; Property; and to a lesser extent, Cyber, Executive Risk lines and Workers’ Compensation
• Make prompt and concise coverage determinations relating to incidents, claims and litigation.
• Maintain accurate and timely documentation of intake of and communications related to incident reports and claims and flow of additional information required for General Liability, Auto, and Property matters.
• Oversee and direct management and resolution of complex losses. Interact with TPAs, including establishing standards and monitoring results, and addressing vendor management protocols.
• Engage with internal and outside counsel, including monitoring and recording of investigation, legal and settlement expenses.
• Participate in negotiations, mediations, and arbitrations with claimants and insurers.
• Engage in the subrogation process to pursue recovery from responsible third parties as warranted.
• Manage the RMIS (Risk Management Information System), organize and analyze loss data for underwriting purposes; compile data for actuarial analysis, internal or regulatory reporting, and other uses.
• Manage financial transactions including premium allocation and payment, claim reserve accounting, and claims expense and settlement payments.
• Engage with Facilities, Legal, and Risk to identify emerging risks for underwriting purposes; provide feedback loop to department management to bridge the gap between underwriting and claims, identifying trends with insured claims and risks not typically considered insurable
• Manage workflow associated with insurance site inspections and boiler inspections, and related recordkeeping.
• Performs other duties as assigned; duties, responsibilities and/or activities may change or new ones may be assigned at any time with or without notice
• Complies with all KeyBank policies and procedures, including without limitation, acting professionally at all times, conducting business ethically, avoiding conflicts of interest, and acting in the best interests of Key’s clients and Key.

Education Qualifications

• Bachelor's Degree in risk management or a business-related field (preferred)
• Professional designation such as Associate in Risk Management (preferred)
• Experience with insurance underwriting (preferred)

Experience Qualifications

• 5+ years experience working with insurance claims, preferably in a corporate setting (preferred)
• 2+ years experience in bookkeeping or accounting functions (preferred)

Tactical Skills

• Ability to engage confidently with senior business executives
• Excellent communications skills, both verbal and written
• Analytical skills, particularly toward structure and design of insurance solutions

Personal Skills

• Critical Thinking: The ability to identify, obtain, and organize relevant data and ideas and prioritize concerns in the decision-making process
• Problem Solving: Demonstrates the ability to examine a specific problem and understand the perspective of stakeholders; uses fact-finding techniques to identify and document specific problems
• Collaboration: Demonstrates experience in participating in productive collaborative processes that help solve business problems and meet business goals

Practical Skills

• Attention to Detail
• Business Acumen: Participates in business tasks to get things done in own business unit and communicates key considerations for business decision-making processes
• Analytical Thinking: Uses logic and intuition to make inferences about the meaning of data and arrives at relevant conclusions; makes a systematic comparison of two or more alternative solutions
• Risk Management: Implements or manages risk management for own business unit and documents key steps of the risk management process and associated procedures
• Working familiarity with Word, Excel and Adobe software, and RMIS systems

Core Competencies

• All KeyBank employees are expected to demonstrate Key’s Values and sustain proficiency in identified Leadership Competencies.

Physical Demands

• General Office - Prolonged sitting, ability to communicate face to face in person or on the phone with teammates and clients, frequent use of PC/laptop, occasional lifting/pushing/pulling of backpacks, computer bags up to 10 lbs.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $70,000 to $85,000 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.

Please click here for a list of benefits for which this position is eligible.

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be Mobile or Home-based, which means you may work primarily either at a home office or in a Key facility to perform your job duties.

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.

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