Claims Representative 2

Overview

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

We’re a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

The Claims Representative II researches, evaluates, and processes non-contestable and complex life and health claims in accordance with contractual, regulatory, productivity, and quality requirements. The role communicates with claimants and business partners, maintains complete claim records, supports reinsurance and accounting activities, and helps resolve claims-related issues accurately and efficiently.

Responsibilities

• Establish, research, and process non-contestable and complex claims within established productivity and quality standards.• Review company and policy records; use approved databases and search methods to confirm coverage, claimant identity, and claim validity.• Review beneficiary and ownership changes, collateral assignments, estates, trusts, minor-beneficiary requirements, divorce statutes, and other applicable requirements to determine payment eligibility.• Evaluate accelerated death, foreign death, waiver, and accidental death claims; request investigations or additional documentation when needed.• Identify fraud indicators and escalate potential concerns, including issues involving foreign death claims.• Open and maintain claim files in accordance with departmental procedures, documenting all material activity and decisions.• Follow up on pending claims within applicable contractual, regulatory, and departmental timeframes.• Apply escheat procedures and conduct public-record searches when required.• Process settlements and payments in administrative systems using applicable postmortem-interest statutes, dividend calculations, and contract provisions.• Prepare disbursement correspondence and document interest and payment amounts in the claim file.• Complete required tax form reviews and filings, including Form 712, when applicable.

• Process manual policy accounting and reconciliations of suspense accounts where required. 

• Communicate clearly and professionally with claimants, attorneys, agents, reinsurers, and internal partners regarding claim requirements, status, and resolution.• Respond to calls and correspondence related to initial claim notifications.• Review pending claims with management, identify barriers, and recommend appropriate solutions.• Consult with other departments to resolve claims administration issues, including competing claim matters.• Notify reinsurers of newly filed death or waiver claims and bill them for their share of applicable liabilities.• Communicate with reinsurers to resolve case-specific issues and follow up on outstanding recoverables.• Provide reporting and analytical support for monthly death-verification reviews and other assigned initiatives.• Assist with training claims representatives on specialized claims processes.• Develop analytical methods and reporting formats for special projects assigned by management.• Perform other related duties and projects as assigned.

Qualifications

Required Experience and Knowledge

• At least two years of experience as a Claims Representative I or comparable claims experience.• Advanced knowledge of claims practices, claims systems, policy records, life insurance products, and contract provisions.

Preferred Education and Credentials• Some college coursework.• Three to five years of experience in claims, customer service, or a related insurance administrative role.• LOMA 281, LOMA 291, and ACS 100 coursework.

Required Skills and Competencies• Typing speed of at least 35 words per minute.• Strong attention to detail, organization, prioritization, and time-management skills.• Excellent written and verbal communication and customer service skills.• Sound decision-making, problem-solving, analytical, technical, and negotiation skills.• Ability to interpret contract language and provisions and apply product knowledge accurately.• Ability to collaborate effectively with colleagues and business partners.• Ability to work accurately in a fast-paced environment while managing multiple priorities.• Proficiency in Microsoft Word and Excel.

What’s in it for you?

The expected hiring compensation range for this position is $55,200 - $65,000 annually. This is a remote opportunity working from 8:30 AM to 5PM EST. 

The total compensation package for this position may include other elements, such as long term incentives and annual bonuses.  This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 3% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 10 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.