Premium Reconciliation Specialist

Chubb · Chicago

In partnership with our internal business partner, BPO, this position will be responsible for premium reconciliation, discrepancies, and monitoring policies’ financial status for all distribution channels.

The Premium Reconciliation Specialist 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 requires strong analytical skills, relationship management, communication, judgment, organizational skills, and problem resolution to meet the diverse needs of our clients.

Location: Chicago, IL; Columbia, SC; Chattanooga, TN; or Portland, ME.
Work arrangement: In-Office Expectation: 4 days in office, 1 day remote.

RESPONSIBILITIES

Effectively manage a block of multiple policies and accounts from a premium accounting and billing standpoint.
Work with the BPO Team 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 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 the client finance representative 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 new groups to serve as the SME for billing-related matters and present billing options.
Provide on-going client support for premium and billing 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 in force 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.
Perform other duties as assigned.

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.

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