Subrogation Recovery Specialist
Penske · Reading, Pennsylvania, United States
Position Summary:
The Subrogation Recovery Specialist is responsible for evaluating collection and subrogation opportunities. The role will identify legal liability and aggressively pursues, negotiates, and settles subrogation recovery claims. The Subrogation Recovery Specialist researches, coordinates, and negotiates with other departments, insurance adjustors, household and commercial customers, collection companies, witnesses, attorneys and more to obtain the necessary evidence and documentation to determine the appropriate path for each recovery opportunity. They are skilled in analyzing and investigating data and making prompt and sound business decisions. The position requires strong negotiation skills to obtain the highest settlement possible while adhering to company policies and procedures.
Major Responsibilities:
- Investigate, analyze, and determine party responsible for accident or damage. This could be an outside third party or our customer. Careful analysis of and interpretation of the facts as well as our contracts is necessary.
- Research and obtain supporting documentation for all expenses associated to the claim including estimates, photographs, accident/incident billing expenses. This includes navigating Penske’s internal systems and applications.
- Prepare demands and negotiate settlements based on evaluation of opposing arguments from at fault party and prepare rebuttal to optimize results.
- Utilization of best practices to determine if outside vendor intervention is needed.
- Receipt and application of funds to ensure appropriate financial processing by accounts receivable.
- Communication with stakeholders on recover status, resolution, and closure of file.
- Identification of process improvements.
- Other tasks and assignments as assigned by Manager.
Qualifications:
-High School degree required, degree preferred.
-2+ years of experience in subrogation recovery claims handling is preferred.
- 1+ years of experience in adjusting claims is preferred.
- Excellent negotiation skills and the ability to make fact-based decisions in a timely manner.
- Independent thinker, self-starter, ability to work and make decisions on your own.
- Excellent written and verbal communication skills.
- Computer skills in Access, Excel, Word, AS400, Outlook, and Internet research.
- Ability to multitask is necessary.
- Good presentation skills.
Physical Requirements:• The physical and mental demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.• The associate will be required to: read; communicate verbally and/or in written form; remember and analyze certain information; and remember and understand certain instructions or guidelines.• While performing the duties of this job, the associate may be required to stand, walk, and sit. The associate is frequently required to use hands to touch, handle, and feel, and to reach with hands and arms. The associate must be able to occasionally lift and/or move up to 25lbs/12kg.• Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus. Penske is an Equal Opportunity Employer