This role is an individual contributor responsible for the overall management of highly complex excess healthcare accounts. An Excess Institutions Account Consultant provides service to both internal and external business partners on excess healthcare accounts by monitoring losses, performing audits, and analyzing the risk presented by our accounts.
The ideal candidate would be recognized as a technical expert in the interpretation of complex or unusual coverages involving excess, umbrella, and reinsurance policies in a variety of practice areas including hospitals, physicians, and aging services. Medical Malpractice claim handling experienced required.
Location is flexible.
Essential Duties & Responsibilities
1. Review and analyze excess account submissions, working closely with underwriting partners, brokers, and the accounts to determine the potential excess exposure presented by a new account.
2. Participates in marketing meetings with underwriting partners, presenting the benefits accounts receive by working with CNA.
3. Reviews loss notices and loss runs for individual claims which may impact CNA’s excess layer and for the potential of overall policy aggregate erosion.
4. Performs annual account reviews for excess accounts in the form of an on-site Audit or Loss Run Analysis.
5. Following the annual account review, the Excess Institutions Account Consultant drafts a detailed report and works with underwriting, claim, risk, and actuary on the issues presented therein.
6. Works closely with claim partners on the potential exposure presented by open claims and the appropriate reserving of said claims.
7. Actively participates in discussions with actuarial partners, determining the risk presented by each excess account and the applicability of IBNR.
8. Provides excellent customer service by consulting with insured accounts and providing them with claim and risk resources to meet their individual needs. The Excess Institutions Account Consultant acts as the main point of contact for excess accounts, so it is essential that they be able to act as an ambassador for CNA and handle issues and concerns with skill and tact.
9. Makes recommendations on excess account monitoring processes and strategies to management.
10. Keeps current on state/territory regulations and issues, industry activity and trends. May participate in industry trade groups.
11. Provides guidance and assistance to less experienced staff and other functional areas.
12. Responsible for input of data that accurately reflects account circumstances and other information important to our business outcomes.
May perform additional duties as assigned.
1. Advanced technical and product specific expertise, claims resolution skill and knowledge of insurance and claims principles, practices and procedures.
2. Strong communication, negotiation and presentation skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
3. Advanced analytical and problem solving skills, with the ability to manage and prioritize multiple projects.
4. Ability to deal with ambiguous situations and issues.
5. Advanced coverage skills from working on accounts with excess, umbrella, and reinsurance policies as well as experience with first dollar policies and self-insured retentions.
6. Experience with managing litigated healthcare excess claims.
7. Creativity in resolving unique and challenging business problems.
8. Knowledge of Microsoft Office Suite and other business-related software.
9. Ability to adapt to change and value diverse opinions and ideas.
10. Ability to manage and prioritize multiple projects and meet critical deadlines.
11. Ability to evaluate claims based on a cost benefit analysis.
12. Ability to fully comprehend complex claim facts and issues; and to further articulate analyses of claims in presentations to business partners and management as well as in internal reports.
13. Ability to implement strategies with a proactive long-term view of business goals and objectives.
Education & Experience
1. Bachelor's degree or equivalent experience. Professional designation preferred.
2. Typically a minimum eight years claims experience, with a focus on healthcare claims or healthcare law.
Internal Number: CLA00028K
About CNA Insurance
At CNA, we focus on what we do best — providing insurance solutions that allow our customers to better manage their risks and grow profitably. We use our expertise to continually evolve our products and services to anticipate and address our customers' needs. Our broad portfolio enables us to respond to a wide range of business risks while focusing on the specialized needs of our insureds in construction, manufacturing, technology, healthcare, professional services, financial institutions and small business.