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Property Claims Trainee

Location: Jersey City, NJ, United States
Date Posted: Jul 12, 2019

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Job Description

Marketing Statement

About Tokio Marine:

Tokio Marine has been conducting business in the U.S. market for over a century and we are licensed to write all lines in 50 states, Puerto Rico and the District of Columbia. We provide unique insurance and risk management tools from our experienced staff of account executives, underwriters and loss prevention engineers and fair and timely claim settlement from a skilled team of claim professionals.   We work with major brokers and leading independent insurance agents throughout the United States to serve the world's largest and most distinguished organizations. 

We are committed to creating value for our customers by providing ANSHIN (safety, security and peace of mind).  We strive to be creative and passionate as we work towards our long-term success. 

Tokio Marine Holdings is Japan's oldest, and one of the largest property and casualty insurers. Founded in 1879, TMNF operates worldwide in 38 countries. With annual revenues of approximately $18 billion and an A.M. Best rating of A++, one of the highest in the industry, we are one of the top 20 insurance providers worldwide.

Duties

Job Summary:

Manage individual First Party Commercial Property losses under standard, manuscript and inland marine insurance policy forms. Responsible for policy coverage verification, claim investigation, evaluation, reserving and settlement within a set level of authority.

 

Essential Job Functions:

  • Confirm and verify insured policy and coverage information.
  • Contact insured within 24 hours as outlined in the Consolidated Claims Procedures.
  • Obtain all relevant and material facts of loss to determine policy application. Prepare coverage denials and/or reservations of rights letters.  
  • Conduct in-house investigations utilizing telephone and correspondence to obtain appropriate loss documentation.
  • Utilize and manage Independent Adjusters to investigate and evaluate the scope of loss as needed.
  • Assign and manage Building Trade Consultants, including but not limited to Electricians, Plumbers, Carpenters and Roofers to assist is assessing scope and causes of loss.
  • Assign and manage Forensic Accountants to assist in analysis of Business Income losses.  
  • Establish and maintain proper loss reserves. Negotiate loss settlements.  
  • Identify and determine subrogation and salvage potential of losses.
  • Maintain compliance with Fair Claim Practices Act, State specific insurance regulations and internal claims procedures as outlined in the Consolidated Claims Procedures.
  • Promptly respond to correspondence and inquiries from insureds, brokers, TMM employees, attorneys and vendors according to Customer Service Standards.
  • Prepare written reports for Customer Claim Reviews and Serious Loss Reports as needed.
  • Responsible for complying with proper internal controls as necessary to conduct job functions and/or carry out responsibilities and/or administrative activities in the company.

 

Other Functions:

  1. Perform special projects and other duties as may be assigned.
  2. Regular and reliable attendance.
  3. Ability to work independently and as part of a team.
  4. Occasional travel as needed.

Qualifications

  • Bachelor's degree preferred
  • No claims experience required but two year’s work/business experience preferred
  • Must be able to acquire and maintain a New York State General Adjuster license and other state licensure as needed.
  • Ability to organize effectively and manage multiple priorities
  • Excellent oral and written communication skills

 

Additional Information:

·         Must be willing to enroll and successfully complete a 2 to 3 week fully paid offsite training course in Commercial Property Adjusting

EEO Statement

Tokio Marine Management is an Equal Opportunity Employer. In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status, or sexual orientation.

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