Subrogation Advocate

Summary

Join NEXT Insurance as a Subrogation Claims Advocate and play a crucial role in recovering claims costs from liable third parties. You will manage a portfolio of subrogation cases, utilizing your expertise in liability assessment, claim negotiation, and commercial insurance policy interpretation. This role involves collaboration with claims adjusters, legal counsel, and external partners. The position requires a strong understanding of commercial property and liability insurance policies and subrogation laws, along with excellent communication and analytical skills. A Bachelor's degree and 3+ years of experience in subrogation are preferred. NEXT offers a competitive salary, equity incentive program, and a comprehensive benefits package.

Requirements

• Technical Knowledge: Strong understanding of commercial property and liability insurance policies, as well as knowledge of relevant state and federal subrogation laws
• Communication and Negotiation Skills: Proven ability to communicate effectively and negotiate with a range of stakeholders, including third-party insurers and legal representatives
• Analytical Skills: Detail-oriented with a strong analytical approach to assessing claims and identifying recovery avenues
• Experience: Minimum of 3+ years in subrogation, with a focus on commercial property claims handling or commercial general liability assessment within the insurance industry. We are seeking professionals with experience handling commercial claims, property claims, and/or general liability cases specifically
• Software Proficiency: Familiarity with claims management and subrogation software; experience with Xactimate or similar estimation tools is essential
• Licensure: Candidates must have, or be able to promptly obtain, any and all appropriate Independent Adjuster License(s)

Responsibilities

• Investigate and Assess Liability: Conduct thorough investigations to identify liable third parties and assess the potential for subrogation recovery
• File and Manage Subrogation Claims: Initiate, document, and manage all aspects of subrogation cases from identification through final resolution
• Negotiate Settlements: Lead negotiations with third parties, their insurers, and legal representatives to achieve optimal recovery outcomes
• Collaborate with Claims Teams: Work alongside claims adjusters to identify subrogation opportunities within ongoing and closed commercial property and liability claims
• Documentation and Reporting: Maintain detailed and organized records of all subrogation activities, including recovery amounts, legal actions, and negotiation outcomes
• Policy Analysis and Compliance: Review and interpret policy language to ensure recovery efforts align with company policies and relevant legal requirements
• External Vendor Management: Engage and coordinate with external recovery specialists, attorneys, and investigators as needed to enhance recovery efforts

Preferred Qualifications

• Education: Bachelor's degree in Business, Insurance, or a related field is preferred
• Knowledge of construction methods is beneficial

Benefits

• Partially subsidized medical plan
• Fully subsidized vision/dental options
• Life insurance
• Disability insurance
• 401(k)
• Flexible paid time off
• Parental leave
• Equity incentive program