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Premium Audit Collections Specialist

Company: The Cincinnati Insurance Companies
Location: Fairfield
Posted on: October 13, 2020

Job Description:

Premium Audit - Collections Specialist US-OH-Fairfield Make a difference with a career in insurance At The Cincinnati Insurance Companies, we put people first and apply the Golden Rule to our daily operations. To put this into action, we're looking for extraordinary people to join our talented team. Our service-oriented, ethical, knowledgeable, caring associates are the heart of our vision to be the best company serving independent agents. We help protect families and businesses as they work to prevent or recover from a loss. Share your talents to help us reach for continued success as we bring value to the communities we serve and demonstrate that Actions Speak Louder in Person. If you're ready to build productive relationships, collaborate within a diverse team, embrace challenges and develop your skills, then Cincinnati may be the place for you. We offer career opportunities where you can contribute and grow. Start your journey with us Our Premium Audit department is currently seeking a Collections Specialist Starting salary: Job Summary: Review of new bad debt/collection accounts to include set up of collection files, monitoring incoming payments, and refer files to 3rd party collection agency when necessary. Managing promissory note payments, late notices, and defaults. Maintain colleciton spreadsheets and interact with accounting. New Accounts Verify agency billed accounts qualify for direct collection Review bad debt/collection account in various software packages (EDM, CinciBill, Peoplesoft, etc.) to confirm audit is correct and validity of amount owed Communicate with underwriting to have policy cancelled when necessary Create bad debt/collection file Send collection letter and copies of audit(s) in collections to insured and perform all documentation to support collection letter efforts Discuss collection amount with insured and negotiate payment terms if necessary Communicate with legal department when bankruptcy is filed Coordinate settlement offers with Premium Audit Processing Manager Monitor Incoming Payments Process incoming checks from insured towards collection amount owed Process incoming checks from 3rd party collection agency towards amount owed Update Peoplesoft system as payments are received Close files and complete tasks when collection is paid Referral to 3rd Party Collection Agency Communicate with 3rd party collection agency on documents needed and provide all information/documents necessary pursue collection. Monitor activities of collection agency and update internal collection file as needed Coordinate approval for litigation with Premium Audit Processing Manager Coordinate attendees to depositions and court hearings Process check requests attorney fees and court costs Update spreadsheet for collection activity monthly Manage Promissory Notes Process incoming checks from insured towards promissory note amount owed Maintain spreadsheet for all promissory note activity Communicate late payments and default notices with agency Communicate with underwriting to have policy cancelled for default Supply contract admin with payment status and final payment/close file documentation Be equipped with: high level knowledge of Premium Audit functions excellent organization skills and the ability to work on multiple projects and assignments simultaneously negotiation skills with the ability to influence others by educating and sharing information strong listening, verbal, and written communication skills with the ability to present information to a variety of audiences strong computer skills with emphasis on Excel and ability to work in multiple software at one time five years Insurance/Premium Audit Processing Experience proven ability to work independently proven ability to manage multiple priorities Enhance your talents Providing outstanding service and developing strong relationships with our independent agents are hallmarks of our company. Whether you have experience from another carrier or you're new to the insurance industry, we promote a lifelong learning approach. Cincinnati provides you with the tools and training to be successful and to become a trusted, respected insurance professional - all while enjoying a meaningful career. Enjoy benefits and amenities Your commitment to providing strong service, sharing best practices and creating solutions that impact lives is appreciated. To increase the well-being and satisfaction of our associates, we offer a variety of benefits and amenities. Learn more about our benefits and amenities packages. Embrace a diverse team As a relationship-based organization, we welcome and value a diverse workforce. We provide equal employment opportunity to all qualified persons without regard to race; creed; color; sex, including sexual orientation, gender identity and transgender status; religion; national origin; age; disability; military service; veteran status; pregnancy; AIDS/HIV or genetic information; or any other basis prohibited by law. Learn more about the Federal Employment Notices.

Keywords: The Cincinnati Insurance Companies, Fairfield , Premium Audit Collections Specialist, Accounting, Auditing , Fairfield, Ohio

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