Claims Compliance Analyst at Clearcover
Clearcover is the smarter car insurance company. We use powerful technology to offer everyday drivers better coverage for less money. We’re proud to be one of the fastest growing startups in Chicago, and we’re currently looking to add a few more extraordinary people to our team.
What is a Claims Compliance Analyst?
Clearcover is looking for an experienced insurance claims professional to join its fast growing team. The Claims Compliance Analyst supports the Legal & Compliance department by ensuring our Claims team meets both regulatory and statutory compliance requirements and our internal company standards.
What will you do as a Claims Compliance Analyst?
- Collaborate with Claims and Compliance leaders to support initiatives directly related to compliant claims handling.
- Research relevant regulatory and statutory provisions to prepare internal communications, assist with claim coverage inquiries, and implement new laws or regulatory requirements.
- Lead the development and/or enhancement of best practice guidelines and compliance training for the Claims team.
- Provide the Claims team with a Compliance roadmap for new and existing states, product launches, and business lines, including creation of any applicable communications: forms, notices, and disclosures.
- Complete claim file audits with specific focus on compliance objectives and market conduct standards to monitor performance and ensure adequacy of reserves and system controls.
- Take ownership of any necessary remediation or corrective action plans associated with identified compliance control or process gaps related to Claims.
- Assist Compliance leaders with claims-related Market Conduct exams and represent Claims and Compliance teams in any external audits.
- Responsible for timely submission of state mandated fraud plans and reconciliation of Claims Data for the annual MCAS to the NAIC.
- Review and respond to any external complaints, including those from the Better Business Bureau or Departments of Insurance, regarding company claims handling.
- Maintain an awareness of market trends, regulatory updates, and compliance risk with regard to the Claims function and communicate this to appropriate stakeholders.
- Provide analysis and reporting to drive improvements, reduce risk and complaints, and establish consistency across the Claims organization.
What will you bring as a Claims Compliance Analyst?
- Bachelor's Degree
- 3-5 years of P&C claims handling experience, preferably in private passenger auto
- Insurance designations, such as AIC, ARM, or CPCU, highly desirable
- Excellent Communication and Analytical skills
- Detail-oriented person who can manage multiple on-going projects at the same time
- Takes direction well and can work both independently and collaboratively with a team
- Proficient in Microsoft Office Products (Word, Outlook, Excel, Access)
- Proficient in reading and interpreting statutory and/or administrative codes and regulationsAble to work in a fast paced environment and leverage past experience to make solid recommendations for the business
- Ability to work independently, execute multiple tasks simultaneously, and cut through ambiguity
- Unrivaled attention to detail and consistent delivery of the highest quality of work
What's in it for you?
- Unlimited vacation, we hire adults
- Equity for all employees, so you own a piece of the pie too
- Dental and Vision, we've got you covered 100%
- Medical, we cover the vast majority of your premiums to make the cost of you and your family's coverage affordable. Plus, we contribute to your HSA and HRA (cha-ching)
- Flexibility to work remotely
- We invest in your future by contributing 3% of your salary to a 401(K), even if you don't
- Come to work pre-taxed through our FSA commuter benefits
- and yes, we have unlimited LaCroix, beer, snacks and the occasional ice cream social
Clearcover is an Equal Opportunity Employer (EOE) that welcomes and encourages all applicants to apply regardless of age, race, color, religion, sex, sexual orientation, gender identify and/or expression, national origin, disability, veteran status, marital or parental status, ancestry, citizenship status, pregnancy or other reasons prohibited by law.