Recovery Representative, Senior

Berkeley Heights NJ
March 19 2018
Insurance, Securities

Functional Area:

CL - Claims

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

AIG Claims, Inc.

AIG and its member companies form one of the world's leading insurance organizations. We provide insurance for businesses and individuals, helping individual customers plan for their futures by offering life insurance, travel insurance, product warranty, auto insurance and retirement products. Our commercial clients have come to rely upon our risk expertise and financial strength to help them address some of their most complex challenges - from huge construction projects to protecting themselves from the emerging threats to data security. We offer our people the chance to grow in a dynamic company that values teamwork, fresh perspectives, and a commitment to helping their clients.

Under moderate supervision, the Recovery Representative, Senior identifies and pursues opportunities for recovery/subrogation to maximize amounts received from third parties who are wholly responsible or share liability for damages paid to claimants by AIG. Incumbents at this level typically handle files of higher value and/or complexity than those handled by the core level. Typical responsibilities include but are not limited to the following:

  • Reviews assigned claim files to determine if recovery is feasible, investigates and evaluates liability issues, coordinates investigations by expert witnesses, proactively follows up with relevant parties, handles arbitrations, and refers cases to approved attorneys. Conducts missing investigations, assesses liability and negotiates the best possible settlement under the terms of the contract.
  • Reviews assigned files for adequacy of investigation and recognition of recovery potential by claims personnel. Counsels and assists claims personnel in appropriate recovery investigation and file documentation to ensure that the company is properly positioned to pursue a lucrative recovery. Advises management of deficiencies in investigations conducted by claims personnel which result in diminished chances of recovery.
  • Corresponds with appropriate parties in accordance with established procedures regarding claim information, notice/demand of payment and related issues.
  • Prepares activity reports on files over settlement authority.
  • Maintain a diary of facts and activity regarding assigned files, ensuring compliance with Statute of Limitation requirements.
  • Researches, understands and applies state laws that relate to each file. Keeps management advised of legislative, regulatory and legal developments which may have an impact on recovery results.
  • Provides all investigative information to attorney-of-record, and monitors and controls case development and settlement to ensure that recovery potentials are met.
  • Approves and issues, within established guidelines and authority, indemnity and legal payments through the appropriate Claims Processing Systems.
  • Forecasts potential recoveries and updates the recoverable amount as needed.
  • Provides customer service assistance to outside organizations and AIG Claim Operation management.

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives