Premium Analyst - (FM12070)

Reliance Standard Philadelphia, PA
The Premium Analyst analyzes both self-administered and list bill premiums, reporting issues along with employee changes received for a designated region. Responsible for assigned Regional Sales Offices/Team suspense accounts and queues in the premium processing workflow application consisting of premium reporting items that could not be posted by the processing center. Works with the policyholder, the Regional Sales Offices (RSO) and the Underwriting Teams, etc. via telephone or email to resolve these problem situations so that the premium can be posted.

Duties and Responsibilities:

Analyzes and/or researches premium payments that were not posted by the processing center and determines whether there are reporting issues, rate discrepancies, over/underpayments or missing payments. Notifies the client, RSO and/or underwriting accordingly.

Posts any premiums that were not posted by the processing center on a daily basis based on departmental guidelines.

Provides a consistently high level of service to all customers and resolve Customer Service referrals received from the Call Center within specified timeframes.

Verifies Service Waiting Period eligibility and add or update list bill employee data based on information reported on the list bill premium statements.

Maintains an ongoing personal Suspense balance based on current departmental guidelines.

Researches and identifies suspense items that are over 60 days and provides the management team with an explanation as to why they are in suspense.

Researches and identifies due and unpaid items that are over 90 days and provides the management team with an explanation as to why they are not posted.

Performs audits of policies, assigned by the management team, with premium rate changes to ensure that the policyholders are paying the correct rates and the premium is being posted correctly.

Reviews and corrects any variance issues that have been reported to them by the Audit Department within 2 days.

Performs system testing when requested by the management staff.

Notifies management of entries to the Cash Error account, within 24 hours, and reconciles all entries within 30 days.

All other duties as assigned.

Education, Qualifications and Experience:

Associate’s Degree or equivalent required.

At least two years experience in a high volume premium processing and billing operation.

Must be capable of developing an understanding for the intricacies of both List Bill and Self-Administered bill processing.

Must have a high degree of flexibility and a willingness to get involved and perform detailed and diversified duties when special situations arise (i.e. projects, coordinate activity for “special” policies, address Customer Service issues, etc…)

Mathematical aptitude required.

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