Insurance Risk Analyst

2 weeks ago

Houston, Texas, United States BIC Recruiting Full time
Job Overview

COMPANY BACKGROUND: BIC Recruiting is a prominent firm specializing in industrial services, focusing on sectors such as petrochemicals, refining, and power generation.

POSITION TITLE: Insurance Risk Analyst

COMPENSATION: Competitive salary based on experience

BENEFITS: Comprehensive benefits package

LOCATION: Houston, TX

ROLE SUMMARY: The Insurance Risk Analyst plays a crucial role in evaluating the management and processing of insurance claims within the organization. This position collaborates closely with the Director of Risk Management to conduct risk evaluations, generate reports, and oversee interactions with insurance providers.

KEY RESPONSIBILITIES:

  • Oversee various claims including workers' compensation, auto incidents, and property theft, liaising directly with insurance carriers and adjusters to manage all OCIP claims.
  • Coordinate with the legal department to ensure accurate reporting of all EPLI claims.
  • Maintain and manage the company's self-insured claims portfolio.
  • Ensure compliance with mandatory Medicare Section III reporting requirements.
  • Organize and lead scheduled claim review meetings with third-party administrators and insurance carriers.
  • Assist the Risk Management Director with inquiries regarding coverage, contract evaluations, and other related issues.
  • Facilitate the integration of new acquisitions into the company's insurance framework.
  • Administer wrap-up reviews and enrollments; monitor costs and programs; develop annual wrap rates.
  • Collect underwriting data and prepare insurance marketing submissions for policy renewals.
  • Conduct corporate insurance accounting activities.
  • Track, monitor, and authorize monthly invoice payments.
  • Utilize data analysis to create risk management reports highlighting trends.
  • Manage the surety program, including processing bid, performance, and payment bonds, as well as Work in Progress (WIP) reporting, ensuring overall corporate compliance.
  • Review and assess insurance policies.
  • Provide recommendations for adjusting and settling claims.
  • Conduct risk assessments to identify and analyze risks impacting the organization.
  • Develop solutions for identified risks with appropriate risk control measures.
  • Analyze and report on loss trends through monthly reports and specific requests.
  • Create timely analytical reports that include tables, graphs, figures, and written interpretations of findings.
  • Assist in managing the Risk Management Information System (RMIS) for data analysis and reporting to management.
  • Process and issue Certificates of Insurance and auto liability cards.

QUALIFICATIONS:

  • 7+ years of experience in insurance or managing workers' compensation and/or auto claims.
  • 7+ years of claims experience with progressive supervisory responsibilities.
  • Bachelor's degree in risk management, finance, or a related field.
  • Strong collaborative and communication skills across all management levels.
  • Proven relationship-building skills and a strong work ethic.
  • Excellent time management, planning, and organizational abilities.
  • Strong decision-making skills with the ability to provide innovative solutions to challenges.
  • Ability to work independently as well as part of a team.
  • Proficient in Microsoft Office Suite.

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