Company Overview:
At Vault, we are not just insuring assets. We are reducing risks with data-driven technology to Protect What Matters Most to our customers.
Our team is driven by a shared commitment to protect customers’ most prized possessions. We look at the bigger picture to provide custom solutions, exceptional service, and risk management to protect their legacy proactively.
Are you thinking about joining our team? We look for self-motivated and inventive individuals who are dedicated to providing the highest level of service to our customers and partners.
The Claims Subrogation Specialist is responsible for handling subrogation demands related to both auto and property claims under $150,000. This role involves managing a portfolio of subrogation cases, negotiating recoveries, collaborating with adjusters and legal teams, and maintaining compliance with company guidelines and industry regulations. The ideal candidate has a strong understanding of claims handling, subrogation processes, and applicable state laws, along with excellent negotiation and communication skills.
Why Choose Vault:
- 46% of our workforce was referred by someone at Vault.
- 37% growth rate in staff since December 2021.
- Our Financial Strength is rated an A- by AM Best.
- We have a rating of 4.5 stars based on our customer experience reviews.
- Our leaders are respected innovators with decades of insurance expertise.
- Vault’s proprietary technology allows for enhanced capabilities, speed, and efficiency.
- Leading high-net-worth insurance provider with a foundation in customized solutions.
- Comprehensive benefits tailored to your lifestyle.
Job Responsibilities:
- Review and respond to incoming subrogation demands from other carriers, ensuring that appropriate documentation and justifications are provided.
- Prepare and submit outgoing subrogation demands to responsible third parties or insurance companies, including detailed calculations and supporting documentation.
- Manage a caseload of auto and property subrogation files, tracking the status of each case and updating internal systems accordingly.
- Review claims for subrogation potential and coordinate with adjusters and legal counsel as necessary to optimize recoveries.
- Conduct negotiations with other carriers, claimants, and third parties to secure favorable settlements and maximize recovery potential.
- Maintain up-to-date knowledge of state and federal regulations impacting subrogation and adjust practices to remain compliant.
- Partner with claims adjusters, legal teams, and vendors to investigate claims, determine liability, and facilitate subrogation efforts.
- Provide guidance to adjusters on subrogation opportunities and assist in identifying cases with recovery potential.
- Monitor and report on subrogation recovery metrics, identifying trends and opportunities for improvement.
- Analyze subrogation outcomes to assess the effectiveness of strategies and contribute to the development of best practices.
Preferred Qualifications:
- Bachelor’s degree in Business, Insurance, or related field (preferred).
- Minimum of 3 years experience in insurance claims handling, subrogation, or related areas.
- Strong knowledge of auto and property claims processes, subrogation laws, and industry standards.
- Demonstrated negotiation and analytical skills.
- Excellent verbal and written communication skills.
- Proficiency in claims management software and Microsoft Office Suite.
- Ability to manage multiple cases simultaneously and work independently.
Benefits:
- Flexible Spending Accounts & Health Savings Account, with company contributions
- Company-paid comprehensive life & disability insurance plans
- 24/7 Telehealth doctor access, virtual wellness screenings, Employee Assistance Programs
- Company 401k retirement plan with Day 1 eligibility (5% company match, 100% immediate vesting)
- 23 PTO days accrued yearly
- 11 paid holidays