What are the responsibilities and job description for the Premium Analyst position at Reliance Standard?
Job Responsibilities and Requirements
Under minimal supervision, the Premium Analyst has full responsibly for maintaining an assigned book of business. This includes, but is not limited to; suspense management, analyzing and applying premium, developing relationships with the National Sales Organization, Account Managers, Brokers and policyholders to resolve simple to complex billing issues.
Works within a high-volume, fast paced environment service operations team that posts over $1 billion dollars of premium annually.
Duties and Responsibilities :
- Independently analyzes and / or researches premium payment exceptions to determine whether there are reporting issues, rate discrepancies, over / underpayments or missing payments. Communicates with the client, Broker, National Sales Organization, and / or Underwriting accordingly
- Works closely with assigned Policyholder, Account Managers and Brokers to resolve suspense, premium support and billing issues to efficiently post premium and provide education on our processes to mitigate future service issues
- Applies premium that was not processed by the processing center, or by the online billing system, in accordance with established business rules
- Performs audits on policies, as required or when assigned by the management, to ensure that the policyholders are calculating premium correctly and paying in accordance to current rates
- Independently analyzes and researches aging suspense items and determines proper course of action for resolution. As required, communicates with leadership team on recommendations for clearing suspense
- Analyzes policy variances generated by the billing system. Obtains explanations from policyholder, Broker or TPA on identified variances before applying premium
- Perform daily review of various system reports to circumvent possible premium billing issues
- Validate or calculate premium due for customers with incomplete support
- Researches due and unpaid items that are over 90 days. Work with policyholder, Brokers, TPA, internal partners on resolution
- Initiates premium refunds resulting from a policy review, formal audit, policy overpayment, or paid beyond policy termination date
- Independently completes assignments within established departmental service level agreements
- Consistently provides a high level of service to all customers and resolves customer issues timely and efficiently
- Performs system or user acceptance testing as required
- Provides supporting documentation to leadership for formal internal and external audits
- Recommends process improvements
- All other duties as assigned by management
Required Knowledge, Skills, Abilities and / or Related Experience
Ability to Travel : None
The expected hiring range for this position is $23.43 - $29.29 hourly for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate's starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future.
Work location may be flexible if approved by the Company.
What We Offer
At Reliance Matrix, we believe that creating a more diverse, equitable and inclusive culture allows us to realize more of our potential. And we can't do this without our most important asset-you.
That is why we offer a competitive pay package and a range of benefits to help team members thrive in their financial, physical, and mental wellbeing.
Our Benefits :
EEO Statement
Reliance Matrix is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.
LI-Hybrid #LI-LN1
Salary : $23 - $29
