Job Description
Insurance Billing Specialist - £35-45K – Hybrid 3 days in City HQ
The Insurance Billing Specialist is responsible for managing the receivables, payables, and trust account compliance for a designated group of programs.
They must have the discipline to adhere to deadlines while providing excellent support to customers to resolve any issues they may present to you as regards the billing and finance aspects of the business.
The ideal candidate will have an analytical mind for the financial aspects of the job.
Key Responsibilities
* Apply payments received from billing vendor and reconcile any discrepancies between payments received and due.
* Generate reports to carriers and brokers that accompany monthly payments and initiate payments to these companies.
* Respond/follow up to inquiries from insureds, brokers and carriers as regards invoicing and/or payment information.
* Oversee the accuracy of nightly data feeds to the billing vendor and resolve any rejected transactions.
* Monitor receivables to minimize the instances of cancellations and follow collection procedures for overdue items.
* Understand and adhere to the carrier’s requirements for each program as regards all financial aspects of the program, such as receivable reporting, collection from insureds/brokers, payment to the carrier, commission levels and parameters for disposition of audit balances for collections.
Key Requirements/Skills/Expertise
* Have a natural inclination toward financial detail.
* Be a self-starter who enjoys completing tasks with an eye toward potential efficiencies.
* Associate degree in business related field; bachelor’s degree preferred.
* Insurance carrier, Broker or MGA employment experience expected.
* Intermediate in Excel spreadsheets and analytics.
* Experience in a customer service-related position or role with customer service responsibilities.
* Strong organisational and communication abilities.