Overview
Under limited supervision and working remotely, this position performs audits (in-person and virtually) on Property/Casualty Commercial Line policies in accordance with company, industry, and government rules and regulations. The goal is to ensure accurate earned premiums, appropriate classifications, and exposures. Audits may range from small accounts to larger, more complex audits. All job duties must comply with applicable legal and regulatory requirements.
Responsibilities
- Manage, schedule, and conduct physical/virtual audits for selected Commercial Lines policies based on auditable exposures.
- Review the insured’s business operations.
- Examine and record data from financial/business records.
- Evaluate subcontractor operations and document exposures according to manual rules.
- Verify claims data.
- Determine and/or develop premium basis and classification.
- Perform all activities in accordance with company, industry, and government rules and regulations.
- Manage and schedule territory and inventory to optimize efficiencies, auditor expectations, and meet internal and external customer needs.
- Perform automobile travel within the assigned territory.
- Car travel represents approximately 70–80% of the employee’s time.
- After audit completion, notify the underwriting team of changes in exposures, business operations, products/services, additional or deleted classifications, locations, entities, new construction, etc.
- Respond to and resolve audit disputes and revise audits as needed.
- Compile pertinent facts related to disputes and documents.
- Communicate results of analysis.
- Prepare amended audits and submit for billing.
- Resolve test audit disputes for non-National Council on Compensation Insurance (NCCI) states.
- Maintain positive customer relationships and develop relationships with internal and external customers to provide ongoing technical expertise.
- Use automated premium audit work management systems, commercial lines automated systems, and other tools to complete assignments in line with established goals.
- Develop, apply, and maintain working knowledge of company premium audit technical policies and procedures, demonstrating an understanding of the property/casualty insurance business.
- Assist or may lead Premium Audit projects.
- Prepare and present basic-level technical presentations.
- Participate in premium audit training programs for internal and external customers on a variety of Premium Audit topics and issues.
- Serve as a resource, trainer, and mentor for Premium Auditors at the direction of the Premium Audit Supervisors.
Qualifications
Knowledge and Requirements
- Stay current with insurance manuals, premium audit manuals, handbooks, guides, and related materials.
- Ability to effectively communicate and work independently without direct supervision.
- Proficiency using computer tools, including Microsoft Excel and internet research applications.
- Able to climb stairs and consistently carry 20 pounds.
- Travel requirement: must be able to travel to insureds’ offices on a daily basis within the assigned territory, or outside of the assigned territory depending on inventory levels, which may require overnight travel.
- Must have a valid state-issued driver’s license in good standing.
Education and Experience
- College degree in Insurance, Accounting, Finance, or related field is preferred.
- 3+ years’ experience as a physical Premium Auditor.
- Successful completion of Associate in Premium Auditing 91 (APA 91) and Associate in Premium Auditing 92 (APA 92) is desired.
Compensation & Benefits
- Pay range: USD $83,000.00 - USD $108,000.00 /Yr.
- Total rewards package includes:
- Competitive base salary
- Incentive plan eligibility at all levels
- Comprehensive health care plans
- Retirement savings plan with company match
- Discounted Employee Stock Purchase Program
- Tuition assistance and reimbursement programs
- 20 days of paid time off
The actual base salary is based on geographic location. Additional considerations include relevant education, qualifications, experience, skills, performance, and business needs.
Additional Information
- Equal Employment Opportunity employer.
- For Massachusetts Applicants: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.