Account Service Representative IV

Job Description

Job Description

The Account Service Representative (ASR) is responsible for managing the full lifecycle of new business processing and account servicing across multiple system platforms. This role requires proficiency in delivering exceptional customer service and ensuring seamless interactions with insureds, agents, accounts, and internal departments. The ASR will proactively manage and process premium and/or claims bordereaux files, while tracking detailed process results and identifying and resolving outstanding balances or errors. Additionally, the ASR will perform monthly and inception-to-date account reconciliations. This role ensures the efficient and accurate handling of claims and premiums, collaborating with various departments, and maintaining a high level of service excellence in a fast-paced, high-volume production environment.

Qualifications:

• Minimum of 3-5 years of experience in a similar role, preferably within the insurance, finance, or business operations sector.
• Proven experience with account management, accounts receivable, and premium and/or claims processing.
• Demonstrated ability to work in a fast-paced, high-volume environment with attention to detail.
• Proficient in Microsoft Office Suite, particularly Excel, with strong data analysis and reporting skills.
• Experience with financial software, ERP systems, or insurance platforms (such as Oracle, or similar) is preferred.
• Ability to quickly learn new systems and processes as needed.
• Exceptional verbal and written communication skills, with the ability to explain complex issues clearly and professionally to clients, agents, and internal teams.
• Strong interpersonal skills with a customer-focused attitude and a demonstrated ability to build and maintain relationships.
• Strong analytical skills, with the ability to reconcile accounts, identify discrepancies, and propose solutions.
• Ability to prioritize tasks and manage multiple responsibilities while maintaining accuracy.
• Excellent organizational skills with the ability to manage multiple priorities and meet deadlines in a production-driven environment.
• Experience with tracking and managing accounts receivable, aged balances, and client settlements.
• High level of accuracy and attention to detail, particularly when reviewing financial data, processing payments, and generating reports.
• A proven track record of providing professional, high-quality customer service, with a focus on problem-solving and relationship-building.
• Familiarity with industry best practices, particularly in relation to insurance, financial reporting, and billing processes.

Primary Job Functions:

• Review and Analyze Error Reports: Thoroughly assess error reports to identify discrepancies or issues requiring action. Ensure certificates, business records, and insured eligibility align with established underwriting guidelines, confirming completeness and accuracy.
• Adjust Coverage and Eligibility: Take corrective actions as necessary, adjusting coverage details, underwriting age, limits, premiums, terms, or health information to maintain eligibility and policy accuracy according to established criteria or directives.
• Endorsements and Coverage Denials: Process certificate endorsements or deny coverage as per master policy limits, ensuring compliance with all terms and conditions.
• Effective Communication: Engage with agents, accounts, and customers proactively to resolve issues identified by phone or written correspondence. Maintain professionalism in all communications while driving timely resolutions.
• Premium Calculation and Verification: Accurately calculate premiums and validate that correct rates are being applied to each policy, ensuring compliance with pricing structures and underwriting standards.
• Reconciliation of Business Records: Reconcile entered business with actual reports and payments received, ensuring discrepancies are flagged and resolved promptly.
• Audit Remittance Reports: Conduct thorough audits of remittance reports to verify accuracy and ensure correct payment amounts are received. Identify and rectify discrepancies as necessary.
• Report Data and Errors: Report discrepancies, data issues, or account errors to the Team Leader or Supervisor in a timely manner for further investigation and resolution.
• Monetary Tracking and Collections: Maintain an up-to-date record of all outstanding balances due from clients. Proactively follow up with accounts and agents to ensure timely collection as per company policies and procedures.
• Maintain Accuracy and Production Standards: Adhere to established accuracy and production standards for business processing, ensuring each task is completed correctly and efficiently within set timelines.
• Monitor and Respond to Group Email Folders: Actively monitor assigned group email folders, addressing requests and inquiries promptly and within the service-level agreement (SLA) timeframes.
• Process Daily Reports: Efficiently process assigned daily reports, including bank reconciliations, chargebacks, sales trackers, customer service trackers, etc., ensuring all tasks are completed within SLA parameters.
• Premium and Refund Quotes: Provide accurate premium and refund quotes to agents, accounts, and customers in a timely manner, offering clear explanations of charges and terms.
• Investigate and Address Past Due Balances: Investigate and resolve past-due balances or issues related to late/non-remittance by contacting accounts, agents, and relevant business unit leaders to ensure prompt resolution.
• Track and Complete Tasks: Complete all assigned tasks in trackers, ensuring that service-level expectations are met and all deadlines are adhered to.
• Identify Workflow Improvements: Proactively identify potential inefficiencies or bottlenecks within existing workflows and recommend process improvements to enhance operational efficiency and reduce delays.
• Client Billing and Settlements: Oversee client billing and settlement processes, ensuring accurate invoicing, payments, and issue resolution as necessary.
• Customer Service Excellence: Deliver professional, high-quality customer service to internal associates and external accounts, promptly addressing inquiries, providing information, and resolving issues to ensure satisfaction and efficiency.
• Client Reporting and SLA Compliance: Provide accurate, detailed client reporting within established contractual service-level agreements (SLAs), ensuring timely delivery and thorough analysis of all data.
• Premium Check Processing: Accurately process premium checks for deposit, ensuring compliance with financial procedures and systems, and reporting any discrepancies or issues.
• Payment Arrangement Coordination: Coordinate and validate payment arrangements, ensuring that all payments are received, tracked, and appropriately applied to client accounts as per agreed-upon terms.
• Accounts Receivable Management: Maintain a comprehensive and up-to-date list of aged accounts receivable balances, organized by client, account, or agent. Regularly monitor and follow up to ensure timely collections and resolution of outstanding balances.
• Accounts Receivable Validation: Validate the accuracy of accounts receivable balances through detailed review of records, ensuring that discrepancies are identified and resolved efficiently.
• Client Management and Reporting: Oversee and manage client-related reporting tasks, including settlements, reconciliations, data extraction, journal entries, and in-depth research of related financial items. Ensure accuracy and clarity in all reporting provided to clients and internal stakeholders.
• Client Communication on Reporting and Data: Maintain open and proactive communication with clients regarding reporting updates, process changes, data queries, and any other related concerns, providing clear and concise explanations to facilitate decision-making.

The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to the job. They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.

Skills & Competencies Required:

• Requires some knowledge of a specialized function or skill.
• Developing real trade craft and skills.
• Intermediate to advanced skills in using Excel, including the use of pivot tables, VLOOKUP, and advanced formulas for data analysis and reporting. Familiarity with other data analytics tools (e.g., Power BI, Tableau) for processing and analyzing large datasets.
• Ability to interpret and analyze trends from data, generate reports, and provide insights to improve processes.

Additional Information:

Full benefit package including medical, dental, life, vision, company paid short/long term disability, 401(k), tuition assistance and more

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