Tracie Benson
Summary
A leader skilled in enforcing compliance, implementing controls, motivating associates, driving numbers, identifying and assessing risks to eliminate/reduce exposure. Relentless commitment to making daily progress and the transformational impact of using data and technology to find new solutions to old problems.
Overview
24
24
years of professional experience
1
1
Certification
Work History
Operations Claims Compliance Manager
GEICO
Richardson, TX
08.2019 - Current
- Develop and implement controls required to comply with insurance regulations.
- Oversee compliance activities in support of a complex business group and responding to regulatory exams.
- Monitor changes in regulatory requirements, communicate changes to senior leadership with recommendations of the appropriate control to comply.
- Oversee the timely review and training of technical bulletins and similar regulatory communications by the Claims Compliance Unit.
- Serve as a subject matter expert on current insurance law and regulations and escalate concerns to leadership.
- Work with Legal to research and provide answers to regulatory concerns.
- Manage all regulatory complaint filing investigations and associated improvement initiatives.
- Prepare responses to testing nonconformities for review by the business with respect to compliant investigations.
- Complete ad-hoc special projects.
Divisional Casualty Claims Manager
GEICO
Richardson, Texas
08.2016 - 08.2019
- Reduced severity of losses via early claim resolution, fair settlements, accurate claim evaluations, and prevention of shortages.
- Managed a department of supervisors and adjusters. Provide calibration for all associates. Manage the development of claims personnel to improve quality, and to keep the direction and control of the claims process.
- Accurately identified risks to underwrite and maintain profitability.
- Developed, initiated, and maintained procedures for the claims department. Control staffing, budgeting, performance reviews cultivate teamwork through recognition/award programs, and career development for supervisors.
- Lead the implementation and monitoring of audit processes and performance standards. Routine evaluation of the Company's claim performance, and compare the results to the market.
- Directed processes for compliance with state and company regulations. Address state & consumer complaints in Texas, Iowa, Kansas, Nebraska, and Oklahoma.
- Developed and coordinate multiple training programs designed to focus on the improvement of compliance.
- Developed and maintain strategic and annual business plans that can achieve agreed to quality and financial performance objectives.
- Created corrective action plans and resolve internal complaints.
Litigation Manager
GEICO
09.2005 - 08.2016
- Managed the resolution of litigated claims and state complaints in Texas and Wyoming. Monitor external regulations to remain in, and enforce compliance.
- Directed a claims team of supervisors and examiners. Coached claims associates in the proper handling of litigation, and providing excellent customer service.
- Improved to increase litigated claim file closure ratio by 21%, while maintaining a stable average loss payment.
- Facilitated the roll-out of the Mandatory Medicare Reporting compliance. Developed recommendations to address problems/ issues which increased claims file quality.
- Created curriculum- "Proper Handling of Independent Medical Examinations, and Examinations Under Oath ", resulting in a 13% reductions of fraudulent claims.
- Developed the regions state reference of "Notes At A Glance."
- Designed workflow for Minor Settlement Guidelines & Mandates for Texas, Nebraska, and South Dakota.
Casualty Supervisor
GEICO
05.2000 - 11.2005
- Supervised/coached adjusters handling both first & third party claims.
- Monitored productivity of customer service representatives and generated reports.
- Monitored calls to observe adjuster demeanor, technical accuracy and conformity to company polices.
- Administered performance reviews to evaluate each adjuster's progress.
Education
MBA - Business Administration
Amberton University
BBA - Business, Strategic Management
University of North Texas
Accomplishments
- Developed new protocols to adhere to statutory prompt payment of claims from 2019-present, resulting in a 58% reduction in interest payments.
- Introduced and rolled out critical process improvements and quality assurance initiatives.
- Developed a scorecard (central states) to house weekly/monthly reviews for management to address missing statutory items and to coach their associates.
- Improved overall compliance handling by 28% in central states like Texas, Colorado, and Kansas
- Excelled at regulatory management and exceptional reviews from state examiners with a favorable error rate of less than 3.5%.
- Created a claims dashboard to capture system failed statutory letters to send manually within the required timeframe.
- Reduced severity of losses via early claim resolution by 36%.
- Improved reserve adequacy by developing measures to gather pertinent information within the first 5 days of a claim.
- Oversee direction of departments claim file pending of 8000+.
Certification
Society of Claims Law Associates (SCLA) Certified Arbitrator
Timeline
Operations Claims Compliance Manager
GEICO
08.2019 - Current
Divisional Casualty Claims Manager
GEICO
08.2016 - 08.2019
Litigation Manager
GEICO
09.2005 - 08.2016
Casualty Supervisor
GEICO
05.2000 - 11.2005
MBA - Business Administration
Amberton University
BBA - Business, Strategic Management
University of North Texas
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