Insurance Analyst

Company Overview for Formosa Plastics Corporation, U.S.A.

Founded in 1978, Formosa Plastics Corporation, U.S.A. (Formosa Plastics) is a growing, vertically-integrated supplier of plastic resins and petrochemicals. With annual revenues of more than $5 billion, we employ over 2,800 people who operate 20 production units in six business divisions - Olefins, Polyolefins, Vinyl, Specialty Polyvinyl Chloride, Chlor-Alkali, and Oil & Gas.

Formosa Plastics offers a full line of polyvinyl chloride, polyethylene and polypropylene resins, caustic soda and other petrochemicals that deliver the consistency, performance and quality that customers demand. We market our polypropylene and polyethylene resins under the Formolene® tradename; we market our suspension PVC and specialty (dispersion) PVC resins under the Formolon® tradename. We also produce and sell caustic soda, ethylene dichloride, commercial bleach and hydrochloric acid.

We are committed to supplying the highest quality products and services to our customers, providing a safe and healthy workplace for our employees and contributing to the quality of life in the communities where we operate. This commitment is made possible through our dedicated people, consistent products, continued protection of the environment and ongoing investments in new product development, quality control systems and safe, modern and energy-efficient production facilities.

Formosa Plastics is a privately held company headquartered in Livingston, New Jersey. Our core business, producing plastic resins and petrochemicals, takes place at three wholly-owned chemical manufacturing subsidiaries located in Delaware City, Delaware, Baton Rouge, Louisiana and Point Comfort, Texas.

INSURANCE ANALYST
POSITION OBJECTIVE

• To assist management in supporting the Formosa/Nan Ya/Inteplast Insurance Programs and its related activities as assigned in order to achieve the best available terms and coverage to protect the interests of the companies.
• Manage and process all insurance related claims.
• To support the corporate insurance operations, conduct analysis and evaluation of any insurance projects and coordinate annual audits for various programs as they come up.

MAJOR AREAS OF ACCOUNTABILITY

• Insurance Purchase. Gather and prepare underwriting data for renewal submission for respective insurance programs (General Liability, Umbrella/Excess Liability, Workers' Compensation, Auto Liability, All Risk Property and others as they come up) to allow for measured exposure to potential financial risk. Coordinate with internal and external parties to collect and prepare data needed for annual policy renewal and program audits.
• Corporate Insurance Operation. Communicate and interact amongst business units, brokers and third parties. Apply knowledge of various insurance programs to assist business units to verify our compliance of insurance coverage. Evaluate safety factors and manage all insurance related issues. Coordinate and attend loss control and engineering visits as needed.
• Claims Management. Report and manage claims for various insurance programs as needed. Coordinate with Legal Department, TPA and other third parties to monitor claim status and perform telephonic claim reviews for all companies on a semi-annual basis. Coordinate with all parties to schedule individual claim reviews on large loss claims as needed.
• Reporting and Payment Processing. Accurately review and complete all routine tasks as they come up including certificates of insurance, auto id cards, payment processing (premium, fees, and claims) and preparing various monthly reports.
• Backup and support Insurance Department. Support Insurance Department on various activities and assignments as needed or special projects as assigned.

QUALIFICATIONS

• Four year college degree with Insurance, Finance/Accounting or Business background.
• Minimum 1 ~ 2 years of insurance or finance related experience which demonstrate strong analytical and documentation skills.
• Excellent oral and written communication skills. Good working knowledge of Microsoft Office.
• Experience or courses on insurance related topics would be helpful, specifically workers' compensation and/or claims.

OTHER REQUIREMENTS

• Must have regular, reliable attendance as well as the ability to work outside the regular schedule as required.
• Organized, detail-oriented, and able to work independently.
• Handle multi-tasking and meet deadlines.
• Work well under pressure and problem solving with little supervision.
• Able to communicate effectively with all internal and outside parties, and be thoughtful of others needs.
• Limited travel is required.

Check Out Our Benefits
Health Coverage and Perks

Excellent medical, dental, and vision insurance plans

Flexible spending accounts for health, dependent care

Short-term Disability

Long-term Disability

Group Term Life, Dependent and
Supplemental Life Insurance

Tuition Reimbursement
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Work/Life Balance

10 Paid Holidays

Paid Time Off for a balanced life
(Vacation, Sick and Personal Time)

FlexTime Available

Competitive Compensation

Competitive salary, incentive/bonus, 401(k) plan with company match,
Cash Balance, Pension Plan