A claims and collections specialists are a team of collectors whose responsibility is to get in touch with businesses and individuals about making overdue payments for goods and services they have received. By designating collectors to collect money owed to a company, claims and collections manage the process of doing so. In order to guarantee that they are being paid, they must deal with consumer complaints and negotiate payment terms with clients. Additionally, they offer statistics, data analysis, and reports on the collecting department’s success.
Key Responsibilities:
- Monitors account to identify outstanding debts and investigates historical data for each debt or bill
- Updates account status records and collection efforts and reports on collection activity and accounts receivable status
- Understands the trends in customer accounts to identify potential risk factors such as missed payments or bankruptcies
- Interacts with customers to collect payments on delinquent accounts or offer other solutions such as installment payments