Duties to be Performed
- Oversee and manage the entire claims handling process, from establishing a proper initial estimation of claim reserve and settlement till finalization, and ensure quality and productivity standards are met.
- Lead the day-to-day operations of Non- Motor Claims.
- Supervise and support the Head of Motor Claims.
- Take overall responsibility in ensuring prudential and fair assessment of liability including Loss Adjustment and other claim related expense.
- Drive prudent and efficient handling of claims within the terms of the Policies issued.
- Be responsible for DBAC Claims Management as its Regulator approved, Senior Management Function (SMF).
- Ensure compliance with the Non-Motor and Motor Claims Policy & Procedures of the company.
- Be responsible for the reserving exercise of non-motor and motor claims.
- Review outstanding claims on quarterly basis.
- Implement stringent timelines for processing claims.
- Coordinating with facultative & Treaty reinsurers for claims intimation, recovery and cash calls.
- Support motor claims for negotiation, repair and replacement costs with Dealers and Authorized Garages and achieve optimality in Claims including but not limited to securing Annual Value Discounts.
- Quarterly review of all open claim files and update reserves.
- Monitor compliance with agreed turnaround time in processing of all claims till full and final settlement/declinature.
- Liaise with internal and external loss assessors on Loss Survey Reports drawn up.
- Monitor Recovery Claims.
- Monitor and guide Loss Provisioning.
- Ensure that there is no excessive variance between claim estimates made/booked and claim amounts settled.
- Ensure robust follow-up of claims recoveries from Facultative reinsurers and participants local insurers.
- Co-opt legal counsel & coordinate with such counsel on legal liability claims under motor policy and litigated claims under non-motor policies.
- Participate as member of the Claims Committee.
- Coordinate the appointment of independent loss adjusters as and when required to handle claims.
- Interacts with TPA for prudential administration of medical claims.
- Ensure compliance with all Regulatory and legal requirements.
Education & Experience Required
- University graduate with a degree in Business, Mathematics, Economics or Accounting, or any other related discipline.
- Master’s degree in Management or any other related discipline will be an added advantage.
- 10 – 13 years’ experience.
If you meet the above requirement email your updated CV in English on email@example.com (mention in the subject line the position applying for).
Please Note: Only the shortlisted candidates will be contacted.