Job description:
· Reviewing the primary insurance company’s claim submissions to determine their validity and compliance with reinsurance agreements.
· Ensuring that the claim falls within the scope of the reinsurance contract and that the coverage limits and terms are correctly applied.
· Gathering and organizing all necessary documentation, including policies, loss reports, and supporting evidence, to support the claim assessment.
· Conducting investigations when necessary to validate the claim, which may involve communicating with policyholders, witnesses, and experts.
· Quantifying the amount of the claim by evaluating the loss or damages and calculating the reinsurance recoverable amount.
· Engaging in negotiations with the primary insurer to reach an agreement on the claim settlement, including any disputes or disagreements.
· Preparing detailed reports on the claim assessment and settlement process for internal records and regulatory compliance.
· Maintaining clear and timely communication with all relevant parties, including primary insurers, reinsurers, and legal teams.
· Ensuring compliance with industry regulations and legal requirements when handling claims.
· Providing excellent customer service to primary insurance companies and facilitating a smooth claims settlement process.
· Identifying potential trends or issues in claim submissions and working to minimize risks and fraud.
Requirements:
· Knowledge of Reinsurance and its concepts.
· Process claims advice and system entry.
· Must be proactive & self-motivated.
· Should be a good team player.
· A bachelor’s degree, An MBA, or a professional qualification is an added advantage.
· A minimum of 4 years total work experience with at least 3 years in a reinsurance role.
· Ability to work within and across teams, handle deadline-oriented work, and communicate effectively with clients.
· Math aptitude and computer aptitude to analyse data and statistics.
· A developed understanding of reinsurance practices and regulations
