Claims Recovery Officer - FAK at Absa Bank Limited

Job Summary

To initiate actions and follow up payment/refund of claims to third party insurers.

Job Description

• Receiving demand letters from the Third-party insurer where FAK clients are to blame and actioning as per the knock for agreement.
• Appointment of service providers to handle Third Party recovery matters as per policy and maintenance of a register for such appointments.
• Responding to advocates correspondence and ensuring up to date information is in each file.
• Ensure recovery of matters where Third Party are to blame for a loss and update the register.
• Triannual review of advocate status report and ensuring the files are up to date.
• Ensuring payments of service providers are raised in good time, authorized and forwarded to Finance Department.
• Preparing recovery reports & opinions.
• Approving all recovery debits as per the approval limits
• Reviewing the external advocates fees to ensure that the fee notes are raised as per remuneration order.
• Attending court hearing on behalf of the FAK as and when required.
• Ensure Status Reports from service providers are received as per the guidelines.
• Prepare monthly reports and any other report that may be requested.

Education & Professional Qualification

• Bachelor’s degree in insurance or a business related eld. 
• At least five (5) years of relevant experience in similar role.
• Relevant insurance professionals or equivalent and hold membership in recognized insurance professional bodies.