Senior Claims Officer at African Reinsurance Corporation (Africa Re)

RESPONSIBILITIES

The successful candidate will report to the Head of Claims and support the claims function of the Regional Office, ensuring alignment with the group's overall policy and guidelines, as well as maintaining the service level standards for claims services.

DUTIES / JOB DETAILS

The duties of the Senior Claims Officer will comprise amongst others:

• Review, process and settle claims in accordance with the Group Claims Management Procedure Manual
• Acknowledge and review claim notifications received from cedants and brokers
• Maintain an audit trail of all reported claims ensuring proper records are kept. Follow up with clients for reserve updates and necessary documentation and follow up claims to a logical conclusion.
• Promptly request supporting documents from cedants and brokers such as policy wordings, adjuster’s reports, cession bordereaux, debit notes, etc.
• Respond promptly and accurately to queries from cedants and brokers.
• Review and flag contentious claims issues to your Supervisor such as incorrect cessions to treaty / facultative contracts or issues with liability attachment, etc.
• Promptly process reported reinsurance claim recoveries and ensure accurate calculation of reinsurance shares.
• Review and process cash calls in a timely manner, manage follow up and reconcile cash call credit refunds.
• Prepare claims files for Management review and approval.
• Coordinate with the Finance team to ensure timely settlement of claims in line with internal turnaround times.
• Assist with the reconciliation of accounts with outstanding balances.
• Deliver high quality service to cedants and brokers.
• Promptly process and monitor the development of outstanding claims provisions.
• Generate and prepare progress claims reports (monthly/quarterly/annual) and any other management claim reports as needed.
• Review, monitor and process reinstatement premiums and maintain corresponding reports.
• Monitor and validate adjustment premiums for prior years and follow up to ensure they are processed in a timely manner.
• Follow up on salvage, subrogation and retrocession recoveries.
• Address Audit and Technical Inspection queries and recommendations.
• Train subordinates on claims processes.
• Perform any other duties as assigned by Supervisors and Regional Management from time to time.

Main Competencies

MAIN COMPETENCIES REQUIRED FOR THIS POSITION

• Strong technical knowledge and experience across all classes of insurance business including underwriting and claims
• Good knowledge and exposure to both insurance and reinsurance markets.
• Proven experience in handling and managing reinsurance claims recoveries.
• Practical knowledge of various reinsurance treaty and facultative arrangements.
• In-depth knowledge of proportional and non-proportional treaty contract wordings and their impact on reinsurance claim recoveries.
• Effective stakeholder management particularly with key re/insurance claims professionals and service providers such as loss adjusters.
• Strong analytical skills.
• Excellent oral and written communication skills
• Capacity for analysis, synthesis, and reasoning.
• Proficient negotiation and presentation skills.
• Strong problem-solving abilities and decision-making capabilities.
• Keen attention to detail while maintaining a strategic perspective.
• Ability to work under tight deadlines and manage high volumes efficiently.
• Capability to work independently and meet established timeframes.
• Proficient in MS Office applications (Word, Excel, PowerPoint, Outlook), with knowledge of integrated business-related software being an added advantage
• Practical knowledge of the SICs reinsurance management system is also an added advantage.

Academic Qualifications

MINIMUM QUALIFICATIONS AND EXPERIENCE:

Applicants shall be holders of:

• University Degree in any discipline related to the role, plus a minimum of 5 years’ practical work experience - particularly in claims management
• Relevant work experience in a claims department of a reinsurance company or reinsurance and/or claims department of an insurance company is a must
• Relevant Professional qualifications will also be an advantage
• Ability to work in a multicultural environment