Job Summary: As the Facultative and Treaty Claims Manager, you will be responsible for overseeing the management and processing of both facultative and treaty reinsurance claims. Your role involves ensuring efficient claims handling, adherence to company policies and industry regulations, and fostering strong relationships with clients and reinsurers. This position requires a comprehensive understanding of reinsurance principles, excellent communication skills, and the ability to effectively manage a diverse portfolio of claims.
Responsibilities:
- Manage the end-to-end process of both facultative and treaty reinsurance claims, including claim intake, investigation, evaluation, and settlement.
- Review facultative and treaty reinsurance policies to understand coverage terms, conditions, and limits relevant to claims processing.
- Conduct thorough investigations to determine the validity of claims, gather necessary documentation, and assess coverage in accordance with policy terms.
- Assess claim submissions to determine liability, coverage, and appropriate reserves required. Analyse claim trends and patterns to identify areas for improvement and inform underwriting decisions.
- Negotiate settlements with claimants, brokers, and reinsurers to achieve fair and timely resolution of claims while minimizing financial impact.
- Maintain accurate claim records and documentation, ensuring compliance with regulatory requirements and company standards. Prepare and distribute claim reports as necessary.
- Communicate effectively with internal teams, clients, brokers, and reinsurers to provide updates on claim status, address inquiries, and resolve issues promptly and professionally.
- Coordinate with external service providers, such as adjusters and legal counsel, to support claim investigations and settlement negotiations.
- Implement quality assurance processes to ensure claims are handled accurately, efficiently, and in accordance with company guidelines and industry best practices.
- Stay informed about regulatory developments and compliance requirements related to facultative and treaty reinsurance claims. Ensure adherence to all applicable laws, regulations, and internal policies.
Qualifications:
- Bachelor's degree in Insurance, Business Administration, Finance, or related field.
- Min 8 years of experience, including min 3 years leading a team, in claims management within the reinsurance industry, with a strong understanding of both facultative and treaty reinsurance principles and practices.
- Proficiency in claim processing systems and software, as well as Microsoft Office Suite.
- Excellent analytical skills with the ability to evaluate complex claims and make sound decisions.
- Strong negotiation and communication skills, with the ability to build and maintain relationships with diverse stakeholders.
- Detail-oriented with a focus on accuracy and quality.
- Ability to prioritize and manage multiple tasks effectively in a fast-paced environment.
Foot Note:
1) All personal data collected will solely be used for recruitment purposes.
2) By submitting your application, you therefore consent the company to retain the information provided for future opportunities for a limited period. Such data will be deleted or anonymized when it is no longer required for a business or legal purpose.
