A great career opportunity exists in Santam Reinsurance’s team in Cape Town for a Claims Manager (Inwards) .
What will make you successful in this role?
This role will be responsible for overseeing and managing the processing, validation and settlement of reinsurance claims received from ceding companies. This person will ensure that claims are handled efficiently, accurately and in compliance with company policies and regulatory requirements.
This role requires strong analytical skills, managerial experience, attention to detail and the ability to effectively communicate with internal as well as external stakeholders.
PRINCIPLE ACCOUNTABILITIES INCLUDE:
Claims processing
- Review and assess reinsurance claims received from ceding companies/brokers, ensuring accuracy and completeness of documentation.
- Investigation: conduct thorough investigations into complex or disputed claims, gathering relevant information and collaborating with internal teams and external parties as necessary.
Settlement:
- Negotiate claims settlement with ceding companies/brokers, considering policy terms, coverage limits and any applicable internal policies and/or regulation.
- Documentation: maintain accurate and up to date claims files, including all correspondence, reports and supporting documentation.
- Reporting: prepare regular reports on claims activity, including status updates, trends and financial analysis for management and other stakeholders (as the case may be).
Claims framework:
- Draft and drive claims settlement philosophy framework which will include mandates and thresholds for claims handling and settlement processes.
- Compliance: ensure compliance with reinsurance contract, internal policies, regulatory requirements and industry best practices in claims handling. Drive Group claims policy implementation.
Relationship management
- Build and maintain strong relationships with ceding companies, brokers, internal and external stakeholders. Serving as the primary point of contact for claim related enquiries and interface with internal Finance and Underwriting teams and external parties.
Process improvement:
- Identify opportunities for process improvements and efficiency gains in claims handling, implementing changes as necessary to optimize operations.
- Analyze trends relative to territory, implement and improve efficiencies including by way of dashboards and other metrics and indicators. Identify and communicate emerging market, cedant, broker and claim trends and patterns in claims frequency, severity, types of loss and potential implications for business.
- Strategy: effectively set, implement, drive and manage strategy and targets as projected for the business area.
General management and leadership:
- Lead and manage a team of claims specialists and administrators. This will include managing employee engagement, well-being, recruitment, performance management and other line management functions.
Qualifications & Experience
- Appropriate Bachelors Degree at minimum.
- Ten or more years of experience in reinsurance claims management, with focus on inwards reinsurance.
- Five or more years of experience in a managerial position or function.
Skills
- Detail orientated with focus on accuracy and quality.
- Ability to work independently and collaboratively in a fast paced environment.
- Strong organizational and time management skills, with the ability to prioritize and multitask effectively.
- Adaptability and resilience in handling changing priorities and deadlines.
- Professionalism and integrity in all interactions and decision making processes.
- Strong analytical and problem-solving skills, with the ability to evaluate complex claims and make sound decisions.
- Excellent communication and negotiation skills, both written and verbal.
- Proficiency in Microsoft Office suite and claims management software.
- Leadership and management.
- Legal wording and contract management.
- Client Focus.
- Flexible and adaptable.
- Cultivates innovation.
- Building and maintaining relationships.
- Strategic alignment.
- Reporting and administration.
- Negotiation.
- Conflict management.
- Business acumen.
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