Commercial Motor Claims Associate at Britam

Job Purpose:                                

Ensuring that claims are accurately assessed, processed, and paid in accordance with company regulations and standards, through the provision of guidelines and direction to the staff in the claims section

Key responsibilities

1. Ensure prompt registration and acknowledgment of new claims upon receipt of notification.
2. Evaluate and settle claims, to effect fair and prompt disposal of cases and to contribute to a reduced loss ratio
3. Confer with legal counsel on claims requiring litigation and defense in courts
4. Verify and analyze data used in settling claims to ensure that claims are valid and that settlements are made according to company practices and procedures
5. Maintain claim files such as records of settled claims and an inventory of claims requiring detailed analysis such as ex-gratia & declines
6. Processing of claims within the set service levels agreements for excellent customer service
7. Preparation of weekly & monthly claims reports to the team leader upon request.
8. Portfolio analysis and risk recommendation to the underwriting department upon analysis of trends in motor claims.
9. Recommendation for approval of payment and discharge vouchers within limits.
10. Oversee the preparation of claims statistical reports within the stipulated time.
11. Delegated Authority:  As per the approved Delegated Authority Matrix
12. Initiate and pursue recovery of claims from insurers of negligent partners by ensuring demand letters are send out, filed and TP register is updated
13. Retrieve, document, and pursue facultative claims 
14. Prompt settlement of garage invoices to save on early payment discount
15. Negotiate fees with other service providers to save on costs
16. Maintain adequate initial reserves as per reserve guidelines and participate in the monthly, quarterly and annual reserves reviews
17. Shoulder TLs & other managers in client’s meetings
18. Ensure prompt disposal of motor salvages to stop storage charges accruing – Rotational basis
19. Perform any other duties as may be assigned from time to time

Key Performance Measures

1. As described in your Personal Scorecard

Knowledge, experience and qualifications required

1. Bachelors of degree Actuarial or Applied Statistics
2. Progress in professional qualification in Insurance (ACII, FLMI or AIIK)
3. 2-3 years’ experience in insurance claims processing
4. Data analytics experience added advantage
5. Knowledge and experience in the insurance sector

Technical/ Functional competencies

1. Knowledge of insurance regulatory requirements
2. Knowledge of insurance products
3. Sales and marketing management skills
4. Good data analytical skills