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  • Posted: May 11, 2021
    Deadline: May 15, 2021
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  • Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.
    Read more about this company

     

    Bancassurance Operations Analyst

    Job Summary

    The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support in the day to day activities in the Bancassurance Operations department.

    Reporting to the Head of Bancassurance Operations, the role holder will work in the bancassurance team and will be responsible for the daily tasks assigned to him/her. The key objective is to ensure all tasks assigned are efficiently and accurately executed, tracked and resolved as per Service Level Agreements (SLAs), to enable the Bank, through Absa Bank Insurance Agency Limited (ABIAL) deliver on the insurance promise and so become the preferred insurance solution provider.

    The role profile details the main activities expected for this role. However, additional tasks relating to Bancassurance operations may be assigned as and when the business need arises.

    Job Description

    Main accountabilities and approximate time split

    Company - Underwriting, Reconciliation, Claims and customer query/complaint management, MI compilation, Unutilized premium refund management, Declarations, Support in User Acceptance Testing

    50%:

    • Ensure all customer cover requests received at Bancassurance Operations are processed and forwarded to the respective insurers within agreed SLAs
    • Prepare and send out declaration reports to underwriters and other designated stakeholders within set SLAs
    • Maintain and update the existing manual data bases to ensure information held is accurate and availed in a timely manner
    • Timely collation of data and processing of unutilized premium refunds
    • Communication to stakeholders including branches and customers, on premium refunds where beneficiary details are missing/insufficient
    • Timely monthly production and premiums reconciliation for the various underwriters under ABIAL
    • Maintenance and timely circulation of the reconciliation issues logs to various stakeholders and follow up for resolution
    • Report on a weekly basis the outstanding premiums status – included into the weekly reporting
    • Identifying the policies due for various actions per the outstanding premiums tracking procedure and report these to BBIAL underwriters and insurance companies.
    • Respond to underwriters on any reconciliation related queries and/or demand notices
    • Log claims with the various insurance providers and follow up to closure, ensuring stakeholders are kept updated
    • Management of queries and complaints within SLAs
    • Support in User acceptance testing when called upon
    • Engagements with Underwriters and Bancassurance teams  to ensure seamless process flow and Excellent customer service
    • Participating in company CSR and brand building activities in liaison with other departments;

    Risk and Control Rigour: 30%

    • Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Absa Policies and Policy Standards.
    • Understand and manage risks and risk events (incidents) relevant to the role.”
    • Ensure management/snap checks are done timeously and any issues escalated
    • Risk improvement suggestions

    Customer: 20%

    • Ensure adherence to set SLAs (internal and external) while processing customer insurance cover requests and claims
    • As an enabler and in liaison with stakeholders, resolve complaints and queries within the set service standards
    • Where necessary, ensure timely escalations to minimize on customer impact on missed SLA’s

    Technical Skills/Competencies

    • Excellent underwriting skills and insurance product knowledge
    • Effective communication and negotiating skills to deal with external service providers and customers
    • Passionate drive for results
    • Service Excellence
    • Planning and Organizing
    • Good understanding of insurance processes
    • Accuracy and attention to detail
    • Problem Solving skills
    • Technological understanding (tools – Microsoft Office, etc)
    • Time Management
    • Resilience and ability to work under pressure

    Knowledge, Expertise and Experience

    Essential

    • A Business-Related Degree from a recognized university
    • Proven ability to work within and across teams effectively
    • Technological understanding (tools – Microsoft Office, etc)
    • Exposure to governance, control and risk management

    Additional requirements that would give an added advantage:

    • COP qualification/ Diploma in Insurance,
    • Knowledge of insurance business (claims management & underwriting), products and processes.
    • Operations experience in the bank/insurance industry

    Education

    Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

    go to method of application »

    Bancassurance, Claims and Underwriting Manager

    Job Summary

    The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support Bancassurance Operations in management of claims. 

    Reporting to the Head of Bancassurance Operations, the role holder will be responsible for end to end management of all claims within the Bancassurance portfolio. The key objective is to ensure that all claims are reported, tracked and resolved as per SLA to enable the Bank, through Absa Bank Insurance Agency Limited deliver on the insurance promise and so become the preferred insurance solution provider.

    Job Description

    Main Accountabilities:

    • Company- Claims Management: 50%
    • Reviewing and revising processes in the claims and legal departments for adherence to the customer charter and policies;
    • Tracking and executing all follow up actions on claims from insurance companies
    • Negotiating with Insurance companies and handling of appeals on claims settlements as necessary
    • Written correspondence with claimants with claims updates
    • Get the best scopes of cover for customers to avoid declinature of most claims
    • Manage complex claims to conclusion and agree on the risk surveyors, assessors and all claims handling experts from insurance companies on model of operations with them
    • Automate claims where possible
    • Have agreed quick ways of settling claims including cash in lieu with the insurers if clients are comfortable with the option
    • Overall responsibility for managing all claims subject to any legal or court process in consultation with the Legal Section;
    • Managing the facilitation of internal and external auditors/actuaries to ensure complete and efficient audit process and follow up implementation of audit recommendations;
    • Liaising with Underwriting to confirm client’s premium payment status
    • Ensure policies are placed as per agreed terms and conditions and customers’ summaries/ risk notes capture the same
    • Negotiate favorable terms for clients to avoid punitive policy conditions
    • Ensure pricing is right and market survey is done to avoid exploitation of customers
    • Managing stakeholder relationships as detailed in the manuals
    • Compiling weekly, monthly and annual reports for various stakeholders
    • Participating in management meetings, projects and committees as assigned
    • Have regular meetings to review statuses, claims and underwriting progress etc with insurers and all stakeholders
    • Attending to walk in and telephonic enquiries on claims
    • Entrenching performance-based appraisal of departmental staff in line with their set KPIs and departmental targets;
    • Training, coaching and mentoring staff in order to improve performance and cohesion within the department;
    • Participating in company CSR and brand building activities in liaison with other departments;
    • Risk and Control Rigour: 20%
    • Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Absa Policies and Policy Standards.
    • Understand and manage risks and risk events (incidents) relevant to the role.”
    • Risk improvement suggestions based on Claims MI
    • Ensure timely claim notification, follow up on actions with underwriter and insured, including visits with these stakeholders as necessary
    • Monitoring and ensuring adherence to set SLAs (internal and external) and prescribed claims Turn Around Times;
    • As an enabler and in liaison with stakeholders, resolve complaints and queries within the portfolio within service standards
    • Training, and dissemination of claims related information to customers and stakeholders to improve understanding and reduce complaints arising from information gaps
    • Customer: 30%
    • Ensure timely claim notification, follow up on actions with underwriter and insured, including visits with these stakeholders as necessary
    • Monitoring and ensuring adherence to set SLAs (internal and external) and prescribed claims Turn Around Times;
    • As an enabler and in liaison with stakeholders, resolve complaints and queries within the portfolio within service standards
    • Training, and dissemination of claims related information to customers and stakeholders to improve understanding and reduce complaints arising from information gaps

    Technical Skills/Competencies

    • Excellent underwriting skills and insurance product knowledge
    • Effective communication and negotiating skills to deal with external service providers and customers
    • Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
    • Passionate drive for results
    • Service Excellence
    • Planning and Organizing
    • Good understanding of insurance processes
    • Accuracy and attention to detail
    • Problem Solving skills
    • Technological understanding (tools – Microsoft Office, etc)
    • Time Management
    • Knowledge, Expertise and Experience

    Essential 

    1. A Business Related Degree from a recognized university
    2. COP qualification, Diploma in Insurance,
    3. Knowledge of insurance business (claims management & underwriting), products and processes.
    4. Exposure to governance, control and risk management
    5. Proven ability to work across teams effectively

    Education

    Higher Diplomas: Business, Commerce and Management Studies (Required)

    Method of Application

    Use the link(s) below to apply on company website.

     

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

  • Send your application

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