Bancassurance, Claims And Underwriting Manager At Absa Bank Limited

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Bancassurance, Claims And Underwriting Manager At Absa Bank Limited 1 Position
Emploi Recruitment

Nairobi, Kenya

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Full-time
Banking & Financial Services
Posted 1 month ago

Job Description

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

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

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

Education

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

 

Closing Date : 10 June. 2021


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Emploi Recruitment
Emploi Recruitment

Nairobi, Kenya

51 - 299 people

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