Corporate Claims Officer at Coronation Insurance Plc

Key Duties and Responsibilities

• Assess potential high-value fraudulent claims by evaluating documents and information collected against common indicators of frauds
• Negotiate with corporate customers on settlement amounts, terms and recovery actions in accordance with organisation policies and procedures and applicable laws and regulations
• Communicate all claims decisions in a timely and appropriate manner and ensure that communication during the assessment process is regular, timely, and clearly documented.
• Determine if technical and/or high-value claims should be accepted based on results of claims analysis and reports from service providers
• Determine settlement amounts for technical and/or high-value insurance claims based on investigation outcomes
• Interpret policy wordings and conditions to determine the validity of claims and advises the claimant accordingly
• Negotiate with corporate customers on settlement amounts, terms and recovery actions in accordance with organisation policies and procedures and applicable laws and regulations
• Ensure claim matters are handled according to customer service standards and defined customer experience policies
• Review Key Performance Indicators (KPIs) relevant to each stage of the insurance claims process and propose recommendations to increase efficiency
• Identify claim trends to propose product design enhancements
• Determine appropriate modifications to business processes to ensure seamless transition and minimise resistance for claims handling
• Ensure accuracy of records and adherence to internal controls
• Maintain compliance frameworks, policies, and procedures to reflect changing regulatory requirements and organisational compliance strategies

Key Requirements
Education and Work Experience:

• Bachelor's Degree in Finance, Insurance or any related discipline
• Minimum of 5 to 7 years’ experience in the Insurance industry.
• Possession of a Professional certification is an added advantage

Skills and Competencies:

• Understands the scope of cover, including policy extensions, limitations, and exclusions for the class of business being underwritten
• Sound Knowledge of the Insurance industry
• Ability to apply internal compliance procedures to ensure own work is in compliance with standards
• Strong attention to details
• Excellent written and verbal communication skills
• Excellent customer service skills
• Knowledge of Microsoft Office and Core Insurance software.