Claims Manager at Finsbury Reinsurance Limited

Job Description

Position Overview

Managing and providing proactive claims-handling direction to team members with respect to investigation, assessment, reserving, expense, and settlement in accordance with claims best practices.

Key Responsibilities

Processing claims in an efficient and timely manner to achieve prompt conclusion and settlement.
Monitor strategy on claims to ensure optimal claim outcome and timely escalation of high exposure claims to top executives within Finsbury Re.
Providing expert input regarding day-to-day procedures in order to efficiently and effectively process claims.
Monitoring effectiveness of all programs and provide support to all open claim file reviews and manage all payment cycles to ensure compliance to all contract requirements.
Settling difficult or complex claims.
Providing claims services to all business units and ensures optimal handling of all claims.
Evaluating and adjust all business units claims.
Designing and implement various policies and procedures for claims.
Performing monthly, quarterly and annual claim process review audits.
Advise reinsurers of large losses and timely recovery of those losses over and above our retention.
Working closely with Cedants and Loss Adjusters where necessary to ensure fair and prompt claim settlement.
Overseeing all electronic claims processes and evaluate all claim applications, prepare claims reports and evaluate all actuarial input.
Ensure appropriate maintenance of all relevant documentation.
Ensuring legal compliance of the claims process.
Ensure detection processes and safeguards are in place to guard against fraudulent claims.
Ensuring correct reserves are recorded.
Maintaining claims statistics for paid and outstanding claims for treaty and facultative business.
Providing market information, statistics and reports as and when required.
Ensure team members fully utilise the core system to record all transactions.
Help the team continually achieve professional goals and improve skills to meet team member’s career objectives.
Takes personal responsibility for own workload, continually reorganizing and prioritizing tasks to ensure key company objectives are met.
Proactively, enthusiastically, thrives on taking responsibility in a fast-paced team-based environment.
Provides operational support to underwriting, finance and administration department.
Overseeing underwriting risk survey activities within the organization.
Offer technical support to the underwriting team by interpreting risk survey reports.

Qualifications, Skills and Experience

Full Grade 12
Minimum bachelor’s degree
ACII and/or CILA qualification will be added advantage
Minimum 5 years’ experience in the (Re)insurance industry
Ability to use SICS, Synergy2 or equivalent reinsurance system
Ability to make reasonable and sound decisions
Good numerical and communication skills.
Strong computer skills
Ability to do underwriting risk surveys will be added advantage

Application Instructions

Interested candidates should email their applications and supporting documentation to [email protected] by the closing date of 7 February 2025.

Fin Re is an equal opportunity employer. We encourage applications from all qualified individuals.