Assistant Manager Reinsurance & Claims Recovery at NIC Holdings Ltd

Job Title: Assistant Manager Reinsurance and Claims Recovery
Reports to : Head Non – Life
Purpose: Act as a bridge between primary insurance agencies and reinsurance companies through analyzing of insurance accounts, reviewing insurance plans, and managing accounts for the reinsurance firms.

Key Result Areas
• Perform on reinsurance monthly, quarterly and yearly closing process.
• Ensure general ledger shows all accounting transactions for given period and reconciliations are conducted.
• Evaluate and process utmost complicated domestic as well as international reinsurance unspecified treaty accounts.
• Review profit commissions accounts and adjust retrospective premium.
• Perform calculation of unjustified premium and audit related treaty provisions following treaty terms.
• Collaborate with accounts statements rendered by cedant.
• Recommend to management on implicit and ceded reinsurance account along with policies and processing claims.
• Ensure to correctly maintain all account complying with agreements terms.
• Conduct balances recovery on complicated reinsurance accounts through working with reinsurers.
• Identify key changes in losses incurred and leftover balance loss reserves.
• Prepare reinsurance analysis reports for management review.
• Develop financial illustrations for various pooling and captive arrangements.
• Analyze reinsurance and claim coverage issues in the relevant reinsurance contracts and/or insurance policies and provide analysis and coverage opinion.
• Drive active pursuit of reinsurance recoveries on delinquent or aging reinsurance recoverable.
• Communicate well with reinsurers, in person, in writing, or by phone, to continue to develop business relationship and report out on claims.
• Assist reinsurance underwriters with placements and renewals as requested.
• Ensure that appropriate documentation, implementation and communication of established policy, procedures and operating standards is completed for area of responsibility.
• Regularly monitors and evaluates activities to identify potential risks and issues of non- compliance.
• Investigate and identify third parties, determines liability, and uses all available resources to maximize the recovery.
• Post Action Plan outlining the course of action to bring the subrogation claim to resolution with target dates.

Qualifications:
• Bachelor’s Degree, insurance qualifications or equivalent experience.
• Seven (10)years’ experience in Reinsurance Underwriting and Recovery.
• Strong verbal and written communication skills.
• Team player as well as capable of individual performance.
• Technical knowledge of multiple claims lines.
• Excellent organizational and time management skills.
• High level of integrity, takes accountability of work and good attitude over teamwork.

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