Africa Re announces the vacancy for the position of a Principal Claims Officer

Africa Re announces the vacancy for the position of a Principal Claims Officer (West Africa Regional Office)

Job: Principal Claims Officer (West Africa Regional Office)

Job Location: Lagos, Nigeria

Duties/Job details:

The main duties of the Principal Claims Officer shall comprise, amongst others, the following:

• Review, processing and settlement of claims per under Group Claims Underwriting Manual.
• Preparation of claims memos for supervisor approval and follow up with Finance team to ensure timely settlement per internal turnaround times.
• Review and acknowledge claims notification received from cedants and brokers.
• Maintain proper records of all claims notification and follow up to logical conclusion.
• Keep an audit trail of all reported claims.
• Respond promptly and accurately to cedants and brokers queries.
• Prompt processing of reported reinsurance claims recoveries and ensure reinsurance shares are correctly calculated.
• Prepare claims files for management review and approvals.
• Provide and deliver quality services to cedants and brokers.
• Promptly process and monitor the development of the outstanding claims provision.
• Generate and prepare progress claims reports (monthly/quarterly/annual) and any other management claim reports from the business objects reporting module of SICs system.
• Prompt request of claims supporting documents from cedants and brokers such as policy wordings, adjuster’s reports, cession bordereaux, debit notes etc.
• Review and timely processing of Cash Calls, as well as manage the follow up and reconciliation of cash call credit refunds.
• Review, recommendation and processing of loss reserves.
• Review and flagging off of contentious claims issues to supervisor such as wrong cessions to treaty/facultative contracts, liability attachment etc.
• Maintenance of notified claims lists report and follow up with clients for reserves updates and documentation.
• Review, monitoring and processing of reinstatement premiums as well as maintenance of reports.
• Monitoring and validation of adjustment premiums for prior years and following up to ensure they have been processed timeously.
• Assistance on reconciliation of accounts on claims with outstanding premiums.
• Follow up on salvages with clients.
• Ability to train subordinates on claims processes.
• Attend to any other duties as may be assigned by Supervisors and the Regional Management from time to time.

Main competenceies required for this position:

• Strong technical knowledge and experience in all the classes of insurance business (underwriting and claims).
• Good knowledge and exposure to insurance and reinsurance markets.
• Proven experience in handling reinsurance claims recoveries.
• Practical knowledge of all types of reinsurance treaty and facultative arrangements.
• Very good knowledge of proportional and non-proportional treaty contract wordings and how the relevant clauses affect the handling reinsurance claim recoveries.
• Stakeholder management particularly with key re/insurance claims professional service providers such as loss adjusters.
• In-depth knowledge of appropriate insurance and reinsurance principles practices and laws as applicable to different lines of business.
• Strong analytical skills.
• Excellent oral and written communication.
• Capacity for analyzing, synthesizing and reasoning.
• Negotiation and Presentation skills.
• Problem-solving abilities with strong decision-making capability.
• Keen attention to detail with an ability to retain strategic direction.
• Ability to work with tight deadlines and handle volumes efficiently.
• Ability to work without close supervision and within established timeframes.
• Good use of MS Office applications (Word, Excel, PowerPoint, and Outlook) and knowledge of integrated business-related software will be an added advantage.
• Practical knowledge of SICs reinsurance management system will be an added advantage.

Qualifications and professional experience:

• University Degree in any discipline related to the role, plus a minimum of 7 years’ practical work experience - particularly in claims management.
• Relevant work experience in a claims department of a reinsurance company or reinsurance and/or claims department of an insurance company is a must.
• Relevant Professional qualifications will also be an advantage
• Ability to work in a multicultural environment
• Able to communicate effectively (written and oral) in English Language
• Working knowledge of French will be an added advantage.

Procedure for application:

Interested candidates for this positions are requested to visit the Africa Re website (africa-re.com/career) to complete the employment form and upload their curriculum vitae.

The Company reserves the right to appoint at the advertised level or at any other level that may suit the profile, qualifications and experience of the successful candidate.

Closing date for submission of applications: 31 January 2023