Required Corporate Claims Executive

Role:Claims Executive

Industry Type:Insurance

Department:BFSI,Investments & Trading

Employment Type:Full Time, Permanent

Role Category:General Insurance

Education: B. Tech/B.E. in Mechanical

Key Skills: Insurance claims

Job Responsibilities:

Financial

• Contribute to renewal portfolio expansion through relationship building with the insurance companies and surveyors to ensure optimum claim settlement in the minimum time.
• During the processing of the claim analyze the following and communicate to underwriters:
• adequacy of coverage wrt. location specifications e.g.. Earthquake /flood etc.
• adequacy of the sum insured
• anomalies in the policy
• scope of additional policies
• other related information
• Control expenses

Business Process

• Facilitate proper settlement of the claim in the shortest possible time to the satisfaction of the client by ensuring the following:
• Obtain complete information of loss from the client after initial intimation
• Submit intimation to the insurance company for Registration of claim, Allocation of surveyor.
• Follow up for deputation of surveyor
• In case of big losses, ensure Salasar representative accompanies the surveyor to understand the nature and extent of loss and give the client an indication of documents required.
• Intimate documents requirement for the client.
• Obtain LOR (List of requirements) from Surveyor
• Match LOR with Salasar's requirement already taken from the client and take the rest of the documents.
• Once documents are received, check exclusions in fine print and prepare the draft reply from the client submitted to the insurance company
• Follow up with a client for repair and reinstatement for early completion and help in documentation of estimate, contractor details, expenses, etc. so that the surveyor gets structured inputs for preparation of the survey report
• Follow up with surveyor for completion of assessment
• Communicate surveyor comments to the client in terms of estimate and exclusion and arrange a meeting between the surveyor and client to resolve differences to obtain client assessment
• Ensure surveyors report is submitted at the earliest
• Follow up with insurance company for early settlement of claim
• Obtain settlement voucher from insurance company and forward to client
• Get discharge of client (signoff) and submit to the insurance company for disbursement
• Update each step in SAIBA on real time basis and ensure due IRDA compliance
• Ensure resolution of all complex technical issues in claims and timely escalation of the same for quick disposal of the claim

Customer

• Support the marketing department in obtaining new business and ensuring the best possible coverage for clients, talk to the technical dept of the client to understand which risks need to be covered, type of production (continuous/ batch)
• Reopen claims in case of new businesses and follow up to obtain claims after reopening of the file by the insurance company if the repudiation is not time-barred.
• Participate in fortnightly meetings to give updates to the business development and client servicing teams on the status of claims in order that they are updated about the same before meeting clients for renewals
• Interface with clients to reinforce relationships with existing clients
• Prepare and submit daily/monthly reports on the status of claims.

People Growth

• Acquire product knowledge and always keep yourself updated with the latest variations in product offerings
• Attend training sessions (external/ internal) and work on on-job assignments to implement new learning
• Conduct training sessions for the marketing team as well as underwriting and claims teams to build product knowledge across functions
• Set objectives, review and evaluate performance periodically, and give feedback
• Review pending work and initiate action

Perform all such duties which are required to be performed by this position in an insurance broking house in general course and to perform all such duties and carry out all such responsibilities so delegated or asked to be performed by the Designated Authority from time to time

External Interface:

Internal interface:

• Existing clients
• Prospective clients
• Insurance companies
• Surveyors
• Employees

Preferred Competenciesof Incumbent

a)Functional Competencies

Demonstrates domain knowledge in own area of operation

Understands product offerings

Understands service standards as per Organisation ethos

Learns continuously and keeps self-updated

b ) Leadership Competencies:

Relationship Building

Networks effectively with both external and internal customers

Focuses on building long-term sustainable relationships

Delivers on commitment every time

Creative & Analytical Problem Solving

Understands the strategic objectives of the Organisation, unit, function

Collates data and analyses them objectively

Takes objective decisions based on data to achieve the strategic objective of the Organisation

Goes the extra mile to achieve creative solutions

Customer Focus

Designs solutions that meet the requirements of the customer (external/ internal)

Demonstrates a sense of urgency to resolve all external and internal customer concerns and responds to queries and requests within defined timelines and processes

Educates customers (external/ internal) about changes in processes, policies, and offerings

Creates long-term relationships with customers (external/ internal) through continuous interface

Obtains customer (external/ internal) feedback to improve processes

Promotes loyalty and converts customers to brand ambassadors

Achieves customer delight with respect to both internal and external customers

Is sensitive to code of conduct in office and customer establishments

Perseverance

Makes all possible efforts to understand the viewpoints of external and internal customers

Takes all possible steps to resolve issues

Understands the importance of deadlines, proactively removes roadblocks, and delivers as per requirement

Tries alternatives to achieve the target

Does not give up in the face of adversity

Explains own point of view assertively to get necessary support and approval

Is patient and persistent towards following up on all leads and prospects generated during the past towards new client acquisition

Achievement Orientation

Understands the strategic objectives of the Organisation, unit, function

Aligns individual and team targets with strategic goals

Plans and deploy appropriate resources to meet targets in the short and long term

Goes the extra mile to achieve targets as per committed timelines and enable the team to do so

Achieves and motivates excellence irrespective of circumstances

Shares best practices across businesses

Benchmarks with the best and continuously raises the bar

Upgrades competencies of self and team to achieve excellence.

Share your resume atsusweta@salasarservices.com