Company Info
Large organization
Coronation Insurance Plc has been in business for almost a half-century and provides a wide range of insurance coverage. Wapic, founded in 1958, has created a strong franchise in Sub-Saharan Africa's main markets and runs two subsidiaries: Coronation Life Assurance Limited and Coronation Insurance (Ghana) Limited. The Company has a long history of providing efficient and transparent insurance solutions to discerning clients, and its culture reflects the power and leadership that underpins its foundation.
200 + Employees
Coronation Insurance Plc has been in business for almost a half-century and provides a wide range of insurance coverage. Wapic, founded in 1958, has created a strong franchise in Sub-Saharan Africa’s main markets and runs two subsidiaries: Coronation Life Assurance Limited and Coronation Insurance (Ghana) Limited. The Company has a long history of providing efficient and transparent insurance solutions to discerning clients, and its culture reflects the power and leadership that underpins its foundation.
Title: Retail Claims Officer
Location: Lagos
Key Roles and Responsibilities
- Assess potential high-value fraudulent claims by evaluating documents and information collected against common indicators of frauds
- Negotiate with retail 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.
Education and Experience
- Degree in Finance, Insurance or related discipline.
- Minimum of 5 years’ experience in the insurance industry with relevant experience in the same capacity.
- Possession of a Professional certification is an added advantage.
Skills and Competencies requirements
- Demonstrates technical claims knowledge and experience
- Able to provide recommendations to improve claims operations
- Able to analyze claims records to evaluate efficiency and effectiveness of claims operations against predefined performance standards
- Able to improve efficiencies, effectiveness and compliance claims operations based on regular evaluation results
- Able to manage claims operations to ensure compliance with relevant policies and guidelines, as well as regulatory requirements
- Ability to identify, adopt, and implement innovative solutions to claims management
- Leadership and communication skills
- Exceptional problem-solving and decision-making skills
Deadline: Apr 22, 2024
How to Apply: Interested candidates should send resume and credentials to [email protected] Using Job Title as Subject