To provide timely, accurate and meaningful recording and reporting of statistical claims information, analysis and recommendations to enhance decision making, risk control and optimize risk management throughout the NAGICO Group.
KEY DUTIES AND RESPONSIBILITIES
- Monitor and alert management on loss ratios in all classes of business;
- Collect claims statistical data, conduct in depth analysis of loss data and prepare reports identifying trends;
- Conduct claims audits to validate loss data analysis, surface trends and make recommendations to claims process and procedures in coordination with the Group’s Overseas Claims Manager;
- Make meaningful and relevant underwriting recommendations based on trends identified;
- Perform and maintain accurate claims loss triangulations on a regular and timely basis in coordination with the Finance Dept.;
- Ensure that the supporting documentation for triangulations are efficiently stored, backed up and are provided to external consultants (e.g. actuaries) in an efficient and timely manner;
- Regularly monitor claims loss triangulations and other applicable indicators for the purposes of assisting with the assessment of the adequacy of the IBNR provisioning;
- Record, monitor and report on claims that may trigger reinsurance recovery;
- Follow up with the Finance function and report on actual recoveries from reinsurers;
- Ensure that amounts recoverable from subrogation are being tracked accurately and monitor actual recovery of same in collaboration with Finance Dept.;
- Ensure that the Group’s claims reserves are set, monitored and appropriately adjusted. Provide reports on reserves and movements therein;
- Report on claim status information in relation to agents / brokers /customers;
- Oversee the use of the Business Intelligence (BI) tools used throughout the Group’s Claims function to ensure adequate standardization and accuracy;
- In collaboration with the IT Dept., extract data from databases and data warehouses for reporting and to facilitate sharing between multiple data systems;
- Provide analysis of claims data for inclusion in the Board of Directors reports, or other reports for use by the Executives and or Management of the business;
- Stay updated with technical developments in Insurance Claims and Analyses;
- Provide adequate support to and backup for the Group’s Chief Claims Officer and Overseas Claims Manager thereby ensuring continuity;
- Solve medium to complex BI problems;
- Execute job responsibilities with the understanding of how output would affect and impact other areas related to own job area/team with occasional guidance;
- Analyze moderately complex problems using technical experience and judgement
- Provide informal guidance and support to team members;
- Assist as directed by the Group’s Chief Claims Officer, in other relevant activities within the Group’s Claims function.
KNOWLEDGE & EXPERIENCE
- Bachelor’s Degree, with preference toward studies in Risk Management, Insurance, Business or Analytics, Chartered Insurance Designation;
- Alternatively, a tertiary level accountancy qualification (e.g. BSc Accountancy, ACCA, CPA etc.) will be accepted if sufficient relevant industry experience can be shown;
- 5 years’ experience in similar or complementary role;
- Experience in data, data mining and data management;
- Must have excellent verbal and written communication skills;
- Must be accurate;
- Analytical and statistical skills;
- Problem solving skills;
- Must have excellent organizational skills;
- Proficiency in Microsoft Office (Word, Excel & PowerPoint);
- Must maintain a high degree of confidentiality;
- Must be a self-starter and work with limited supervision.
Compensation and Benefits:
The selected candidate will be offered an attractive salary which will be commensurate with experience and education.
Applications close on April 19th, 2021.