Recoveries Insured Consultant | Sandton
To recover damages from the insured third parties following losses suffered by the customers and negotiate the reduction of claims cost and retention of the customers.
- Settlement Negotiation: Utilising your expertise to successfully negotiate the appropriate settlement with third party insurers/representatives in accordance with the relevant law and standard operating procedures and make relevant recommendations to senior colleague(s).
- Payment Management: Effectively manage payments from third party insurers/representatives.
- Investigation and Analysis: Identify, gather relevant information, analyse and investigate the merits of the claims in accordance with standard operating procedures and regulatory laws. Determine and decide the feasibility of the on-going recovery process, after assessment of various factors, to reduce all costs related to the recovery.
- Customer Management: Manage short term insurance customer (policy holder) relationships and expectations by using relevant operating system(s). Review, verify and update the customer claims in accordance with standard operating procedures. Ensure that upon successful recovery that customer excesses are refunded timeously and in accordance with standard operating procedures.
- Document Preparation: Prepare an appropriate letter of demand to the third-party insurers/ representatives in accordance with the standard operating procedure. Produce accurate evidentiary reports for submission to third parties.
- Correspondence: Respond to routine requests using form letters or emails and to more unusual requests by editing templates to create customized responses.
- Continuous Development: Ensure up-to-date knowledge of company products, systems, and procedures. Develop and maintain an understanding of relevant external regulation, and industry best practices through ongoing education.
- Governance: Understand and manage SLA timeframes and legislative prescriptive timeframes with the third-party insurers/ representatives and act timeously to resolve problems.
- Work Scheduling and Allocation: Organize own work schedule to get the job done, coordinating with support services, and assigning short-term tasks to others if necessary.
- Negotiation: Negotiate and provide technical guidance when required on how to help the organization by obtaining consensus between two or more external parties who may have different interests.
- Verbal Communication: Uses clear and effective verbal communications skills without supervision to express ideas, requesting actions and formulating plans.
- Planning and Organizing: Plan, organize, prioritize, and oversee activities to efficiently meet business objectives.
- Writing skills: Uses clear and effective writing skills to express ideas, request actions and formulate plans.
- Numerical Skills: Uses an understanding of numerical concepts to perform mathematical operations such as report analysis.
- Computer skills: Supports business processes by understanding and effectively using standard office equipment and standard software packages. Office suite software (Basic to Intermediate).
- Action Planning: Develop appropriate plans or perform necessary actions based on recommendations and requirements.
- Policy and procedures: Monitor, interpret and understand policies and procedures, while making sure they match organizational strategies and objectives.
- Law and Regulations: Professionally interpret and apply knowledge of laws and regulations.
- Analysis: Analyze data for use in claim verification to help guide decision making.
- Presentation skills: Communicate with other people and provide technical guidance when required on speaking in a clear, concise, and compelling manner.
- A LLB degree or a Diploma in the legal field (Essential)
- 2-3 years legal recoveries experience (Essential); Experience in the short-term insurance environment (Advantageous)
- Enter claims information into database systems.
- Calculate amount of claim.
- Transmit claims for payment or further investigation.
- Contact insured or other involved persons to obtain missing information.
- Review insurance policy to determine coverage.
- Organize or work with detailed office or warehouse records, using computers to enter, access, search or retrieve data.
- Provide customer service, such as limited instructions on proceeding with claims.