In-Charge - Re-Insurance & Claims Department

Job Description

Title: In-Charge - Re-Insurance & Claims Department

Company Name: Global Insurance Limited

Vacancy: 1

Age: at least 40 years

Location: Anywhere in Bangladesh

Published: 16 Jan 2025

Education:
∎ Masters
∎ Minimum Masters from any reputed Public University. (Candidates having Insurance related degree or BIA Diploma is preferred).
∎ Minimum Masters from any reputed Public University. (Candidates having Insurance related degree or BIA Diploma is preferred).

Requirements:

Additional Requirements:
∎ Age at least 40 years
∎ The applicants should have minimum 10 (ten) years or more experience in Re-insurance & Claims in reputed General Insurance Companies. (Experience as In-charge in General Insurance Company is preferred)
∎ Should be honest, trustworthy and hard working
∎ Excellent interpersonal skills, influencing ability & an approachable working style to the needs of the organization.
∎ Strong communication skills in Bangla and English
∎ Willingness to visit claim affected areas as and when required.
∎ Must have good knowledge in ERP system
∎ Should be capable to work as individual or in team.
∎ The applicants should have minimum 10 (ten) years or more experience in Re-insurance & Claims in reputed General Insurance Companies. (Experience as In-charge in General Insurance Company is preferred)
∎ Should be honest, trustworthy and hard working
∎ Excellent interpersonal skills, influencing ability & an approachable working style to the needs of the organization.
∎ Strong communication skills in Bangla and English
∎ Willingness to visit claim affected areas as and when required.
∎ Must have good knowledge in ERP system
∎ Should be capable to work as individual or in team.

Responsibilities & Context:
∎ To look after company's Re-insurance & Claims related activities as an In-charge/ Head of the department of the company.
∎ Strong decision making & analytical capabilities & higher level of Management skill along with preparing and delivery of report as per requirement of the Board of Directors'/Management.
∎ Ensure timely negotiations of both treaty and facultative reinsurance with local & overseas reinsurer.
∎ Verifies details of claims of the company and submits them to the reinsurers to ensure that they meet their obligations promptly.
∎ Negotiates and updates changes or amendments to treaty and facultative agreements approved by company management.
∎ Reviews and verifies various reinsurance accounts and coordinates with the Finance Department to ensure the remittance of reinsurance premiums in compliance with contract requirements.
∎ To collaborate with the reinsurer with the aim of obtaining technical support in underwriting and claims management.
∎ To support various functions including portfolio management, risk assessment, reinsurance negotiation for new and renewal businesses.
∎ To develop and maintain policies and procedures, with alignment to the reinsurance treaty and the reinsurance administration function;
∎ To ensure the compliance with regulatory requirements related to reinsurance administration;
∎ Lead and oversee claims management processes, ensuring timely and fair settlement.
∎ Build and maintain strong relationships with local and international re-insurers and brokers.
∎ Train and mentor team members to foster a culture of excellence.
∎ Preparation of all papers for Claim Committee Meeting/ Board Meeting.
∎ Making sure that claims are dealt with according to relevant insurance laws/other laws.
∎ Strong Knowledge on re-insurance recovery from local & overseas reinsurer
∎ Capable to handle all classes (Fire, Marine, Motor & Misc.) of Claims.
∎ A leading publicly listed non-life insurance company in Bangladesh is seeking a dynamic and experienced professional to take charge for the above position.
∎ Responsibilities:
∎ To look after company's Re-insurance & Claims related activities as an In-charge/ Head of the department of the company.
∎ Strong decision making & analytical capabilities & higher level of Management skill along with preparing and delivery of report as per requirement of the Board of Directors'/Management.
∎ Ensure timely negotiations of both treaty and facultative reinsurance with local & overseas reinsurer.
∎ Verifies details of claims of the company and submits them to the reinsurers to ensure that they meet their obligations promptly.
∎ Negotiates and updates changes or amendments to treaty and facultative agreements approved by company management.
∎ Reviews and verifies various reinsurance accounts and coordinates with the Finance Department to ensure the remittance of reinsurance premiums in compliance with contract requirements.
∎ To collaborate with the reinsurer with the aim of obtaining technical support in underwriting and claims management.
∎ To support various functions including portfolio management, risk assessment, reinsurance negotiation for new and renewal businesses.
∎ To develop and maintain policies and procedures, with alignment to the reinsurance treaty and the reinsurance administration function;
∎ To ensure the compliance with regulatory requirements related to reinsurance administration;
∎ Lead and oversee claims management processes, ensuring timely and fair settlement.
∎ Build and maintain strong relationships with local and international re-insurers and brokers.
∎ Train and mentor team members to foster a culture of excellence.
∎ Preparation of all papers for Claim Committee Meeting/ Board Meeting.
∎ Making sure that claims are dealt with according to relevant insurance laws/other laws.
∎ Strong Knowledge on re-insurance recovery from local & overseas reinsurer
∎ Capable to handle all classes (Fire, Marine, Motor & Misc.) of Claims.

Compensation & Other Benefits:
∎ Attractive salary & allowances will be commensurate with experience & qualifications.
∎ Contributory Provident Fund, Festival & Incentive bonuses, Group & Health Insurance.
∎ Attractive salary & allowances will be commensurate with experience & qualifications.
∎ Contributory Provident Fund, Festival & Incentive bonuses, Group & Health Insurance.

Employment Status: Full Time

Job Location: Anywhere in Bangladesh

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