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MIG-2061

Chief Claims Officer

Maldives · September 8, 2021

Hiring Status Unconfirmed

City
Maldives
Industry
Insurance Provider Company
Vacancies
1
Posted
September 8, 2021

Key responsibilities

Overall responsibilities
 Proactive participation on Senior Management Team which establishes and executes the
strategic direction of the company
 Work closely with the Managing Director to discuss, evaluate, and implement strategic
directions for the claims operation that supports the overall direction of the company
 Establish solid relationships with other members of the Management Team in order to
improve team performance
 Clearly communicate strategic direction to both internal and outside partners such as
Surveyors and Loss Adjusters
 Responsible for the timely and proper disposition of claims in accordance with policy
coverage. Ensure complete and sound claim settlements, recommends for legal reviews and
investigations in accordance with company policies and procedures
 Ensure continual professional development of Team members by coordinating both internal
and external training and development opportunities

Specific Duties
 Develop and implement claim best practices for proper and consistent claim performance,
compliance and achievement of business goals
 Analyze, develop and implement policies, procedures to enhance and improve claims
processing, loss adjustment, and settlement of claims
 Develop and implement clear reserving standards and ensure that those standards are
continually met
 Closely monitor claims ratio of product and portfolio; identify issues and unfavorable trends
in claims; take appropriate and/or corrective action where necessary; communicate trends to
Underwriters and Sales team.
 Identify Claims with significant exposure and take a proctive role in coordinating a strategy
for appropriate resolution
 Proactively establish relationships with Brokers, Loss Adjusters and service providers
 Monitor and assist in public relation issues in relation to Claims handling
 Attend Sales and renewal meetings as appropriate in order to communicate claims handling
philosophy
 Support Underwriters by sharing claims experience and recommendations, and reviewing
policy wordings
 Assist in setting financial targets, budget development and monitoring
 Monitor and report of legislative changes, legal trends and their impact on Claims
management
 Ensure compliance with all legal, regulatory and policy requirements internally and externally
 Explore to use of new technologies and alternative solutions for portfolio analyses as well as
support of new business initiatives related to innovative claims technologies
 Initiate and report potentially fraudulent claims
 Maintain company records on claims and provide reports to Senior Management team on a
regular basis
 Manage Surveyors, Loss Adjusters and service providers according to set guidelines
 Manage and perform regular audits of Surveyors, Loss Adjustors and service providers.
 Manage team members of Claims department by establishing clear performance metrics
 Coach, mentor and develop team members to broaden their leadership role, knowledge and
experience
 Identify required areas of trainings and skills development for staffs and service providers and
conduct such trainings where applicable
 Identify and develop team members through succession planning to takeover the assigned
functions by the end of contract period

Desired candidate profile

Minimum qualification / Experience
 ACII or equivalent qualification in Insurance with over 10 years of experience in a similar
level position in General Claims and worked in a reputable general insurance Company
 Significant experience in progressive positions demonstrating technical, operational and
managerial skills in the Claims area will be an added advantage
Desired Skills and competencies
 Extensive understanding of insurance and reinsurance coverage interpretation, loss reserving
and client relationship management
 Excellent understanding of all steps of the claims process from claims notification up to the
pay-out
 High degree of analytical and problem solving capabilities, and able to identify client needs
and develop innovative and effective solutions

 Excellent communication skills including verbal and written with strong influencing and
negotiation skills
 Proven ability to improve organizational effectiveness as well as retain, hire, train and
develop Claims team members
 High level of integrity and dependability with a strong sense of urgency
 Advanced computer skills, including proficiency in Office applications and hands-on
experience with insurance management systems will be an added advantage

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