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AIICO Insurance Plc
Banking + 2 more
Description
Requirements
- LLB, BL.
- CIIN will be an added advantage.
- Minimum of 5 years experience as a recovery officer.
- Adequate knowledge of Insurance.
Responsibilities
- To efficiently pursue and finalise recoveries from liable third parties or insurers due to the company through subrogation and other recovery avenues.
- Conduct thorough review of claims files, liability assessments, and documentation to establish potential recovery.
- Manage subrogation and other claims related recoveries in line with policy terms and applicable laws.
- Liaise with legal teams, external lawyers, or third parties to negotiate settlements and pursue legal recoveries when required.
- Work closely with claims handlers, underwriters, reinsurers, brokers, and external recovery agents to ensure seamless recovery processes.
- Maintain accurate recovery records in claims systems and generate regular performance reports.
- Negotiate settlements effectively with third parties or their representatives to achieve fair recovery outcomes.
- Prepare demand letters and other correspondence for recovery pursuit.
- Ensure all recovery cases are pursued timely to prevent prescription or statute-barred cases.
- Recommend claims for recovery write-off where recovery is not viable, with justifiable documentation.
- Maintain accurate and up-to-date recovery registers and databases.
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