The Senior Claims Specialist (Third Party) plays a pivotal role in managing all motor claim related to third party claims. The incumbent will manage the entire process of third party claims within the motor claims function, including adjudicating claims related to third-party damages.
Objectives & Key Performance Indicators
- Collaborate with Product, Underwriting and other internal stakeholders to ensure alignment of coverage, policy intent and wordings.
- Attain annual claims savings set by HoD annually for the team on pending claims volume and nature of claims.
- Effective claims management skills, including compliance to protocols/operating procedures, reserving and managing panel of service providers.
- Maintain good Turn-Around-Time and claims service level standards to ensure customer claims experience are met.
Key Responsibilities
- Technical expert: Act as a subject matter expert, providing guidance and technical expertise on complex claim cases.
- Claims management: Conduct thorough investigations, assessing liabilities and collaborating with legal professionals where necessary. Effective claim management skills to ensure healthy loss ratio.
- Documentation and reporting: Conduct regular reviews and analysis of claim trends and performance metrics, identifying areas for improvements and implementing corrective actions.
- Negotiation and settlement: Serve as a point of contact for escalated claim issues, working to resolve disputes and negotiate settlements effectively.
- Communication and coordination: Collaborate with external stakeholders including customers, distributors, legal professionals, repair workshops and assessors to facilitate smooth and fair claim settlements. Collaborate with internal stakeholders including product, underwriting and distribution stakeholders to ensure alignment of coverage, policy intent and wordings.
- Continuous improvement: Stay updated with industry trends, legal changes, and best practices to enhance claim handling procedures and contribute to the continuous improvement of claims management protocols by staying updated with industry trends, legal changes, and best practices.
- Customer experience: Maintain good Turn-Around-Time and claims service level standards to ensure that customers’ claims experience are met.
Qualifications and skills
- Recognized degree or diploma;
- Minimum 10 years of experience in Motor claims handling with a focus on third party claims within the Singapore insurance market.
- Good knowledge of MS Office software and any other technology applications
- Strong knowledge of motor insurance policies, regulations, and industry practices in Singapore.
- Excellent analytical, negotiation, and communication skills.
- Meticulous, analytical, problem solving and organized;
- Open-minded, proactive, receptive to new ideas and cope well with changes and pressure
