Singlife is a leading homegrown financial services company offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.
In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.
Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.
First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic.
Purpose of the Role
This role is responsible for assisting the Claims Manager in all GI commercial claim operations which includes managing and reviewing reserves, risk frameworks, customer experience, cost management and audit across different lines of GI commercial products such as WICA, Liability, Property. Emphasis is on resolving the most technically complex issues/activities within in the claims operation and providing day to day management of claims partners. The role also involves support, coaching and liaison to GI commercial operations.
The role holder is also required to participate in claim projects, systems testing and in key internal activities such as monthly claim file reviews and audit.
- For all lines of GI commercial business to assist the Claims Manager in areas including; technical processes, policies, standards, customer experience, expense framework, FNOL, settlement, subrogation, third party management and vendors
- Make the best use of finite technical resources to achieve the optimum balance between service & claims costs whilst maintaining technical excellence
- Implement and manage with our claims partner defined processes and delivery performance levels against pre-determined benchmarks for costs, recovery performance, complaint levels, compliance and leakage
- In conjunction with our claims partners to continually improve the customer claims experience to ensure Singlife provides outstanding customer service through speedy claims settlement and quality of repair
- Audit, control and performance manage third party vendors to ensure that repair methods purchased and invoiced are undertaken and customer experience standards are met
- Any other roles as assigned by the Claims Manager as required by business
Role Dimension
Financial
- Authority levels as designated by Head of GI
- All claims decision beyond claims authorisation limits to be signed off by Claims Manager and/or Head of GI or someone with delegated authority by Claims Technical Manager and/or Head of GI
Non-Financial
- One direct report
- Product or Services dimension: All GI commercial insurance products
Outcomes
- To create and implement detailed claims and operational business plans that deliver GI goals
- Design initiatives that deliver average claims cost targets and agreed service levels on speed file turn around within technical claims department
- Ensure full understanding of Fair Dealing Outcomes and one’s own accountability in delivering these outcomes as applicable to the role
- Agree complaints thresholds levels and implement
- Develop and define compliance and quality assurance frameworks to deliver MAS and GIA compliance
- Lead industry initiatives that raise the profile of Singlife, contribute to the success of GIA
- To prepare submissions to any authority when a complaint is received via that channel
- Manage all suppliers against contract
- Handle all claims referrals over authority limits or complaint cases
- Review and agree actions with Claims Technical Manager for litigation
Key Performance Indicators
- Claims file review and audit results
- Customer experience and feedback
- Adherence to risk processes and controls
- Accuracy of claims forecasting
- Results of recommended claims actions
- Partner and vendor feedback
- Projects pertaining to updated MOM regulations, set up systems and work processes for new partnerships and clients, etc.
Qualifications
- Graduate level or a recognized professional qualification
- Advanced Diploma by CII or similar qualification (or significant progress towards) preferred
- Personal General Insurance and Commercial General Insurance Certification (BCP, PGI, CGI)
Knowledge and Experience
- A strong understanding of all corporate lines claims of Commercial insurance.
- GI principles and practices
- Good knowledge of claims at all levels
- Managing claims vendors and partners within a commercial trading environment
- Minimum 5 years’ experience in Commercial Claims capacity
If you find yourself able to demonstrate the criteria above, apply with us now. We look forward to your application.
