Regional Reinsurance Claims Specialist

2 weeks ago

Manama, Manama, Bahrain beBee Careers Full time

GIG Gulf is seeking a detail-oriented Claims professional to manage claim notifications, cash calls & reinstatement calculations, follow-ups, recoveries, and financial reporting with internal/external stakeholders.

The role involves collaborating with the Claims Department for updates and developments, preparing cash call requests, including reinstatement calculations, closing advice, and recovery trackers. The successful candidate will also work closely with the Finance Department to confirm receipt of recoveries.

Key Responsibilities:
  • Notify reinsurers of new claims and provide timely updates.
  • Prepare and send loss advice to reinsurers at various stages.
  • Maintain comprehensive records of claims, including reporting, developments, and cash call submissions.
Claims Monitoring & Recovery:
  • Liaise with the Claims Department for updates and developments.
  • Prepare cash call requests, including reinstatement calculations, closing advice, and recovery trackers.
  • Follow up with reinsurers to ensure timely recoveries.
  • Coordinate with the Finance Department to confirm receipt of recoveries.
Data Management & Analysis:
  • Prepare monthly claims movement reports for Finance and Actuarial teams.
  • Update and maintain loss triangulations for treaty renewals.
  • Conduct "as-if" analysis for treaty renewals.
Stakeholder Collaboration:
  • Work closely with Claims, Finance, and Actuarial teams to exchange and obtain necessary data.
  • Prepare and present annual claim statements to reinsurers.
  • Provide management with reports and presentations on recovery status.
Essential Requirements:
  • A minimum of 3 years of experience in Claims handling with an insurer/reinsurer or experience in any area within Reinsurance.
  • Proficiency in MS Excel (including data analysis, pivot tables, and formulas).
  • A strong understanding/experience with treaty structures and claims handling procedures.
  • The ability to interpret and analyze claims data for reporting and decision-making.
  • Excellent written and verbal communication skills to coordinate with internal and external stakeholders.

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