Bajaj Allianz General Insurance Hiring for Cluster Manager-FFRM & Early Settlement Investigations at Kumardungi, Jharkhand, India

• Recovery Initiatives and Management
• Implement strategies to ensure faster in time recovery of all Recovery cases with minimum expenses to optimize claims cost saving/ recovery revenues.
• Preparation of Recovery reports and action plans
• Support in setting up infrastructure for collection (empanelment of Advocate and Recovery Agent)
• Field visit for the high values cases for Negotiation
• Support to track and locate the Skip customers through the necessary means to begin the recovery process.
• Report the waiver % and settlement ratio trend and plan for recovery enhancement
• Meeting with law enforcement agencies like, Police, Law, other Govt agencies in order to take the case into logical conclusion.
• Alert to superiors on Portfolio status and unwilling or unable to pay details
• Keeping and maintaining collection records with the use of relevant materials or software
• Attending educational programs for professional growth and skill development.
• Preparing timely monthly, Quarterly and Annual reports
• Analyzing the trend of recoveries as per Location, profile and giving the feedback to claims team for improving the claims experience
• Ensuring that recovery payment are timely and reconciled and write offs are managed and maintained in the data base
• Recovery – Litigation activities
• Recovery of award amount on the pay & recovery cases
• Implement strategies to bring down the Execution petition time period
• Arrange meetings with court personnel for faster recovery process

Comply with requirements when legal action is unavoidable

Mandatory Skills:

• A minimum of 5-6+ Yrs. of work experience.
• Good understanding of insurance / or financial transactions
• Exposure in financial institution with great negotiation skills
• Working knowledge of MS Office and databases
• Hands on experience in field investigation or worked in revenue assurance department for collection and asset recovery

Education/Qualification: Graduate/Post Graduate