Head of Claims - Investec Life at Investec

Description

• The Head of Claims is an integral part of Investec Life's management, ensuring efficient and effective processing of claims while implementing robust risk management and high standards of client service. The successful candidate will also be the lead claims assessor, with the role encompassing both strategic management and hands-on assessment of claims. Knowledge of the life insurance industry and technical expertise required for claims evaluation are essential. The claims function fulfils Investec Life's claims philosophy of paying all valid claims through a high-touch (exceptional client service) and high-tech (seamless digital process). 

Key responsibilities

• Oversee the assessment and processing of all claims, ensuring compliance with product and business rules while meeting the regulatory requirements.
• Conduct detailed assessments of complex claims across Life Cover, Disability, Income Protection and Severe Illness benefits (including large cases, ex-gratia claims or those involving potential dispute), making informed decisions on claims assessment.
• Ensure that claims are handled in a fair and empathetic manner, maintaining high levels of client satisfaction. 
• Maintain and further develop a comprehensive claims strategy aligned with Investec Life's objectives.
• Identify opportunities for process improvements and implement best practices in claims handling.
• Work closely with underwriting, actuarial, sales and operations to ensure a seamless claims experience.
• Liaise with external stakeholders, including reinsurers and the ombudsman, as necessary.
• Monitor and manage claims-related risks, ensuring that appropriate measures are in place to mitigate potential issues.
• Ensure compliance with all relevant regulatory and legal requirements related to claims processing across the life insurance product lines.
• Prepare and present regular reports on claims performance, trends, and areas for improvement to senior management and the various internal business forums.

Experience, skills and capability

• Bachelor's degree in business, finance, healthcare or a related field. 
• A minimum of 10 years of experience in the long-term insurance industry, demonstrating a proven track record in claims management.
• Management experience is advantageous. 
• Strong interpersonal and communication skills, with the ability to build relationships with internal and external stakeholders. 
• Willingness to deliver an exceptional client experience.