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Job Description
- Processes, evaluates and prepares settlement checks by performing the following:
- Ensures that no red flag indicators (fraud indicators) are noted in the claim being processed, otherwise conduct an investigation and report noted irregularity for appropriate action of superior.
Checks completeness and validity of proof loss documents.- Assigns the adjustment of the loss to an accredited sub-contractor; monitors the regularity of the adjusters report and report any noted deviation on the adjusters handling the assignment, and the unreasonable delay in the submission of such for appropriate action.
Evaluate compensability or deniability based on the proof of loss documents; approves settlement within the authority given, otherwise submit recommendation of settlement for approval. Should the loss be deniable, recommend denial stating the grounds for such recommendations.
- Adjusts / amends Loss Reserve and updates Geniisys system re: status of claim; ensures zeroing out loss reserve balances for closed / fully settled claim.
Appraises Insured / Producers with regard to the status / progress of their claim.- Prepares and releases Letter of Authority (LOA) and/or offer letter to the concerned party; negotiates with the concerned party the approved amount of settlement and monitors its acceptance.
Ensures reasonability of the billing statement of subcontractors, and prepares payment request for settlement of bills / cash settlement.
- Coordinates / refers the claim file with the Recovery Section if with recovery and ensures proper tagging of the recovery in the system.
Maintains an efficient and accessible file system for claims being processed, and closes claim file in the Geniisys system and boxes it accordingly
- Conducts immediate inspection of the damaged properties, when necessary or required by other Processors and prepares timely recommendation report.
- In-charge of the on-the-spot cash settlement on petty motor car claims by observing the following.
- Ensures that no red flag indicators (fraud indicators) are noted in the claim being processed, otherwise follow the usual claims processing.
Ensures regularity of the insurance policy and the completeness and validity of proof of loss documents submitted, and that the cause of loss is compensable.
- Evaluates loss based on actual damage, offers the evaluated amount, if accepted, issues settlement check provided it is within the authority given, otherwise recommends approval and ensures that the corresponding settlement check be approved and released immediately.
Ensures that all claims settled are registered in the Geniisys system and the file is complete and filed properly.
Qualifications
- Candidate must possess a Bachelor's Degree in Business Administration, Marketing or any related field;
Must know how to use modern office procedures, methods, and computer equipment and related spreadsheet, word processing, and presentation applications;
- With good verbal and written communication skills;
Background in handling Non-Life insurance is an advantage;- Must be willing to work in Ortigas Center, Pasig City;
_Hybrid work schedule
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_Online recruitment process
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- About Cocogen Insurance, INC.
- Cocogen has consistently been among the country's top ten general insurance companies, an industry with over 50 players.
Established in January 1963 as Allied Guarantee Insurance Company, Inc., the company built a solid reputation in the general insurance landscape in the country. By 1989, it has been wholly owned by United Coconut Planters Life Assurance Corporation (Cocolife), and became the non-life insurance company arm of the UCPB Financial Services Group. In 2019, the company took another step forward and rebranded itself as Cocogen Insurance, with the goal of synergizing more with Cocolife.
Cocogen offers a wide array of quality and innovative insurance solutions designed to protect everything a Filipino value, from tangible, hard-earned assets such as your home, business, and your car, to something as priceless as your loved ones and yourself.
Our five decades of distinctive leadership and commitment to the industry has earned the trust and loyalty of our clients, which range from prominent multinational companies, to business leaders in manufacturing, service, wholesale, and retail merchandising.
Currently, Cocogen has 34 fully-operated branches located in key cities and localities nationwide, all with the shared goal to be your trustworthy partner by providing simple and innovative products, and excellent services with a heart.
Job Type: Full-time
Pay: From Php14,500.00 per month
Benefits:
Company events
Life insurance- Opportunities for promotion
Promotion to permanent employee
Schedule:
Ability to commute/relocate:
* Pasig City: Reliably commute or planning to relocate before starting work (Required)
