Officer, Insurance

Job Purpose

Studying and recommending policy coverage changes, preparing and negotiating claims, conducting risk assessments, and promoting an insurance culture through training and awareness programs. Ensure comprehensive insurance coverage that aligns with ADNOC Distribution’s risk management objectives.

Job Specific Accountabilities (Part 1)

Policy Analysis and Improvement

• Study and recommend policy coverage changes, analysing insurance policies and claims to identify opportunities for improvement.
• Suggest modifications to existing policies and claims forms to ensure continuous improvement within the organisation.
• Update existing policies and company records to reflect changes requested by policyholders and insurance company representatives.
  
  

Job Specific Accountabilities (Part 2)

Claims Management

• Prepare and negotiate claims, technically adjusting them and coordinating the finalization of claims with relevant parties.
• Handle all operational claims and ensure their proper registration in order to provide a basis for future use.
• Execute the process of settlement negotiation of claims, in order to ensure adherence of the claims process and policy.
  
  

Job Specific Accountabilities (Part 3)

Risk Assessment and Mitigation

• Offer professional advice on corrective actions post-incident and follow up on their implementation to mitigate future risks.
• Conduct risk assessments for insurable risks and advise on proper insurance coverage, ensuring alignment with ADNOC Distribution’s risk management objectives.
• Assess risks in agreements and advise on proper coverage, analysing submitted policies to ensure they meet contractual commitments.
  
  

Job Specific Accountabilities (Part 4)

Budgeting

• Review asset valuation reports and prepare the annual insurance budget, managing financial transactions with insurance companies.
• Analysis the insurance policy coverage and allocate the cost of insurance across the organisation accordingly,
• Review the lodged insurance invoices into the system in order to adhere to internal requirements.
• Carry out the monthly reconciliation with the insurance accounts and with the insurance companies as vendors and insurance companies as suppliers.
• Decide and create the required entries to execute the reconciliation of the insurance accounts.
• Review and approve the POs create by Projects and Maintenance related to insurance claims based on the insurance claims relation and the policy coverage.
  
  

Job Specific Accountabilities (Part 5)

Compliance and Documentation

• Obtain and analysis the information from policy holders to verify the accuracy and completeness of information on claims forms, applications and related documents, and company records.
• Manage all insurance claims brought on behalf of the company and follow up with relevant parties (insurance, ADNOC) to ensure compliance to rules and regulations.
• Advise and support on updating the contracts in alignment with legal requirements and work closely with legal team to ensure settlements are executed safely and as per the requirements.
• Analysis the and the agreements entered by the company and recommend the required insurance cover accordingly.
• Analysis the current insurance program and recommend the changes based on the changing in the company risk profile and avoiding the overlap of the coverage to for the most cost-effective.
  
  

Minimum Qualification

• A Bachelor’s degree in Business Administration, Finance, or a related field.
• 6 years of experience in insurance and risk administration.
• Experience in claims management and resolution.
• Experience in conducting risk assessments and implementing risk mitigation strategies.
• Strong negotiation skills.
• Excellent analytical and problem-solving skills.
• Strong financial and budgeting skills.
• Excellent communication and interpersonal skills.
• Proficiency in risk assessment and risk management procedures.
• Ability to develop and deliver effective training programs.
  
  

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