Senior Recovery Officer
2 weeks ago
At Kaarlo Training & HR Solutions Pvt. Ltd., we are seeking a highly skilled and experienced Senior Recovery Officer to join our team. The successful candidate will be responsible for overseeing the recovery process of unpaid premiums, overpaid claims, and amounts due from policyholders or beneficiaries.
Key Responsibilities:
- Oversee the recovery process of unpaid premiums, overpaid claims, and amounts due from policyholders or beneficiaries.
- Collaborate with the claims department to identify and recover funds owed on life insurance policies.
- Ensure timely and accurate resolution of recovery cases while minimizing loss.
- Develop and implement effective strategies for debt collection, negotiating with policyholders or beneficiaries on outstanding dues.
- Work with third-party collection agencies and legal teams to ensure recovery actions are taken efficiently.
- Ensure all recovery processes comply with legal standards, regulatory requirements, and company policies.
- Liaise with legal counsel for cases requiring legal intervention and represent the company in court if needed.
- Analyze data to identify trends, recovery rates, and areas for improvement.
- Prepare detailed recovery reports for senior management, highlighting progress, challenges, and action plans.
- Handle escalated cases and communicate professionally with clients, beneficiaries, and their legal representatives.
- Maintain positive relationships with policyholders and intermediaries during the recovery process.
- Manage and guide a team of recovery officers, setting targets and monitoring their performance.
- Provide training and development opportunities to enhance the team's efficiency.
- Assess the risks associated with recovery cases and create risk mitigation strategies.
- Identify fraudulent claims and collaborate with fraud investigation teams when necessary.
- Utilize claims management systems, CRM, and recovery software to track cases and ensure efficiency in processes.
- Continuously improve the use of technology in the recovery process to streamline operations.
- Work closely with departments such as Underwriting, Legal, Claims, and Finance to facilitate smooth recovery operations.
- Provide insights and feedback to improve overall claims and policy administration processes.
Requirements:
- Any Graduate
- Excellent communication and interpersonal skills
- Ability to work in a team environment
- Strong analytical and problem-solving skills
- Ability to handle multiple tasks and prioritize work
- Good time management and organizational skills
- Ability to work under pressure and meet deadlines
- Knowledge of claims management systems and recovery software
- Ability to analyze data and identify trends
- Excellent reporting and presentation skills
What We Offer:
- Competitive salary and benefits package
- Opportunities for career growth and professional development
- Collaborative and dynamic work environment
- Recognition and rewards for outstanding performance
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