Make your mark at this well-established insurance company! Use your relevant insurance related accounting experience. You will be responsible for reporting on insurance matters, reconciliations for bank versus bordereaux, commission calculations, loading of debit orders and claims, SASRIA and cash flow to name a few!
Duties & Responsibilities
Ensure that if invoices are received from customers for payments supporting documents are gathered to support the payment and ensure payment is done within 24 hours
Ensure that customer queries are followed up within a reasonable time, that verbal and signed communication is clear and efficient
Ensuring effective and clear communication within the company’s internal customer structure.
Ensuring that internal customers also receives on time feedback on all queries, complaints or compliments.
Ensuring accurate and timeous reporting of premiums and claims received by customers or by creating own reporting bordereaux's for relevant data/information sent by customers.
Ensuring that reporting deadline are met.
Ensuring that broker commissions, binder fees are correctly calculated and falls within the parameters as set out in the singed binder agreements.
Calculating UPR reserves and ensuring it is correctly reported on.
Building IBNR (incurred but not reported) reporting schedule over all classes and different customers for the accurate reporting and provisions thereof.
Calculating outstanding claims reserves for reporting structures and provisions by obtaining outstanding claims lists from customers and double checking the validity and accuracy of these lists.
Ensuring that the monthly reporting setup on each customers is done correctly and is in accordance with the singed binder agreements.
Ensuring that reinsurance reporting is done accurately and is timeous.
All invoices received from reinsurance brokers are double checked and compared to data and information calculated on monthly reporting basis.
Ensure that once information is satisfied to be correctly calculated and authorized that payments to reinsurance brokers or reinsurers are made timeously
Day to day Tasks
Checking customers claims accounts on a daily basis and if found insufficient ensuring that it is toped up to the required and agreed upon balance.
Make sure that supporting evidence are attached to all top up requests.
When loading payments ensure that payee details are verified and exists before sending claims payment for authorization.
Cash flows are done twice a week to ensure enough cash are available for claim pay outs, binder fee payments and commission payments.
For large losses ensure that supporting evidence are available and check the UMA's director signed off on claim and that it authorized by director before loading claim payment.
Make sure that all claims loaded are signed and dated as evidence of verification and existence of claim.
Follow up on any weird claim to be paid before loading payment onto bank account.
Month to Month Tasks
Ensure that accurate and complete reconciliations are done on a monthly basis.
This includes all balance sheet line items.
Ensure that all documents are filled and kept neat in a separate closet that is not open to anybody in the company.
Monthly meeting are held with UMA's to ensure all information given by them are complete and accurate and to touch base with their growth and other performance obligations, as well as discussions of new business proposals ending of business etc. to ensure that reporting is kept up to date with the clients reporting requirements.
Desired Experience & Qualification
English fluency (clients and business language)
BCom Accounting / BTech / National Diploma (3 year full time qualification) - Completed
Insurance industry accounting experience essential.
SAP is an added advantage.