Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, general and Medical insurance.

Role Purpose

The role holder will be responsible for the efficient and accurate processing of pension claims, ensuring that all claims are handled in compliance with company policies, regulatory requirements, and industry standards. This role involves liaising with clients, beneficiaries, and internal departments to facilitate the timely settlement of pension benefits and provide exceptional service to all stakeholders.

Main Responsibilities

Operational

• Claims Processing. Review and verify pension claims documentation for completeness and accuracy. Process pension claims in accordance with established procedures and timelines. Calculate benefits and ensure accurate disbursement to beneficiaries.
• Client Communication. Communicate with claimants, beneficiaries, and clients to provide information on the claims process, requirements, and status updates. Address and resolve any queries or issues related to pension claims promptly and professionally.
• Documentation and Record-Keeping. Maintain accurate and up-to-date records of all claims processed. Ensure proper documentation is retained for audit and compliance purposes.
• Coordination. Liaise with internal departments such as customer experience, finance, and Risk & Compliance to ensure smooth processing and settlement of claims. Coordinate with external parties, including medical examiners and legal advisors, as necessary.

Corporate Governance

• Compliance. Ensure adherence to all regulatory requirements, industry standards and the company’s policies in the administration of premiums. Implement and maintain robust internal controls to mitigate risks and ensure compliance with relevant laws and regulations.
• Compliance. Ensure all pension claims are processed in compliance with regulatory requirements, industry standards, and company policies. Stay updated on relevant laws and regulations affecting pension claims and adjust processes accordingly.
• Internal Controls. Implement and maintain robust internal controls to prevent fraud and ensure the integrity of the claims process. Participate in internal and external audits, providing necessary documentation and addressing any findings.
• Risk Management. Identify potential risks in the claims process and develop strategies to mitigate them. Ensure all claims are reviewed for potential fraud and discrepancies are thoroughly investigated.

Culture

• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning. Create personalized development plans that align with your career aspirations and the organization’s objectives.

Requirements

Key Competencies

• In-depth knowledge of life insurance regulations and industry practices.
• Attention to Detail. High level of accuracy and attention to detail in processing and verifying claims.
• Analytical Skills. Strong analytical skills to review claims documentation and calculate benefits accurately.
• Communication Skills. Excellent verbal and written communication skills to interact effectively with claimants, beneficiaries, and internal stakeholders.
• Problem-Solving. Ability to identify and resolve issues related to claims processing efficiently.
• Customer Service Orientation. Commitment to providing high-quality service to clients and beneficiaries.

Academic Background & Relevant Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Professional certification in insurance or pensions (e.g., CII, IFoA) is a plus.
• Minimum of 2-3 years of experience in claims processing, preferably within the life insurance or pension sector.
• Experience in handling pension claims and understanding of pension benefits calculations is highly desirable.
• Proven track record of working in compliance with regulatory requirements and company policies.