Recovery Officer – Non-Life Claims

Job Summary

To Efficiently pursue and finalize recoveries from liable third parties or insurers due to the company through subrogation and other recovery avenues.

Job Details

To efficiently pursue and finalise recoveries from liable third parties or insurers due to the company through subrogation and other recovery avenues.
Conduct thorough review of claims files, liability assessments, and documentation to establish potential recovery.
Manage subrogation and other claims related recoveries in line with policy terms and applicable laws.
Liaise with legal teams, external lawyers, or third parties to negotiate settlements and pursue legal recoveries when required.
Work closely with claims handlers, underwriters, reinsurers, brokers, and external recovery agents to ensure seamless recovery processes.
Maintain accurate recovery records in claims systems and generate regular performance reports.
Negotiate settlements effectively with third parties or their representatives to achieve fair recovery outcomes.
Prepare demand letters and other correspondence for recovery pursuit.
Ensure all recovery cases are pursued timely to prevent prescription or statute-barred cases.
Recommend claims for recovery write-off where recovery is not viable, with justifiable documentation.
Maintain accurate and up-to-date recovery registers and databases.

Requirements

LLB, BL.
CIIN will be an added advantage
Minimum of 5 years experience as a recovery officer.
Adequate knowledge of Insurance.

Benefits

Thrive Professionally and Personally at AIICO Insurance Plc.

At AIICO Insurance Plc., we believe in fostering an environment where individuals excel, both personally and professionally. We offer a comprehensive employee value proposition designed to empower you, support your well-being, and fuel your career aspirations.

We offer:

Stress-Free Work-Life: Hybrid work schedules, competitive leave, and reliable transportation.

Holistic Wellbeing: Health & and wellness programs, and subsidized gym memberships.

Grow with Us: Sponsorship for professional certifications, coaching, learning and development opportunities, and more.

At AIICO, we recognize that our employees are our greatest asset. We are committed to fostering a supportive culture where you feel valued, respected, and empowered to achieve your full potential.

Join us and embark on a rewarding career journey that makes a difference.

About Company

AIICO Insurance Plc

https://aiicoinsuranceplc.seamlesshiring.com

AIICO Insurance Established in 1963, AIICO Insurance Plc (NSE Ticker: “AIICO”) is a financial services group with market-leading positions in its key business lines; Insurance, Health Maintenance and Asset Management. Background AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The Company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited – as a wholly owned subsidiary of ALICO/AIG – in 1970 – to offer Life and insurance services. The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria, and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG divested. 1. Life and general insurance are strategic business divisions within AIICO. 2. AIICO Capital Limited – a subsidiary of AIICO providing asset management services for AIICO and 3rd parties. 3. AIICO Multishield Limited – a leading health maintenance organisation. Following the insurance industry's consolidation in 2007, the Company acquired NFI Insurance PLC and Lamda Insurance Company Limited (both cumulatively accounting for less than 30% of AIICO's pre-acquisition gross premiums). The Company subsequently re-certified as both a General Insurance and Life Assurance Company – taking advantage of its legacy, brand, franchise and strong retail distribution network to grow a leading General Insurance business.