Motor Recovery Executive

GIG Gulf is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 13 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 3.83 billion and $69 million net profit for the year 2023. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way.Job purposeTo recover outstanding Recovery amounts from Third Parties Insurers and Third PartiesPerform recovery activities following a sustainable and integrated strategy, aligned to GIG Gulf guidelines, and taking into account the local context and needs, the impact on profitability, process efficiency and clients’ needsAssure the commitment needed to achieve with success the goals defined in the recovery action planKey ResponsibilitiesRecovery from TP InsurersPrepare, maintain, and send all the recovery files to the concerned third‑party insurers, Individual, insuredProvide any required information on any claim to the concerned Third Parties Insurers and Third PartiesAcknowledge receipt of recovery claims from Third Parties Insurers and ensure processing them internally within the set time frame and maintain them in a proper filing system.Ensure that debit notes and credit notes are issued on time and follow up debt collection on a regular basisDevelop and maintain excellent relations with reps of all Third Parties Insurers in order to be able to handle and negotiate with on litigious recovery filesEnsure the recovery of all claims within a maximum period of three years to prevent claims from becoming time‑barred.In case of recoveries from Third Parties Insurers:proactively deal with TP Insurance companies on all motor recovery claims and authorizations up to the settlement, within the company guidelines and the agreed service standardsvisit TP Insurance Companies in the Gulf region to negotiate/exchange credit notes on a regular basis and to act as intermediary for issues related to motor claims recoveries (notifications/salvage);develop and maintain excellent relations with representatives of all TP InsurersReconcile the accounts with all Third Parties Insurers on a quarterly basisRecovery from Salvage (Where Third Party Insurers are involved)Receive and review reports from the Total Loss Department identifying claims that require sending salvage notifications to insurance companies.Send official notifications to insurance companies within 7 days, including the prices offered by our buyer for the salvage.Obtain written approval from the insurance companies via email to proceed with the sale of the salvage, either to our buyer or to the insurer’s nominated buyer if a higher offer is received.Communicate the final decision to the Salvage Department and coordinate the necessary actions accordingly.Follow up with the buyer to ensure timely payment and coordinate with the Accounts Department to confirm receipt and proper recording of the payment.Recovery from Un‑Insured IndividualsIdentify the liable individual (un‑insured) including his name, nationality, ID, contact number etc.During all stages of claim send official recovery notification to the individual, reserving the company’s rightsNegotiate for an amicable settlement avoiding legal escalationsCo‑ordinate with legal team to ensure the proper legal escalation are raised with all supporting documents and information’sFluency in writing, reading and spoken Arabic and English mandatory5 years of work experience in a similar roleSound knowledge of motor claims regulations / policy / procedures in UAE, Oman, Bahrain, QatarKnowledge of the claims Recovery policy, processes, and practiceSound knowled