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Claims Associate

Location Mumbai, India Job type Full-Time Work mode On-site Job level Professional Job ID 11623 Company Munich Re Employment type Regular Area of expertise Claims & Underwriting
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Claims management for all non-life reinsurance business and handle claims in a responsible, fair and consistent manner. Claims employees demonstrate Integrity when representing Munich Re Group and meet regulatory & compliance requirement. Deliver accurate and timely management of all claims underwritten by MR India Branch with client-centricity. Setting of reserve and prompt payment of claims, effective financial reporting to relevant departments of individual losses and accounts.

Your Role: 

  1. Timely management of non-life claims including identification of coverage & reserving deficiencies in client’s claims and anomalies in policy / treaty wordings - Determine coverage and quantum under a re/insurance policy. Evaluation & execution of Minimisation of claims costs . Achieve minimum claims leakage. Participate in quarterly & year end valuation meetings. Internal communication updates to all stakeholders. 
  2. Monitor correct reserves for claims and make recommendation for claims above authority - Recommend reserve for claims in excess of authority level. Comprehensive and timely reporting to all stakeholders. 
  3. Prepare major claims reports & Claims Audit - Report preparation under guidance of claims head. Power BI dashboard for tracking & monitoring of portfolios. Conduct claims audits (internally & externally) & due diligence of clients. Power point presentation in view of representing MRIB Claims with internal & external stakeholders.
  4. Proactive claim management and monitor potential claims developments of catastrophic events (flood, Eq or manmade.) and emerging risks. Provide feedback to underwriting and client management - Supports clients in a structured, solution oriented manner, sharing technical and legal expertise where possible. Produce monthly reports & statics. Participate in non-life meetings and treaty renewal meetings. Co-ordination of regular MR Mumbai Claims Forums. 
  5. Claim governance & compliance - Responsible for branch claims guidelines in accordance with Global & local requirements- Ensuring the data of claims is complete, accurate and updated regularly, thereby allowing meaningful reporting as well as providing valuable data to internal stakeholders. E-file management 
  6. Nat Cat Event Risk Identification & Exposure Management - Pre & Post event monitoring in addition of the Capital reserving. Market analysis & assessment of exposure in a structured framework. 

    Your Profile: 

    1. Bachelor’s degree or above. Engineer / Lawyer and / or Insurance qualifications.
    2. Skilled in Data analysis with excellence in MS Office, MIS, Power point presentation
    3. 3-6 Years experience of Claims management in Insurance / Reinsurance companies
    4. Excellent command in written & spoken English and market specific language skills
    5. Understanding and knowledge of Insurance and Reinsurance contracts will be added benefits
    6. Claim handing experience of Cyber, Liability, Parametric, Aviation, Singe Large losses of P&C, Marine, Motor, Agro 
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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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