Claim Processing jobs in Dadar, Mumbai, Maharashtra

Job Description Reinsurance Claims & Regulatory Reporting

Position Manager / Assistant Manager

Department Operations

Function Claims

Reporting to Sr. Manager

To manage reinsurance claims reporting, regulatory reporting, MIS, data validation and reconciliation, ensuring accurate and timely submission of information to reinsurers, regulators and internal stakeholders. The role will also support compliance with applicable regulatory requirements, internal controls and reporting timelines.

Key Responsibilities

1. Reinsurance Claims Management & Reporting

• Manage end-to-end reinsurance claims reporting and monitoring across products and reinsurers.

• Prepare and submit periodic reinsurance claims reports, statements and MIS within defined timelines.

• Ensure accurate calculation and reporting of reinsurance recoveries and outstanding amounts.

• Reconcile reinsurance claims data with internal claims, finance and policy systems.

• Coordinate with Claims, Finance, Underwriting, Operations and Reinsurance teams to resolve data discrepancies and claim-related queries.

• Coordinate with reinsurers for claim documentation, queries, recoveries and settlement status.

2. Regulatory Reporting

• Prepare and coordinate periodic regulatory reports/returns relating to claims, reinsurance and other applicable business parameters.

• Ensure reports are accurate, complete and submitted within prescribed regulatory timelines.

• Validate regulatory reporting data against source systems, financial records and internal MIS.

• Coordinate with relevant functions for data collation, validation, certification and submission.

• Monitor changes in applicable regulatory guidelines, reporting formats and requirements and assess their impact on reporting processes.

• Maintain appropriate documentation, workings and audit trails supporting regulatory submissions.

• Support responses to regulatory queries, inspections and information requests relating to claims and reinsurance reporting.

3. Data Governance & Reconciliation

• Perform detailed data validation, reconciliation and quality checks before submission of reports.

• Identify data gaps, inconsistencies and exceptions and ensure timely resolution.

• Maintain robust reporting controls to minimise errors, omissions and duplicate reporting.

• Develop and maintain reporting trackers, dashboards and exception reports.

• Ensure consistency between claims, reinsurance, finance and regulatory reporting data.

4. Compliance & Governance

• Ensure adherence to applicable IRDAI regulations, circulars, guidelines, internal policies and SOPs relevant to the role.

• Support internal, statutory and regulatory audits by providing required data and documentation.

Skills

• 100% timely submission of applicable regulatory and reinsurance reports.

• Accuracy and completeness of regulatory submissions.

• Accuracy and timely reconciliation of reinsurance claims data.

• Timely processing and monitoring of reinsurance recoveries.

• Reduction in reporting errors, exceptions and data discrepancies.

• Timely closure of audit and compliance observations.

• Effective tracking and resolution of regulatory/reinsurer queries.

• Improvement in reporting automation and process efficiency.