Sr. Officer Claims –Industrial plants and Machinery Unit

Sr. Officer Claims –Industrial plants and Machinery Unit

Job Description

Job scope: The job involves assessing, evaluating, and processing claims related to industrial equipment, machinery, and plant asset Technical expertise in the automobile sector ensures accurate and fair claim settlements for complex mechanical system.

Job Description:

• Inspect damaged plants, machinery and industrial equipment to assess the extent of damage and determine repair or replacement costs.
• Verify the cause of damage (e.g., mechanical failure, operational error, natural calamity or fire) and ensure it aligns with the policy coverage.
•  Evaluate whether the equipment is repairable or a total loss (write-off).
•  Analyze repair or replacement estimates provided by vendors, manufacturers or repair centers for accuracy and fairness.
•  Ensure compliance with insurance policy terms and conditions.
• Identify fraudulent claims by examining damage, maintenance records and operational logs.
•  Prepare detailed inspection reports, including photographs, diagrams and repair/replacement estimates.
•  Maintain accurate records of claims, assessments and settlements.
• Collaborate with surveyors, vendors and policyholders to gather necessary documentation.
•  Recommend claim settlements based on the assessment and policy terms.
•  Negotiate with vendors, repair centers and policyholders to reach a fair settlement.
•  Ensure timely processing and payment of claims.
• Communicate with policyholders to explain the assessment process and settlement details.
• Address technical queries related to machinery damage, repairs and replacements.
•  Provide support during the claim process to ensure customer satisfaction.
•  Ensure all claims are processed in compliance with regulatory guidelines and company policies.
• Conduct periodic audits of claims to maintain quality and accuracy.
• Stay updated on industry standards, repair techniques and advancements in plant and machinery technology.
• Identify red flags in claims, such as exaggerated damage, lack of maintenance or false documentation.
•  Work with the investigation team to resolve suspicious claims.
• Risk assessment to estimate Probable Maximum Loss (PML) and provide insights on risk factors to underwriting department.

Job specification:

•  Bachelor’s degree in Industrial Engineering/Mechanical Engineering or a related field.
• Strong knowledge of mechanical systems, industrial machinery, and plant operations.
• Prior experience of 3 years in mechanical engineering, plant maintenance, or machinery repair is preferred.

Application ends April 02, 2025