· The incumbent will be managing Motor Third Party Litigation end to end for entire South Zone
· Strategic management of high value litigation
· Entrustment of TP claims for Panel Advocate & Investigation team and follow up for the reports and QC of the investigation reports, closure of the claims through legal procedure
· Define and execute litigation roadmaps for the south zone
Skills & QualificationØ Graduate in Law form any Recognized University in India
Ø Good command on written and spoken English & any one regional language Tamil/Malayalam/Telugu
Ø Must be a localite of Tamilnadu/Kerala/Andhra Pradesh
Ø Multilingual ability is an added advantage
Ø Experience in the insurance sector (Legal/Litigation department) at least 2 years of overall service.
Ø Motor Third Party Claims handling for ten + years
Ø Preferrably having knowledge of MS Office and know how in Microsoft Excel
ResponsibilitiesØ Take full responsibility of managing motor third party claims for the South Zone and over see, the team management in registration, allocation of cases to the external vendors,investigation report review, processing of court awards, follow up for the closure of the claims with due process of law.
Ø Standardize workflows for court award processing and vendor payments to meet stringent turnaround times (TATs) and avoid penal interest/escalations.
Ø Drive proactive settlement strategies, specifically focusing on high-value targets via Lok Adalats and pre-litigation negotiations.Need to process the court payments within given Timelines
Ø To check the quality in investigation reports from the vendors and to provide the feedback in case of any requirement
Ø Oversee systematic review and modification of litigation reserves to ensure accurate provisioning and mitigate financial impact.
Ø Directly oversee complex and high-exposure litigation cases, ensuring effective representation before MACTs and Higher Courts.Must work efficiently on set goals and work to avoid any escalations and maintain the relevancy and quality while handling the claims before courts
Achievement of monthly/quarterly settlement targets and reduction of long-pending litigation cases.
Skills Required
- Graduate in Law from a recognized Indian university
- Good command of written and spoken English and one regional language (Tamil, Malayalam, or Telugu)
- Local resident of Tamil Nadu, Kerala, or Andhra Pradesh
- Multilingual ability
- Experience in the insurance sector (Legal/Litigation) of at least 2 years
- Motor Third Party claims handling experience of 10+ years
- Knowledge of MS Office and Microsoft Excel
What We Do
ACKO, launched in 2016, is a tech company which is solving real-world problems for customers, starting with insurance. We are India’s first digital-native insurer and have meaningfully redefined the insurance category. As a new-age brand, ACKO has brought the customer into the focus with fair pricing, convenience, and superior customer experience. ACKO was founded by Varun Dua and Ruchi Deepak. Varun is a serial fintech entrepreneur who has had extensive experience in the insurance industry spanning over two decades. Prior to this, he was CEO and Co-Founder of Coverfox Insurance Broking. Ruchi has worked in financial services in Mumbai and London with organizations such as Franklin Templeton and venture capital firm Matrix Partners. ACKO is targeted in its approach and operates in the Auto insurance, Embedded Insurance (bite-sized contextual coverages like mobile insurance), and Health Insurance sectors. As a customer-first company serving the digitally savvy, ACKO’s value proposition of ‘Welcome Change’ highlights the offerings of the company that make insurance simple and hassle-free. With features such as zero commission, zero paperwork, instant renewal, same-day claim settlements, and app-based updates on claims, ACKO is a 'Welcome Change' from traditional insurers. The company has pioneered the D2C model for insurance in India and empowers customers to choose the right product based on their requirements at the best price, at the click of a button with zero paperwork. ACKO has recently raised USD 450+ million to date and are backed by private equity majors such as General Atlantic and Multiples private equity, top venture capitalists such as Accel, Elevation, and Lightspeed Multiples, along with Amazon, Canada’s largest Pension Fund (CPPIB) amongst others. The company has grown at a CAGR of 88% in the last 4 years, served 75+ million customers and has issued ~900 million policies till date. Check our website - www.acko.com to know more about us.
