Officer, Insurance Claims and Asset Remedial

Job Description

Insurance Claim Lifecycle Management

Serve as the single point of contact for all insurance claims relating to MOFCL-financed assets, from initial loss notification through to final settlement.

Register all reported incidents in the Claims Register on the date of receipt and formally notify insurers/brokers within stipulated policy timelines.

Compile and submit complete claim documentation, including claim forms, police abstracts, driver’s licences, registration cards, loan/asset documents, survey reports, repair estimates, invoices, discharge vouchers, and other supporting documents.

Coordinate and attend physical asset surveys and challenge under-assessments, exclusions, or unjustified deductions with appropriate supporting evidence.

Monitor claims through survey, assessment, approval, repair, and settlement stages, escalating delayed claims beyond defined thresholds to the Head of RLD.

Maintain claim-wise aging reports and reconcile insurance settlement proceeds against the respective loan accounts to ensure timely application of funds.

Identify shortfalls between insurance settlement proceeds and outstanding loan balances and initiate appropriate recovery action against borrowers and/or guarantors.

Monitor insurance coverage across the portfolio and promptly flag lapsed, cancelled, or under-insured policies to Credit and Operations to ensure continuous coverage.

Accident, Repair & Asset Release Management

Coordinate with approved workshops to obtain timely repair estimates and secure required internal and insurer approvals before issuing work orders.

Monitor repair progress against approved timelines, track spare-parts availability, and conduct physical workshop visits to verify repair status.

Conduct pre- and post-repair inspections, maintain photographic evidence, and verify that completed repairs are consistent with approved estimates before authorizing asset release.

Expedite the release of repaired assets to borrowers to minimize non-earning periods and facilitate timely resumption of EMI payments.

Maintain an updated Workshop Register capturing active repairs, days in workshop, approval status, expected release dates, and reasons for delays or overruns.

Theft, Fire & Total Loss Documentation

Drive timely completion and closure of documentation for theft, fire, and total-loss claims, including police reports, final police reports, registration cards, ignition keys, transfer forms, letters of subrogation, indemnity bonds, and non-traceability certificates.

Maintain a pending-document tracker identifying outstanding documents, responsible parties, follow-up actions, and target resolution dates.

Liaise with police stations, LATRA, TRA, and other relevant authorities to obtain required reports, clearances, registrations, and transfer documentation.

Monitor statutory and policy timelines to prevent claims from becoming time-barred and formally document delays attributable to borrowers or third parties.

Recommend appropriate file-closure strategies, including continued recovery efforts, salvage recovery, subrogation, or write-off, supported by comprehensive written justification.

Asset Investigation, Tracing & Due Diligence

Conduct field investigations to verify asset ownership, physical condition, location, usage, and custody and ensure financed assets remain in the possession of contracted borrowers.

Trace absconding borrowers and missing assets and verify the identities of riders, operators, and third parties found in possession of financed assets.

Investigate suspected fraud, staged accidents, asset misuse, unauthorized sales, asset substitution, registration irregularities, or other suspicious activities and submit evidence-based findings.

Authenticate documents submitted in support of insurance claims and recovery actions and immediately escalate suspected forgery or fraudulent documentation.

Legal, Repossession & Disposal Support

Coordinate with internal and external legal counsel on litigation, recovery, repossession, and related legal matters and attend court proceedings where required.

Ensure demand, statutory, and repossession notices are accurately prepared, properly served, and systematically filed in accordance with Bank of Tanzania (BOT) requirements and company policies.

Manage repossession agents and storage yards, ensuring proper asset inventory, condition assessment, documentation, and custody controls.

Support the valuation, advertising, and disposal of repossessed and salvage assets and reconcile sale proceeds against borrower accounts, clearly identifying any surplus or shortfall.

Ensure all repossession and asset-disposal activities comply with applicable laws, regulatory requirements, and customer conduct standards.

Recovery Operations, Reporting & Compliance

Submit daily status updates and weekly reports covering claims, repairs, recoveries, repossessions, and other remedial activities to the Head of RLD, highlighting exceptions, aging, bottlenecks, and matters requiring approval.

Maintain complete, accurate, and audit-ready records for all insurance claims, recovery cases, repossessions, and remedial files for internal, external, and regulatory reviews.

Ensure compliance with applicable Bank of Tanzania microfinance regulations, the Personal Data Protection Act (PDPA), Anti-Money Laundering (AML) requirements, and fair debt-collection standards.

Analyze recurring causes of claim rejections, repair delays, documentation gaps, and recovery challenges and recommend process improvements to minimize recurrence.

Perform any other duties as assigned by management in support of the department’s recovery and remedial objectives.

Skills Required

Spreadsheets (e.g. Excel, Google Sheets, etc)
Word Processing and Desktop Publishing Tools (MS Office, Google Docs, etc)