Insurance Premium Financing (IPF) Officer

Summary

As part of the Insurance Solution team, the IPF Officer plays a key role in ensuring timely and accurate allocation of Insurance Premium Financing payments, while delivering exceptional service to customers and intermediaries. This position is instrumental in supporting BCIC’s commitment to operational excellence and customer-centric solutions.

Responsibilities

The scope of this job encompasses but not limited to:

• • Monitor and maintain the Weekly Cash Template to ensure unallocated payments are tracked and addressed promptly.
• • Prepare and dispatch cancellation notices to Brokers, Agents and Customers with overdue balances via email or postal service.
• • Ensure payments are accurately allocated within 48 hours of receipt, utilising all available systems and reconciliation tools.
• • Proactively follow up with customers regarding current and overdue balances to support timely collections.
• • Collaborate with customers to establish flexible and manageable payment plans, ensuring alignment with BCIC’s service standards.
• • Generate and distribute account statements to Brokers, Agents, and Customers as required.
• • Initiate the policy cancellation process for delinquent accounts, guided by reports from the Insight system.
• • Process refund requests efficiently and in accordance with internal controls.
• • Manage and respond to cancellation notice requests from Brokers, Agents, and Financial Partners.
• • Issue notices and engage with customers regarding recycled or returned payments.
• • Coordinate with the Underwriting & Reinsurance Team on payments received for policies previously cancelled or lapsed.
• • Respond to all queries with professionalism, ensuring a high standard of customer service.
• • Schedule and conduct monthly Broker account reconciliations to maintain accurate financial records and foster strong intermediary relationships.

Required Skills

• Accounting:

  • • strong accounting and clerical skills to maintain accurate records and improve professional processes. Capable of assessing customers’ financial status and developing payment plans.

• Negotiation:

  • • skilled in negotiating payment plans with customers and settling differences by reaching an agreement while avoiding disputes.

• Conflict resolution:

  • • Ability to identify and implement amicable solutions to potential issues between customers and the company, while fostering repeat business and enhancing the customers’ perception of BCIC.

• Knowledge of debt laws and regulations:

  • • perform duties and responsibilities in compliance with guidelines and privacy laws. Understand the laws that cover debts before taking legal actions.

• Problem-solving:

  • • Ability to navigate the numerous daily challenges by identifying the best payment plan for a customer after considering their current circumstances and debt level.

• Communication:

  • • Ability to influence customers to quickly settle their debts. Capable of communicating with co-workers, Agents, Brokers and management with clear and understandable payment records.

• Customer service:

  • • Skilled at improving customer loyalty by assisting all current and potential customers by answering questions and fixing issues, which supports strong customer relationships.

Qualifications

• • Accounting Diploma/CAT III
• • At least two (2) years in an accounting environment, preferably in Insurance Accounting.
• • Working experience in Microsoft Office Excel

Additional Information and Instructions

Applications must be include the following: Cover Letter Resume Applications should be submitted no later than 5:00pm on Monday, May 26, 2025, via email to careers@bcicjamaica.com. Your application will be formally acknowledged, if you are shortlisted for an interview.

About British Caribbean Insurance Company Limited (BCIC)

British Caribbean Insurance Company Limited (BCIC) is the #1 General Insurer in Jamaica! We foster a learning environment in which our people thrive, performance excels and business grows! We know that the right employees are the key to our success – so we are looking for two Assistant Investigators to join our team and help us achieve our vision.

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