Responsibilities of Designated Officers and Their Scope of Work

To ensure that insurance claims are settled promptly, transparently, and within the stipulated timeframe, the following responsibilities are assigned to the designated officers:

1. Ms. Tilottama Hossain (Officer)

• Verify the relevant insurance policy/certificate immediately upon receiving notification of a loss or accident from the insured.
• After preliminary verification, obtain approval from the Department Head to open a claim file.
• Register the claim under the appropriate insurance class and subclass.
• Arrange for the appointment of a licensed surveyor, with the approval of the Department Head, to assess the loss without delay.

2. Mr. Md. Azad (Officer)

• Send the claim form and the list of required documents to the insured through email, courier, postal service, or any other appropriate communication channel as instructed by the Department Head.
• Forward the approved Loss Voucher to the insured upon approval of the claim by the competent authority.
• Coordinate with the Accounts Department to prepare and dispatch the claim payment cheque promptly.
• Ensure that all claim settlement procedures are completed within the statutory period of 90 (Ninety) days.

3. Mr. Md. Masum Billah (Assistant Manager)

• Review registered claims to determine whether they are reinsurance-related.
• Complete all necessary formalities with the reinsurer in accordance with the applicable reinsurance treaty and the instructions of the Department Head.
• Maintain regular communication with all concerned parties to collect the final survey report and supporting documents within 30 (Thirty) days.
• Examine the survey report and supporting documents thoroughly before submitting the claim file to the Department Head for approval.
• Notify the insured in writing, with specific reasons, if the claim is found to be non-payable.
• Ensure that no discount, commission, service charge, or any other unauthorized fee is collected from the insured during the claim settlement process.

4. Mr. Md. Mahfuzur Rahman (Deputy Vice President & Head of Claims Department)

• Review and verify the claim documents before forwarding them to the Chief Executive Officer for approval.
• Submit claims exceeding the financial authority of the Chief Executive Officer to the Claims Committee and subsequently to the Chairman for approval.
• Maintain continuous communication with both local and foreign reinsurers regarding recoverable reinsurance claims.
• Ensure timely submission of all required documents to the reinsurers and expedite the collection of reinsurance recoveries.

Standard Operating Procedure for Insurance Claim Settlement

Under the overall supervision of the Department Head, the designated officers shall undertake the following actions to ensure the prompt settlement of claims:

• Maintain regular communication with the insured and appointed surveyor.
• Ensure timely collection of all required documents.
• Keep the insured informed regarding the progress of the claim.
• Provide necessary guidance and assistance throughout the claim process.
• Receive and transmit documents electronically whenever feasible.
• Coordinate with all concerned departments to ensure settlement within the prescribed timeline.

Designated Officers by Insurance Class

Customer Service and Complaint Handling

• A dedicated Help Desk shall be available at the Head Office and all branch offices to facilitate communication between policyholders and the Claims Department.
• Policyholders shall have continuous access to the designated Help Desk throughout the claim process.
• Complaint boxes shall be installed at the Head Office and all branch offices to receive customer feedback and complaints.

Financial Liquidity

To ensure the prompt settlement of insurance claims, the Company maintains adequate financial liquidity every quarter so that admissible claims are not delayed due to a shortage of funds.

Digital Claims Management

• The Company shall implement a modern digital claims management system through web and mobile applications for claim submission, processing, and settlement.
• Policyholders shall be able to track the status of their claims online.
• Claim progress shall be updated regularly on the Company's website to ensure transparency.

Financial Delegation for Claim Approval

The Company's AAA Credit Rating reflects its strong financial strength and demonstrates its ability to settle both routine and large-value insurance claims promptly and transparently.

1. Claims Committee

• Insurance claims ranging from BDT 1 to BDT 500,000 (Five Lakh) shall be submitted to the Claims Committee for approval.
• The Chief Executive Officer and the Claims Committee are authorized to approve claims up to BDT 500,000 (Five Lakh).

2. Chairman

• Insurance claims exceeding BDT 500,000 (Five Lakh) shall require the approval of the Chairman of the Board of Directors.

This delegation of authority ensures that claims are processed efficiently while maintaining appropriate governance and internal control standards.