Senior Claims Reserve Estimation Specialist

Zero Energy Contracting; United Arab Emirates; Remote; AED 350,000 - 520,000; Full time

Job summary

Zero Energy Contracting seeks a Senior Claims Reserve Estimation Specialist to lead estimation, calculation, and monitoring of insurance reserves. You will collaborate with Claims, Actuarial, Finance, Risk Management, and Reinsurance teams to estimate outstanding liabilities and ensure reserving practices meet accounting standards.

The role requires extensive experience in IBNR/IBNER, chain ladder, Bornhuetter-Ferguson, IFRS 17, and data-driven analysis.

Qualifications

• Bachelor's degree in actuarial or quantitative field is required.
• Professional actuarial qualifications or progress toward FIA, FSA, ACAS, FCAS are advantageous.
• Significant experience in claims reserving and actuarial analysis.
• Strong knowledge of IFRS 17 and regulatory reserve requirements is desirable.

Responsibilities

• Estimate and review outstanding claims reserves including reported but not settled, IBNR, and IBNER reserves.
• Analyze historical data, settlement patterns, loss development triangles, and claims frequency/severity to support reserve estimates.
• Apply reserving methods: Chain Ladder, Bornhuetter-Ferguson, Expected Loss Ratio, and other actuarial techniques.
• Evaluate reserve adequacy across lines, segments, accident years, and reporting periods.
• Develop reserve monitoring dashboards and management reports.

Skills

Claims reserving

Actuarial analysis

Loss development

IFRS 17

Excel

Communication

Problem solving

Data validation

Attention to detail

Remote work

Education

Bachelor's degree in Actuarial Science

Bachelor's degree in Mathematics

Tools

SQL

Python

R

SAS

Actuarial software

Job description

Location: UAE (Remote)

Employment Type: Full-Time

Work Arrangement: Fully Remote

Level: Senior

About Us

Job Title: Senior Claims Reserve Estimation Specialist

Location: UAE (Remote)

Employment Type: Full-Time

Work Arrangement: Fully Remote

Level: Senior

About Us

We are seeking an experienced Senior Claims Reserve Estimation Specialist to assess, calculate, and monitor insurance claims reserves to support accurate financial reporting, effective risk management, and sound business decision-making. This role is ideal for a professional with strong expertise in claims reserving, actuarial analysis, loss development, and insurance financial reporting.

The successful candidate will collaborate with Claims, Actuarial, Finance, Risk Management, and Reinsurance teams to estimate outstanding claim liabilities, evaluate reserve adequacy, analyze claims development patterns, and ensure reserving practices align with applicable accounting standards and regulatory requirements.

Key Responsibilities

• Estimate and review outstanding claims reserves, including reported but not settled claims, incurred but not reported (IBNR) claims, and incurred but not enough reported (IBNER) reserves, where applicable.
• Analyze historical claims data, settlement patterns, loss development triangles, claims frequency, and claims severity to support reserve estimates.
• Apply appropriate reserving methodologies, including Chain Ladder, Bornhuetter-Ferguson, Expected Loss Ratio, and other actuarial techniques based on portfolio characteristics.
• Evaluate reserve adequacy across insurance lines, business segments, accident years, underwriting years, and reporting periods.
• Conduct regular reserve reviews and investigate significant movements, unexpected development patterns, and deviations from previous estimates.
• Perform sensitivity analysis and scenario testing to assess uncertainty in claims liabilities and potential impacts on financial results.
• Collaborate with Claims teams to review large losses, complex claims, litigation exposures, settlement assumptions, and emerging claims trends.
• Coordinate with Reinsurance teams to assess recoveries, reinsurance coverage, and the appropriate treatment of recoverable amounts in reserve analysis.
• Support the preparation of technical provisions and claims liability estimates for financial reporting under applicable accounting frameworks, including IFRS 17 where relevant.
• Reconcile claims reserve calculations with claims administration systems, actuarial models, general ledger balances, and financial reporting records.
• Develop and maintain reserve monitoring dashboards, analytical reports, and management presentations.
• Review claims data quality and coordinate corrective actions to address missing information, inconsistencies, and reporting errors.
• Assess the impact of inflation, changes in claims settlement practices, legal developments, and other external factors on reserve estimates.
• Maintain clear documentation of methodologies, assumptions, data sources, model outputs, and management adjustments.
• Support internal audits, external actuarial reviews, regulatory examinations, and other requests relating to claims reserves.
• Recommend enhancements to reserving methodologies, calculation models, reporting procedures, and internal controls.
• Provide technical guidance to junior analysts and promote consistent reserving standards across relevant portfolios.

Qualifications and Experience

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, Accounting, or a related quantitative discipline.
• Professional actuarial qualifications, such as FIA, FSA, ACAS, FCAS, or equivalent progress toward qualification, are advantageous.
• Significant experience in claims reserving, actuarial analysis, insurance finance, loss reserving, or insurance risk management.
• Strong understanding of claims development, outstanding claims liabilities, IBNR estimation, reserve adequacy testing, and actuarial reserving principles.
• Hands‑on experience with actuarial reserving methodologies, including Chain Ladder, Bornhuetter‑Ferguson, and other appropriate statistical approaches.
• Knowledge of general insurance products and claims processes, with experience in property, casualty, motor, liability, or other relevant insurance lines.
• Familiarity with IFRS 17, insurance financial reporting and applicable regulatory reserving requirements is desirable.
• Experience analyzing large claims datasets and developing actuarial models, forecasting tools and reserve monitoring reports.
• Advanced proficiency in Microsoft Excel; experience with SQL, Python, R, SAS, or actuarial software is highly desirable.
• Strong understanding of data validation, model assumptions, sensitivity analysis, and actuarial documentation standards.
• Knowledge of UAE insurance regulations and regional insurance market practices is an advantage.
• Excellent analytical, quantitative, and problem‑solving skills.
• Strong communication skills, including the ability to explain reserve movements and actuarial findings to non-technical stakeholders.
• High attention to detail, professional integrity, and sound judgment when handling confidential financial and claims information.
• Ability to manage multiple reporting deadlines and work independently in a remote environment.

Key Performance Indicators (KPIs)

• Reserve Estimation Accuracy: Produce reliable reserve estimates supported by appropriate data, methodologies, and assumptions.
• Reserve Adequacy: Identify potential under-reserving or over-reserving risks and provide timely recommendations.
• Reporting Timeliness: Complete reserve calculations, reviews, and reporting deliverables within established deadlines.
• Claims Development Analysis: Identify material changes in claims patterns and explain significant movements in outstanding liabilities.
• Data Quality: Maintain accurate, complete, and consistent claims data for reserving and financial reporting.
• Model Performance: Monitor the effectiveness of reserving methodologies through back-testing and comparison with actual claims development.
• Variance Analysis: Investigate material differences between estimated and actual claims outcomes and recommend appropriate adjustments.
• Financial Reporting Compliance: Support accurate claims liability reporting in accordance with applicable accounting and regulatory requirements.
• Audit Readiness: Maintain complete documentation of calculations, assumptions, model outputs, and review procedures.
• Process Improvement: Enhance reserving models, reporting automation, and analytical efficiency.
• Stakeholder Collaboration: Provide timely and effective analytical support to Claims, Actuarial, Finance, and Reinsurance teams.

What We Offer

• Competitive compensation based on qualifications and relevant experience.
• Fully remote working arrangements within the UAE-based role structure.
• Opportunities to work on complex claims reserving and actuarial analysis projects.
• Exposure to insurance liability valuation, financial reporting, and risk management initiatives.
• A collaborative professional environment that values analytical accuracy, technical expertise, and continuous improvement.
• Opportunities for professional development in actuarial reserving, insurance analytics, and financial risk management.
• The opportunity to contribute to reliable financial reporting and effective insurance liability management.