Collections Specialist - 3-5 Yrs

Role Summary:
We are seeking a diligent and experienced Collections Specialist to join our team in Coimbatore. The ideal candidate will be responsible for managing outstanding debts, implementing collection strategies, and ensuring timely recovery of payments for our insurance policies. This role requires strong communication, negotiation, and problem-solving skills, suitable for individuals with a Bachelor's degree and 3-5 years of experience in collections, preferably within the insurance sector.

Key Responsibilities:
- Proactively manage a portfolio of overdue accounts to minimize outstanding balances.
- Implement effective collection strategies and techniques to recover payments.
- Contact customers via phone, email, and letter to discuss outstanding payments and resolve queries.
- Negotiate payment plans and settlements with customers in accordance with company policies.
- Maintain accurate and detailed records of all collection activities and customer interactions.
- Liaise with internal departments (e.g., Underwriting, Claims) to resolve issues impacting collections.
- Prepare regular reports on collection performance and aging analysis.
- Ensure compliance with all relevant debt collection laws and regulations.
- Identify and escalate complex cases to the collections manager for further action.
- Continuously review and improve collection processes to enhance efficiency and effectiveness.