Ibad Siddiqui
dubai,United Arab Emirates
Summary
Accomplished professional with extensive expertise in risk management, debt recovery, and claims processing. Demonstrates a strong ability to engage stakeholders and manage client relationships effectively. Proficient in cost control, regulatory compliance, and recovery strategy development. Skilled in data analysis, claims auditing, and fraud detection with a comprehensive understanding of insurance products. Adept at managing performance metrics and budget control while ensuring compliance understanding and litigation management. Committed to leveraging statistical analysis for enhanced claims management and recoveries management.
Overview
11
11
years of professional experience
Work history
Managing Director
Sovereign Consultant
08.2024 - 07.2025
- Conducted in-depth risk assessments and audits to identify vulnerabilities and recommend strategic improvements.
- Managed end-to-end debt collection processes, including negotiation, recovery strategy, and client communication to maximize recoveries and minimize bad debt.
- Oversaw insurance claims from initiation to resolution, ensuring accurate documentation, timely processing, and adherence to policy guidelines.
- Implemented performance metrics and dashboards to monitor collections efficiency and claims turnaround times.
- Maintained up-to-date knowledge of regulatory changes affecting risk, debt, and insurance domains.
- Built strong relationships with stakeholders including clients, underwriters, legal advisors, and third-party collection agencies.
Senior Manager-Motor Claims, Risk & Collections
Yas Takaful
06.2023 - 07.2024
- Led the development and execution of enterprise-wide risk management strategies aligned with regulatory standards and organizational objectives.
- Successfully integrated risk mitigation practices into strategic decision-making in collaboration with senior leadership.
- Streamlined claims operations by implementing a centralized approval process, enhancing transparency, control, and efficiency.
- Achieved AED 15 million in cost savings through optimized motor claims handling and surveys.
- Maintained an impressive loss ratio of 75%, down from 150% in previous years.
- Spearheaded fixed-rate agreements with repairers to ensure cost control and quality control.
- Drove AED 25 million in salvage sales revenue, including a 312% increase in the second half of 2023.
- Recovered AED 35 million in motor technical recoveries and secured AED 40 million in financial collections from the insurance market over a 12-month period.
- Proactively identified and mitigated emerging risks through cross-functional coordination, strengthening overall operational resilience.
Joint Motor Claims Manager
Adamjee Insurance Co. (Dubai)
11.2022 - 06.2023
- Managed end-to-end motor claims operations, leading a team of 15 including front desk staff, claims processors, and surveyors.
- Implemented a structured claims approval process to control claim costs and maintain a healthy loss ratio.
- Provided strategic direction to the team, ensuring efficient and accurate claims handling.
- Regularly prepared and presented claims performance reports to senior management, while initiating and overseeing cost-effective projects aimed at improving departmental profitability and operational efficiency.
Motor Claims & Underwriting Manager
Salaam Takaful Limited. (Pakistan)
03.2022 - 11.2022
- Led the underwriting and claims teams in managing daily policy issuance and reported claims, ensuring adherence to regulatory and internal compliance standards.
- Oversaw internal and external survey reports and granted approvals in line with the authority matrix.
- Assessed risks proactively and coordinated with relevant departments to ensure timely response and compliance.
- Successfully implemented advanced technology solutions to streamline and enhance underwriting and claims management processes.
- Facilitated delivery of exceptional customer service by fostering a client-focused culture within the team.
- Led the development and implementation of risk management strategies, bolstering company's financial stability.
- Advocated prudent decision-making in line with company's risk appetite, safeguarding against potential financial losses.
- Drove the achievement of organisational objectives through strategic leadership of the underwriting team.
Assistant Motor Claims Manager
Al Wathba National Insurance Co.
04.2019 - 02.2022
- Supervised branch-level motor claims operations while supporting recovery from third-party insurers.
- Maintained a strong loss ratio of 60% for underwriting years 2020 and 2021 through the implementation of cost-effective claims processes.
- Successfully negotiated a fixed-rate agreement with a major automotive agency, allowing open-limit repairs while reducing overall repair costs.
- Coordinated with multiple agencies and workshops to control expenditures.
- Prepared and submitted comprehensive motor technical reports to management on a monthly, quarterly, and yearly basis.
Senior Supervisor Claims
Dubai National Insurance & Reinsurance
09.2016 - 04.2019
- Led a cross-functional motor claims team including front desk staff, handlers, surveyors, and settlement officers, overseeing all daily operations.
- Managed communications with reinsurers for claims exceeding retention limits and coordinated settlement of gap claims.
- Provided support to the legal department on court-referred claims.
- Handled key fleet accounts such as Al Habtoor Motors, Diamond Lease, and other major clients, ensuring efficient claims resolution and high service standards.
Senior Motor Claims & Recovery Officer
RAK insurance
07.2014 - 09.2016
- Led the claims, survey, and recovery teams, overseeing daily branch-level claims handling and ensuring timely recoveries from insurance companies.
- Responsible for preparing and submitting monthly performance reports to management.
- Successfully implemented a paperless claims processing system, enhancing operational efficiency, speed, and compliance within the department.
Education
Bachelor of Commerce - Risk, Audit & Finance
karachi University
pakistanSkills
- Risk management
- Debt recovery
- Claims processing
- Performance metrics
- Stakeholder engagement
- Cost control
- Regulatory compliance
- Recovery strategy
- Data analysis
- Claims auditing experience
- Knowledge of insurance products
- Fraud detection awareness
- Recoveries management
- Claims analysis
- Budget control
- Client Relationship Management
- Fraud detection
- Expert communication
- Statistical analysis
- Litigation management
- Compliance understanding
- Claims management
Languages
English
Fluent
Arabic
Beginner
key achievement
- Reduced motor claims loss ratio from 150% to 75% within 12 months through process control and cost optimization.
- Delivered over AED 115 million in financial impact via recoveries, collections, and salvage sales.
- Achieved AED 35M in technical recoveries and AED 40M in market collections within one year.
- Drove AED 25M in salvage revenue, including a 312% increase in H2 2023.
- Negotiated fixed-rate garage agreements, saving AED 15M in claims leakage.
- Led risk assessments and audits across insurers and corporates, enhancing compliance and operational resilience.
- Digitized claims operations, improving turnaround time by 40% and reducing manual errors.
Timeline
Managing Director
Sovereign Consultant
08.2024 - 07.2025
Senior Manager-Motor Claims, Risk & Collections
Yas Takaful
06.2023 - 07.2024
Joint Motor Claims Manager
Adamjee Insurance Co. (Dubai)
11.2022 - 06.2023
Motor Claims & Underwriting Manager
Salaam Takaful Limited. (Pakistan)
03.2022 - 11.2022
Assistant Motor Claims Manager
Al Wathba National Insurance Co.
04.2019 - 02.2022
Senior Supervisor Claims
Dubai National Insurance & Reinsurance
09.2016 - 04.2019
Senior Motor Claims & Recovery Officer
RAK insurance
07.2014 - 09.2016
Bachelor of Commerce - Risk, Audit & Finance
karachi University
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