Specialist -Cyber insurance claims

ACKO is India’s first and only fully-digital Insurtech (product) company to have taken insurance by storm. You might have seen our cool ads or are already a customer and we hope you have noticed how we are rewriting the rules of the insurance game constantly and persistently.

Based out of Bangalore, we are solving for the Indian market. But we are a part of a global wave of insurtech startups such as ZhongAn in China , Oscar, Lemonade, Metromile in the US, that are known to succeed owing to their business models and technology.

We are a unicorn backed by a slate of marquee investors like Binny Bansal, Amazon, Ascent capital, Accel, SAIF, Catamaran, General Atlantic and Multiples. In only four years since our inception and operations, our products have reached ~75M unique users. We have partnered with some of the biggest names of the digital ecosystem such as Amazon, Ola, RedBus, Oyo, Lendingkart, ZestMoney, GOMMT group etc.

At ACKO, job roles are focused at impact and we’re here to transform the way the industry operates. Innovation drives us and our products, and we are poised to disrupt insurance, powered by our pioneering products. We have changed the landscape of this age old sector in a growing economy like India and have miles to go from here.

After having crossed the $1B valuation mark, our eyes set on even bigger milestones. If you think we’re just about growth and numbers, employee wellbeing lies at the core of all our programs and policies. We are a regular ‘Great Place to Work’ winner and consistently feature on Linkedin’s list of top startups. Currently 1000 strong, we are hiring across all functions.

Job Description: Senior Associate/Specialist – Cyber Insurance Claims

Role Overview:

The Senior Associate/Specialist – Cyber Crime Insurance Claims will manage and resolve claims related to cybercrime incidents, including digital theft, identity theft, data breaches, and more. The role requires a professional with 2-3 years of experience handling cyber insurance claims and strong technical, analytical, and communication skills. The candidate will work closely with internal teams, external stakeholders, and customers to ensure efficient claim processing, policy interpretation, and resolution. The role also involves maintaining compliance with regulatory requirements and enhancing customer experience in handling claims for various cyber insurance coverage areas.

Key Responsibilities:

• Claims Management:
• Investigate, assess, and process cybercrime insurance claims in accordance with company policies and procedures.
• Manage claims related to Digital Theft of Funds, Identity Theft, Cyber Extortion, Online Shopping & Sales Fraud, Cyberbullying & Stalking, and other covered incidents.
• Review claim submissions, supporting documents, and policy terms to validate coverage and ensure proper resolution.
• Conduct root-cause analysis of cyber incidents, including ransomware attacks, data breaches, phishing cases, and malware infections, to determine claim eligibility.
• Customer Assistance:
• Act as the primary point of contact for clients during the claims process, providing clear and professional communication regarding claim status, documentation, and resolution timelines.
• Assist insured parties with the financial and procedural aspects of claims, such as costs related to Data Restoration & Malware Decontamination, Replacement of Hardware, and Social Media Liability.
• Provide guidance to customers affected by cyber extortion, including coordination with professional support teams for ransom negotiation or payment handling.
• Technical Analysis & Risk Assessment:
• Work with IT and cybersecurity teams to analyze technical reports related to breaches or incidents to identify liability and loss coverage.
• Evaluate claim documentation for consistency with regulatory and internal compliance requirements.
• Collaborate with technical experts to assess damages in cases involving Network Security & Privacy Breach incidents.
• Stakeholder Collaboration:
• Coordinate with legal teams, underwriters, and external vendors, including forensic investigators and response teams, to ensure seamless claim handling.
• Liaise with reinsurers and provide comprehensive updates on claims to ensure alignment with policy terms.
• Partner with surveyors and compliance teams to evaluate complex claims related to identity theft, cyberbullying, and online fraud.
• Regulatory & Compliance Adherence:
• Ensure claims handling adheres to industry regulations, data protection laws, and company guidelines.
• Conduct regulatory circular reviews to identify key compliance and procedural updates that impact claims management.
• Stay updated on cybersecurity trends, cybercrime regulations, and emerging threats to enhance claims-handling expertise.
• KYC and Documentation Compliance:
• Verify and maintain KYC (Know Your Customer) documents for insured parties as part of the claims process.
• Ensure all claims-related documentation is accurate, up-to-date, and compliant with regulatory requirements.
• Reporting & Documentation:
• Maintain detailed records of claim investigations, decisions, and settlements.
• Prepare and submit periodic claims reports for internal and external stakeholders.