Insurance Portfolio Administrator

Designation : Assistant Manager - Insurance (Manufacturing Sector)

Reporting : Finance Head

Location : HO - Mumbai

Key Responsibilities :

Insurance Policy Management :

Administer and manage the organization’s insurance portfolio including property, Stock Insurance, Marine Insurance, liability, workers' compensation.

Review and evaluate existing insurance policies to ensure they provide adequate coverage and are cost-effective.

Identify emerging risks and adjust coverage as needed to address new challenges in the manufacturing environment.

Claims Management :

Process and manage insurance claims, including liaising with insurers, and monitoring claim status.

Work closely with relevant departments to ensure that all incidents are reported promptly and accurately.

Coordinate with external adjusters and legal teams to ensure smooth claim resolution.

Liaison with Insurers & Brokers :

Maintain relationships with insurance brokers, agents, and underwriters.

Negotiate insurance terms, premiums, and conditions to secure the best possible coverage and rates.

Prepare and submit detailed reports and documentation to insurers to obtain competitive quotes.

Compliance & Regulatory Requirements :

Ensure compliance with all local, national, and international regulations related to insurance coverage in the manufacturing industry.

Keep up to date with changes in industry-specific insurance regulations and update policies accordingly.

Budgeting & Reporting :

Assist in the preparation of annual insurance budgets and forecasts.

Provide regular reports on insurance costs, claims history, and risk management activities to management.

Monitor premiums and assess cost-saving opportunities without compromising on coverage.

Employee Insurance Programs :

Manage employee insurance benefits, including health, life, and disability insurance.

Coordinate with HR to ensure employees are informed about available insurance options and help with claims processes.

Educate employees on procedures for reporting incidents and claims.

Key Skills & Qualifications :

• Bachelor’s degree in Business Administration, Finance, Insurance, or related field.
• At least 5-7 years of experience in insurance management, preferably within a manufacturing or industrial setting. Not from Service Industry. Agency side will do.
• Strong knowledge of various insurance products, claims processes, and risk management.
• Excellent communication, negotiation, and interpersonal skills.
• Ability to analyse complex insurance documents and reports.

Proficiency in MS Office Suite (Excel, Word, PowerPoint)

Age : 30-35 years

Sector : Pharma, FMCG, Chemical, Manufacturing