Karamtara - Insurance Manager

Karamtara Engineering Ltd

Karamtara Engineering Ltd, Mumbai, is currently looking for a Manager Insurance for its Mumbai office location and the candidate (only from the Manufacturing Industry) should be responsible for :

• Managing the entire group & global insurance activities pertaining to Assets, Liabilities, Vehicles, Marine, operational assets and projects through insurers by ensuring timely insurance cover and payment of renewal premiums.
• Handling entire Insurance portfolio of the company and its subsidiaries which includes various types of insurances like Fire, Burglary, Machinery Breakdown, Electronic Equipment, IAR, Motor Insurance, Liability Insurance (CGL, D&O, Cyber Security & Crime Insurances), Contractors All Risk (CAR) Insurance, Money Insurance, Fidelity Guarantee Insurance, WC etc.
• Review potential risk, recommend coverages and ensure adequate coverage based on the budget, project schedule, etc.
• Coordination with valuers for asset valuation and evaluating the adequacy of the valuation of assets as per the general norms of insurers.
• As per the requirement of management, Inviting Quotes from Insurance Companies.
• Negotiation with insurers on final renewal premium, terms, conditions & clauses to be incorporated under the policy.
• Checking of policy documents for any irregularities in policy terms, conditions, clauses, warranties, exclusions, deductibles, etc.
• Meeting officials of insurance companies & intermediaries for premium negotiations and claims settlements.
• Ensuring timely renewals and follow-up on policy documents & pending claims.
• Coordination with inter-departments, respective site teams for the details and documents required for policy renewals / new placements and claims handling.
• One-point contact for Claims management (from intimation to settlement).
• Meeting representatives of insurers, brokers, & surveyors for required documentation.
• Timely submission of claim-related documents, follow-up with insurance companies and ensuring that the claims get settled on time with their optimum value.
• Preparation and presentation of monthly and annual budgets for insurance premiums across various operational and under-construction projects.
• Maintenance of all insurance policies, records and Claims log.
• Preparation and presentation of Insurance MIS to the management from time to time.
• Must have worked in large manufacturing companies (ideally from the Iron / Steel At least 16+ Yrs of experience in handling India and Global Insurance portfolio for la arge Manufacturing Company (Iron / Steel / Renewable Energies), Must be a graduate / postgraduate

(ref : iimjobs.com)