Insurance Manager

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 :

1. 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.

2. 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.

3. Review potential risk, recommend coverages and ensure adequate coverage based on the budget, project schedule, etc.

4. Coordination with valuers for asset valuation and evaluating the adequacy of the valuation of assets as per the general norms of insurers.

5. As per the requirement of management, Inviting Quotes from Insurance Companies.

6. Negotiation with insurers on final renewal premium, terms, conditions & clauses to be incorporated under the policy.

7. Checking of policy documents for any irregularities in policy terms, conditions, clauses, warranties, exclusions, deductibles, etc.

8. Meeting officials of insurance companies & intermediaries for premium negotiations and claims settlements.

9. Ensuring timely renewals and follow-up on policy documents & pending claims

10. Coordination with inter-departments, respective site teams for the details and documents required for policy renewals / new placements and claims handling.

11. One-point contact for Claims management (from intimation to settlement).

12. Meeting representatives of insurers, brokers, & surveyors for required documentation.

13. Timely submission of claim-related documents, follow-up with insurance companies and ensuring that the claims get settled on time with their optimum value.

14. Preparation and presentation of monthly and annual budgets for insurance premiums across various operational and under-construction projects.

15. Maintenance of all insurance policies, records and Claims log.

16. Preparation and presentation of Insurance MIS to the management from time to time.

17. Must have worked in large manufacturing companies (ideally from the Iron / Steel industry.

Experience :

At least 16+ Yrs of experience in handling India and Global Insurance portfolio for la arge Manufacturing Company (Iron / Steel / Renewable Energies), etc.

Qualifications :

1. Must be a graduate / postgraduate 2. Licentiate from Insurance Institute of India (LIII) 3. Associate from Insurance Institute of India (AIII)

Skills Required

Claims Management