Role & responsibilities
Financial
- Ensure renewal portfolio expansion wrt. general insurance through relationship building
- Achieve financial targets articulated in the strategic plans of the Organisation in terms of the brokerage earned by review of the coverages under existing policies and other areas of risk coverage
- Relationship building
- Ensuring retention of existing clients through relationship building and appropriate servicing
- Accompanying the business development team as and when required to provide technical support for new business acquisition
- Assistance in brokerage recovery in case finance department needs assistance
Business Process
- Collate existing data or client details (with or without policy)
- Close new business and renew policies of existing clients as per the structured process laid down by the company before expiry by ensuring the following activity
- o Fix risk inspection date and coordinate with clients to conduct the inspection
- o Coordinate with technical engineers for risk analysis on the basis of on ground situation (fire safety/ infrastructure etc.) and understand gaps in insurance coverage on the basis of inspection
- o Analyze gross block in client's books to estimate adequacy of coverage, obtain tentative valuation from the claims department/ registered value and ascertain gaps to be able to suggest scope for further offerings through a structured report
- o Prepare quote slip as well as premium schedule and technical schedule and float the same to insurance companies to obtain quotations and offerings
- o Follow up with the insurance companies to get quotation and analyse the merits on the quotations of the insurance companies
- o Prepare comparative sheet along with terms and conditions
- o Exhibit to client, quotes of only those insurance companies on whom Salasar has control and seek the client's choice
- o Prepare documentation for sign off by client once the client makes the choice and issues the premium cheque
- o Submit the document to the insurance company and submit acknowledgement sheet to client
- o Get 'held cover' letter/ cover note issued in the interim till the policy document is issued
- o Follow up with the insurance company for issue of the Policy document and hand over to the client
- o Check policy document against quote slip, identify gaps and ensure rectification with necessary follow up
- o Prepare offline policy with detailed fine print with reference of system generated policy, where required, obtain sign off by insurance company and hand over to client
- o Ensure all documents are filed manually and entry made in Saiba immediately after business is closed and cheque is received
- o Follow up with insurance companies for endorsements, in case of modifications or errors
- In case of existing clients, fix meeting with client at least one and a half month before renewal to initiate the process of renewal
- Ensure timely compliance of the following:
- o declaration of all types of policies (transit / marine policy and fire policy)
- o certificate verification
- o endorsement
- o refunds
- o other related matters
- Ensure immediate entries in the SAIBA in case business does not mature in spite of underwriting support
- Ensure Compliance with IRDA norms
Upload IAR (Industrial All-Risk policies) and endorsements, if any, in SAIBA
- Ensure accuracy of underwriting so that no claim gets jeopardized/repudiated because of underwriting flaws
Customer
- Conduct fortnightly meetings along with the claims department to get updates from the claims department on the status of claims in order to updated about the same before meeting client for renewals
- Make periodic client visits and ensure quarterly/ bi-monthly/ monthly visits by client servicing executives to reinforce relationship with existing clients and ensure repeat business
Prepare and submit daily activity report to the management
- Report month's business (MIS)
People Growth
- Acquire product knowledge and always keep self-updated with latest variations in product offerings
- Attend training sessions (external/ internal) and working on on-job assignments to implement new learning
- Obtain appropriate professional qualifications and certifications
- Conduct training sessions for marketing team as well underwriting and claims teams to build product knowledge across functions
- Set objectives, review and evaluate performance periodically and give feedback
- Review pending work and initiate action
Preferred candidate profile
- Should have experience in General Insurance Industry.
- good rapport building skills
- Broking industry preferred
