Insurance Specialist

Job Title:

Location:

Experience: 8-12 Years of experience in

• Managing insurance for infrastructure, real estate, highways, or similar large asset-based organizations
• Prior experience in insurance placement, claims handling, and stakeholder management is essential

Qualifications:

• Graduate in any discipline with a professional qualification in Insurance (e.g., Associateship/Fellowship from Insurance Institute of India, IRDA-certified insurance professional)
• Preferred: Engineering/Finance background with insurance experience in infrastructure sector.

Required Skills:

• Strong understanding of infrastructure project risks and insurance solutions
• Familiarity with concession agreement and lender requirements on insurance
• Excellent negotiation and relationship management skills
• Proactive, detail-oriented, and process-driven approach
• Strong communication and coordination skills
• Ability to handle multiple stakeholders and manage tight timelines

Key Responsibilities:

1. Insurance Program Management

• Assess and design optimal insurance programs for operational SPVs and corporate-level risks.
• Ensure comprehensive coverage for project assets including Property Damage, Business Interruption, Terrorism, Third-party Liability, and Natural Calamities.
• Manage procurement and renewal of insurance policies in alignment with project requirements, lender covenants, and concession agreement obligations.
• Engage with insurance brokers, underwriters, and legal advisors to negotiate competitive terms and coverage.

2. Claims Management

• Lead the end-to-end claims process including timely intimation, documentation, coordination with surveyors, loss assessors, and insurers.
• Monitor progress of claim settlements and ensure maximum and timely recoveries.
• Escalate high-value or complex claims to senior management with strategic recommendations.

3. Risk Assessment & Gap Analysis

• Periodically assess insurable risks across SPVs and the Trust.
• Identify gaps in coverage or emerging risks and recommend suitable insurance products or risk transfer mechanisms.
• Stay updated on industry practices, regulatory developments, and market trends impacting infrastructure insurance.

4. Compliance & Documentation

• Ensure adherence to all regulatory, lender, and concessioning authority requirements related to insurance.
• Maintain comprehensive insurance records including policies, endorsements, claims history, and declarations.
• Support internal and external audits pertaining to insurance.

5. Stakeholder Coordination

• Act as the primary interface with insurance brokers, insurers, lenders, concessioning authorities, and internal teams for insurance-related matters.
• Conduct awareness sessions for project teams on insurance coverage, claim protocols, and risk mitigation.