Insurance Specialist

Job Summary:

The Insurance Executive will be responsible for managing and optimizing the company's insurance portfolio, ensuring adequate coverage for all assets and operations, and handling claims efficiently. This role requires a strong understanding of various insurance products, regulatory compliance, and excellent negotiation and communication skills.

Key Responsibilities:

• Insurance Portfolio Management:
• Assess the company's insurance needs across all business segments (vehicles, property, liability, employee benefits, etc.).
• Research, evaluate, and recommend appropriate insurance policies from various providers to ensure comprehensive coverage at competitive rates.
• Negotiate policy terms, conditions, and premiums with insurance companies and brokers.
• Manage policy renewals, endorsements, and cancellations.
• Maintain accurate records of all insurance policies, premiums, and claims.
• Claims Management:
• Act as the primary point of contact for all insurance claims (e.g., property damage, vehicle accidents, liability claims).
• Assist in the timely and accurate filing of claims, gathering necessary documentation, and liaising with adjusters and legal teams.
• Monitor claim status and ensure prompt and fair settlement.
• Risk Management & Compliance:
• Identify potential risks and vulnerabilities within the company's operations and advise on strategies to mitigate them through insurance or other means.
• Ensure compliance with all relevant insurance laws, regulations, and company policies.
• Stay updated on industry trends, new insurance products, and regulatory changes.
• Vendor Management:
• Cultivate and maintain strong relationships with insurance brokers, agents, and insurance company representatives.
• Evaluate the performance of insurance service providers.
• Reporting & Analysis:
• Prepare and present reports on insurance costs, claims performance, and risk exposure to management.
• Analyze data to identify areas for cost reduction and efficiency improvement in insurance management.
• Internal Liaison:
• Collaborate with various departments (e.g., Operations, Finance, Legal) to understand their insurance needs and provide support.
• Educate employees on insurance procedures and best practices.

Qualifications:

• Bachelor's degree in Business Administration, Finance, Insurance, or a related field.
• Proven experience (X years) in insurance management, preferably within the transport, or related industries.
• In-depth knowledge of various insurance products (e.g., property, casualty, motor, general liability, professional indemnity, employee benefits).
• Strong understanding of insurance laws and regulations in India.
• Excellent negotiation, communication (written and verbal), and interpersonal skills.
• Analytical mindset with strong problem-solving abilities.
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint).
• Ability to work independently and as part of a team.

Job Type: Full-time

Pay: ₹20,000.00 - ₹25,000.00 per month

Benefits:

• Health insurance
• Provident Fund

Schedule:

• Day shift

Work Location: In person

Speak with the employer
+91 9311968731