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Cyient

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3.7

based on 4.4k Reviews

287 Cyient Jobs

Associate Director - Insurance Procurement

Cyient Limited

3.7

based on 4.4k Reviews

6-11 years

Hyderabad / Secunderabad

1 vacancy

Associate Director - Insurance Procurement

Cyient

posted 6d ago

Job Role Insights

Flexible timing

Key skills for the job

Costing Procurement Business Administration Risk Management Insurance Claims Continuous Improvement

+ 2 more

Job Description

We are seeking a highly skilled and experienced Senior Manager for Insurance Procurement to join our team. The ideal candidate will have a strong background in insurance procurement across geographies, negotiations, and vendor management. This role requires excellent communication skills, strategic thinking, and the ability to work collaboratively across departments to ensure the procurement of cost-effective insurance solutions that meet our organization s needs. Responsibilities:

Insurance Procurement: Lead the procurement process for all insurance products and services, including property and casualty insurance, liability insurance, and employee benefits packages.
Develop and maintain relationships with insurance brokers, carriers, and other vendors to ensure competitive pricing, comprehensive coverage, and excellent service levels.
Negotiate insurance contracts and terms to secure favorable pricing, coverage enhancements, and contractual terms that align with the organization s risk management strategy.
Collaborate with risk management and legal teams to assess the organization s insurance needs, identify potential risks, and recommend appropriate insurance solutions.
Review insurance policies, endorsements, and coverage limits to ensure they meet the organization s requirements and comply with regulatory standards.
Own end to end management of claims across liability policies, monitor and evaluate insurance claims, negotiate with carriers on claim amount, create necessary strategy and approach to address significantly complex claim scenarios, identify trends, and design, develop and implement strategies to mitigate future claims.
Stay abreast of industry trends, regulatory changes, and best practices in insurance procurement and risk management to ensure compliance and drive continuous improvement.
Prepare regular reports and presentations for senior management on insurance procurement activities, including cost analysis, coverage reviews, and risk assessments.

Qualifications:

Bachelor s degree in business administration, finance, risk management, or a related field. Master s degree or professional certification (e.g., CPCU, ARM) is a plus.
Minimum of 15 years of experience in insurance procurement, risk management, or related field, with a proven track record of success in negotiating insurance contracts and managing vendor relationships.
Strong understanding of insurance products, terminology, and industry standards.
Excellent analytical skills with the ability to evaluate complex insurance policies and identify cost-saving opportunities.
Exceptional communication and interpersonal skills, with the ability to effectively collaborate with internal stakeholders and external partners.

Employment Type: Full Time, Permanent

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