Manager/Senior Manager - Corporate Insurance (8-15 yrs)

Location: Andheri, Mumbai

Qualification : Graduate in any discipline; MBA/PGDM in Finance, Risk Management, or Insurance

Experience : 8-15 Years

Job Purpose :

The Sr. Manager / Manager - Corporate Insurance will be responsible for managing and optimizing the organization's insurance portfolio, including property, equipment, health, and vehicle insurance. This role involves ensuring comprehensive risk coverage, compliance with regulations, claims management, and cost optimization to protect the company's assets and employees effectively.

Roles & Responsibilities:

1. Insurance Policy Management:

- Develop, review, and manage all insurance policies, including property insurance, equipment insurance, health insurance, vehicle insurance, and other liability covers.

- Conduct regular evaluations of insurance needs based on asset additions, operational risks, and workforce changes.

2. Risk Assessment & Mitigation:

- Conduct periodic risk assessments to identify gaps in coverage and ensure adequate protection for the organization's assets and employees.

- Collaborate with cross-functional teams to understand risk exposures and implement appropriate risk mitigation strategies.

3. Claims Management:

- Handle and oversee the end-to-end insurance claim process, including documentation, submission, and follow-ups with insurance providers.

- Ensure timely settlement of claims and maintain detailed records for audit purposes.

4. Vendor & Stakeholder Management:

- Liaise with insurance companies, brokers, and consultants to negotiate optimal terms and premiums.

- Build strong relationships with external stakeholders to ensure efficient service delivery.

5. Cost Optimization:

- Regularly review and benchmark insurance policies to ensure competitive premiums without compromising coverage.

- Explore opportunities for consolidation of policies to achieve cost benefits.

6. Regulatory Compliance:

- Ensure compliance with all statutory and regulatory requirements related to insurance policies.

- Keep updated with changes in insurance regulations and incorporate necessary adjustments in policies.

7. Health & Group Insurance Programs:

- Oversee employee health and group insurance programs, ensuring smooth enrolments, renewals, and resolution of employee queries.

- Work closely with the HR department to address employee insurance-related concerns.

8. Reporting & Analysis:

- Prepare and present periodic reports on the company's insurance portfolio, claims status, and cost analysis to senior management.

- Provide insights on potential risks and recommend corrective actions.