Reinsurance-Marine & Liability(Placement)

Job Responsibilities:

Financial

Budget for the vertical at the end of the 3rd quarter every year

Achieve reinsurance brokerage budgets

Build relations to explore new markets & opportunities for expansion/growth

Improve productivity and resource utilization to impact profitability.

Keep track of Reinsurer ratings so as not to impact profitability

Generate enquiries through liaison with insurance companies

Business Process

Analyse FAQ Requirements from Risk point of view as well as PML

Prepare Slips and structure for Treaty/Facultative RI requirements

Compare RI Quotes and terms vis--vis RFQ placements

Ensure successful placement of FAQ proposals with rated reinsurers in a short span

Ensure team gets quotes from reinsurers for various lines of business

Ensure SARB is always updated accurately

Ensure Complete documentation as per SOP immediately after each placement

Follow IRDA regulations with respect to reinsurance placements

Manpower planning should always be in line with the business requirements and the team structure should always operate with in KRA/KPI

The team should always be in touch with the underwriters/BDs so as to assess the RI requirements.

Assisting in the negotiation and settlement of Claims

Coordination with GIC for their participation in reinsurance treaties and facultative contracts

Self-updated/ Continuous monitoring and tracking of various developments in Global and Local market on competition to capitalize on the opportunities available.

Customer

Liaise with insurance companies for enquiry and business expansion

Liaise with reinsurers for placement of business through worldwide networking and database analysis

Ensure timely renewal of all contracts in the portfolio w.r.t. treaty, International business and inward reinsurance

Ensure proper and timely customer service (internal & external) so that there is NIL escalation

Submit following MIS to management within specified timelines:

o Enquiry MIS

o Reinsurance market database MIS including solvency ratings of individual reinsurers

o Broker MIS

o Business MIS

o Claims MIS

People Growth

Always keep self-updated with latest variations in product offerings and reinsurance buzz

Attend seminars and networking sessions to upgrade competencies

Ensure that team members get adequate timely training as and when required

Required Candidate profile

a) Functional Competencies Demonstrates domain knowledge in own area of operation

Understands product offerings

Understands service standards as per Organisation ethos

Learns continuously and keeps self-updated

b ) Leadership Competencies:

Relationship Building

Networks effectively with both external and internal customers

Focuses on building long term sustainable relationships

Delivers on commitment every time

Creative & Analytical Problem Solving Understands the strategic objectives of the Organisation, unit, function

Collates data and analyses them objectively

Takes objective decisions based on data to achieve the strategic objective of the Organisation

Goes the extra mile to achieve creative solutions

Customer Focus Designs solutions that meet the requirements of the customer (external/ internal)

Demonstrates a sense of urgency to resolve all external and internal customer concerns and responds to queries and requests within defined timelines and processes

Educates customers (external/ internal) about changes in processes, policies and offerings

Creates long term relationships with customers (external/ internal) through continuous interface

Obtains customer (external/ internal) feedback to improve processes

Promotes loyalty and converts customers to brand ambassadors

Achieves customer delight with respect to both internal and external customers

Is sensitive to code of conduct in office and customer establishments

Perseverance Makes all possible effort to understand the viewpoints of external and internal customers

Takes all possible steps to resolve issues

Understands the importance of deadlines, proactively remove roadblocks and deliver as per requirement

Tries alternatives to achieve target

Does not give up in the face of adversity

Explains own point of view assertively to get necessary support and approval

Is patient and persistent towards follow up on all leads and prospects generated during the past towards new client acquisition

Achievement Orientation Understands the strategic objectives of the Organisation, unit, function

Aligns individual and team targets with strategic goals

Plans and deploy appropriate resources to meet targets in the short and long term

Goes the extra mile to achieve targets as per committed timelines and enable the team to do so

Achieves and motivates excellence irrespective of circumstances

Shares best practices across businesses

Benchmarks with the best and continuously raises the bar

Upgrades competencies of self and team to achieve excellence