Head - Insurance

Head - Insurance

The incumbent will be overall responsible for all insurance related activities to lead the insurance team including but not limited to the following :

- Assess, identify, and quantify the various risks associated on a continuous basis.

- Design a comprehensive insurance program to ensure that all risks are covered appropriately.

- Interact with Insurance Broker for the design and placement of the insurance program.

- Co-ordinate with various internal departments to obtain the necessary information required for the placement on an ongoing basis for any changes.

- Ensure that the terms obtained on competitive basis are overall best suited for the business requirements.

- Ensure that the insurance coverage is always adequate and continues without any breaks or gap.

- Follow-up and obtain the documentation after the placement and verify that everything is in order and as per the requirement.

- Arrange for endorsement(s) as and when required for any changes in the insurance program.

- In case of any loss(es), ensure prompt reporting of the same to the Insurer / Insurance Broker, follow-up with Surveyor for survey, co-ordinate for submission of documents to the Surveyor / Insurer, negotiate with them for the early settlement of the claim(s). Further, to ensure a proper system is put in place in this regard.

- Claims management by timely action for loss minimization, analyze the actual cause of loss, recover the loss under terms of the insurance policy.

- To submit periodic MIS to the Management on the risks covered, adequacy of coverage, pending claims, etc.

- To co-ordinate on renewal of D&O and EPLI Policy, and other employee related insurance policies in co-ordination with HR.

- To keep abreast of the developments in Insurance market, risks cover, international sanctions, etc.