Insurance Manager

Job Description :

- Evaluate business operations to identify potential insurable risks and recommend appropriate insurance programs to safeguard organizational assets and liabilities.

- Review contractual insurance requirements in collaboration with the Contracts team and provide recommendations to ensure adequate coverage and compliance with contractual obligations.

- Partner with Legal, Business Development, and Commercial teams to assess insurance requirements for new business opportunities, acquisitions, and strategic initiatives, while advising on suitable risk transfer solutions.

- Administer the organization's operational insurance portfolio, including policy placement, renewals, endorsements, and negotiations with insurers and brokers to secure competitive terms and premiums.

- Manage corporate insurance programs covering property, asset, liability, engineering, fidelity guarantee, money, workers' compensation, group life, personal accident, contents, cyber, and other commercial insurance policies.

- Coordinate the arrangement of project-specific insurance covers where required under contractual agreements, ensuring policies are placed on time and remain compliant throughout the project lifecycle.

- Assess insurance requirements for various business units and subsidiaries, recommending appropriate insurance solutions based on operational needs and market best practices.

- Oversee the complete claims management process, working closely with internal stakeholders, insurers, brokers, and loss adjusters to facilitate timely investigation, settlement, and closure of claims.

- Ensure insurance policies, endorsements, renewals, and premium payments are accurately processed and maintained within the insurance management system.

- Monitor policy registers, renewal schedules, claims records, and insurance databases to maintain accurate documentation and ensure timely action on upcoming renewals and obligations.

- Prepare insurance reports, claims analysis, renewal summaries, and management information to support decision-making and regulatory compliance.

- Assist in the preparation, monitoring, and control of the annual insurance budget while identifying opportunities to optimize insurance costs without compromising coverage.

- Develop and maintain effective relationships with insurers, brokers, consultants, and external service providers to ensure efficient delivery of insurance services and favorable commercial outcomes.

- Support internal audits and compliance reviews by maintaining complete insurance documentation and ensuring adherence to corporate governance and regulatory requirements.

- Stay informed of insurance market developments, emerging risks, and regulatory changes, recommending enhancements to existing insurance programs where appropriate.

- Work collaboratively with Finance, Procurement, HR, Operations, Legal, and Commercial teams to provide insurance guidance and support effective enterprise risk management across the organization.