SVP/VP - Insurance SME - Bank

We are hiring for our client in private sector banking :

The position is part of the Strategic Procurement Unit and will support Pan Bank

- Review of Insurance coverage, Policy sourcing and claim management

- Role requires strong collaboration with the key stakeholders to understand their requirement, recommend insurance coverage, identify suitable broker and insurance companies, float the requirement / RFQ, conduct negotiations on the coverages and finalize the same at optimal premium.

- Researches the insurance market for understanding, comparing and exploring alternate and better solutions

- Develops relationships with key / critical external partners in accordance with the organizational policies to ensure desired benefits, innovation and risk management is met

- Claims guidance - provide timely and accurate guidance on the claim procedure

- Review the suitability of the claims for liability policies, verify information, provide guidance and ensure timely processing of the Claims amount by the Insured

- Collaborate with relevant stake holders to provide key and correct RBI update on requirements which is requested

- Define and streamline process for Broker empanelment, Policy sourcing and claim management

Key Skills: 

- Person should have a minimum of 12 years of relevant experience in Insurance product and/ or sourcing of Insurance policies for Banks.

- Knowledge and experience of entire portfolio Liability Insurance policies within Banking Industry is must

- Person should have strong understanding about the commercial terms and Insurance & Re-Insurer market

- Post Graduate, preferably with Management degree or relevant Professional certification

- Previous experience in Banking industry is desirable