Manager Insurance (Procurement),Mumbai

Job Description :
Roles and Responsibilities Basic Function
The position is responsible for driving the insurance activities for the organization such
that all key transactions and shipments / customer delivery dispatches are covered
against any loss or damage. The role holder will also play a key role in heading any
claims raised against the insurance companies.
Ensuring of adequate risk covered in respect of Plant, Assets / Property,
Shipments and People
Insurance paperwork and claims settled (In favor of the organization)
Placement and cost management of different insurances / insurance agencies
Identify the important assets required an insurance coverage in coordination with
CPO and design a SOP procedure for the same
Set and review insurance policies on a regular basis in consultation with the CPO
Coordinate and collaborate with HR team to help them design the insurance
policy for the employees
Identifying various plans under different insurance companies and help the
company in selecting the insurance vendor
Ensure placement & Management of Insurance Policy
Coordinating Risk Assessments, Risk Inspections, Valuation of the critical sites,
Risk Profiling
Responsible for getting the risk assessments, risk inspections & valuations
coordination with the internal stake holders and Consultants/Insurers
Follow up with loss assessors & insurance companies for fair and timely
settlement of claims
Identify and analyze risks associated with policies and ensure minimum risk of
financial loss
Engage with team across other functional areas of the company, primarily with
Operations and SCM Teams to gain inputs regarding the issues faced in loss
identification and reporting
Assist the team during claims management
Support in collection of appropriate documentation and evidence for effective
management of all insurance claims
Analyze statistical data, such as mortality, accident, sickness, disability, and
retirement rates and construct probability tables to forecast risk and liability for payment
of future benefits in consultation with the HR team
Help determining the premium rates, providing maximum benefit for the
Ensure timely payment of paying commissions and brokerage fees and avoid any
charges or penalties against delayed payments
Ensure awareness is created about insurance coverages and the timelines in
which these need to be reported
MIS and Reporting -
Create and modify procedures and documents related to insurance in consultation
with the vendors and insurance company
Manage insurance data for reports.
Ensure that timely information are sent to the Insurance Companies for any
changes in the Insurance policies and get the endorsements done in time
recording claims reserves
mumbai, MH, IN