Job Summary

• Insurance support to business units for credit insurance coverage for Open credit customer in assigned areas across the Group.
• Effective coordination with Insurers/ BU’s
• Facilitate timely renewal of insurance policies at optimum terms. 
• Timely and effective handling of overdue reporting, claim filing and settlement.
• Provide timely information and MIS
• Organization of awareness sessions.

Roles & Responsibilities

• Ensure 100% insurance cover on specified policies for eligible customers on timely basis through reputed insurers.
• Maintain data of various policies, claims, discounts, renewal information for current and previous years. 
• Preparation of quote slips and renewal recommendation.
• Claim filing, document analysis and regular follow-up with BUs, insurers and surveyors to ensure timely claim settlement.
• Provide inputs and guidance to BU's through regular visits, meetings for claims and help improving risk profile. 
• Timely reconciliation/settlement of balances and filing of requisite declarations (stocks, profit, marine and fixed assets).
• Preparation of monthly MIS and helping in issuance of quarterly report to BUs on sums insured and status of claims.
• Coordination with insurers. 

Skills

KPIs

• Insurance management: 100% insurance cover for all assets.
• Claim settlement within 30 days of eligibility
• Awareness sessions.
• Timely reconciliation, settlement of balances filing of overdue claims. timely updating claim position with insurers. 
• Maintaining updated policy and other key records for 5 years. 
• Insurance & claims guidance: providing inputs/guidance to BUs through regular interaction/visits.
• Checking of policies/endorsements.
• Monthly MIS

Work experience requirement

• Bachelor's degree in finance or any functional stream
• 3-7 years of experience in reputed Credit insurance company

Qualification

• Knowledge of Credit Insurance coverage, policies/ market.
• Knowledge of handling all types of claims. 
• Strong interpersonal skills in dealing with Units/Insurers, Risk, Underwriting and claim teams.
• Data analytical skills

Competencies

Communicating effectively

Self and Team Management

Planning & Decision Making

Customer Centricity

Ownership & Result Orientation

Claims Management

Risk Management

Regulatory Framework Impacting Insurance

Regulatory Compliance (internal & external)

Insurance Policy Clauses