Karamtara - Insurance Manager

Karamtara Engineering Ltd

Karamtara Engineering Ltd, Mumbai, is currently looking for a Manager Insurance for its Mumbai office location and the candidate (only from the Manufacturing Industry) should be responsible for:

- Managing the entire group & global insurance activities pertaining to Assets, Liabilities, Vehicles, Marine, operational assets and projects through insurers by ensuring timely insurance cover and payment of renewal premiums.

- Handling entire Insurance portfolio of the company and its subsidiaries which includes various types of insurances like Fire, Burglary, Machinery Breakdown, Electronic Equipment, IAR, Motor Insurance, Liability Insurance (CGL, D&O, Cyber Security & Crime Insurances), Contractors All Risk (CAR) Insurance, Money Insurance, Fidelity Guarantee Insurance, WC etc.

- Review potential risk, recommend coverages and ensure adequate coverage based on the budget, project schedule, etc.

- Coordination with valuers for asset valuation and evaluating the adequacy of the valuation of assets as per the general norms of insurers.

- As per the requirement of management, Inviting Quotes from Insurance Companies.

- Negotiation with insurers on final renewal premium, terms, conditions & clauses to be incorporated under the policy.

- Checking of policy documents for any irregularities in policy terms, conditions, clauses, warranties, exclusions, deductibles, etc.

- Meeting officials of insurance companies & intermediaries for premium negotiations and claims settlements.

- Ensuring timely renewals and follow-up on policy documents & pending claims.

- Coordination with inter-departments, respective site teams for the details and documents required for policy renewals/new placements and claims handling.

- One-point contact for Claims management (from intimation to settlement).

- Meeting representatives of insurers, brokers, & surveyors for required documentation.

- Timely submission of claim-related documents, follow-up with insurance companies and ensuring that the claims get settled on time with their optimum value.

- Preparation and presentation of monthly and annual budgets for insurance premiums across various operational and under-construction projects.

- Maintenance of all insurance policies, records and Claims log.

- Preparation and presentation of Insurance MIS to the management from time to time.

- Must have worked in large manufacturing companies (ideally from the Iron / Steel industry.

Experience:

- At least 16+ Yrs of experience in handling India and Global Insurance portfolio for la arge Manufacturing Company (Iron / Steel / Renewable Energies), etc.

Qualifications:

- Must be a graduate / postgraduate