Senior Executive - Insurance

Job Description

OVERALL PURPOSE AND OBJECTIVE OF THIS POSITION

To manage and coordinate the Company's insurance portfolio across projects. The incumbent shall ensure adequate insurance coverage for assets, projects, equipment, employees and liabilities, coordinate with insurance companies, brokers and surveyors, facilitate policy renewals and claims management and ensure compliance with contractual and statutory insurance requirements applicable to infrastructure and construction projects.

MAJOR RESPONSIBILITIES AND FUNCTION OF THIS POSITION

Insurance Portfolio Management

• Manage all insurance policies viz. Group Medical Insurance, Group Personal Accident, Group Term Life Insurance, Assets Insurance, etc.
• Maintain an updated database of insurance policies, coverages, endorsements, renewals and premium schedules.
• Monitor policy expiry dates and ensure timely renewals without any coverage gaps.

Coordination and Stakeholder Management

• Liaise with insurance companies, brokers, consultants, legal teams, project teams and lenders.
• Coordinate with site personnel for collection of insurance-related information and documentation.
• Assist during audits, lender reviews and due diligence exercises pertaining to insurance matters.

Compliance and Reporting

• Ensure compliance with insurance obligations under concession agreements, financing agreements and contractual requirements.
• Prepare insurance MIS reports, claim status reports and renewal trackers.
• Maintain proper records of policies, claims, premiums and correspondence for audit purposes.
• Maintain accurate insurance records and archives in physical and electronic formats.

Documentation and Administration

• Review policy wordings, endorsements and insurance certificates.
• Ensure issuance and distribution of insurance certificates to relevant stakeholders.
• Maintain accurate insurance records and archives in physical and electronic formats.

COMPETENCIES REQUIRED FOR THE JOB

Core Competencies:

• Integrity & Accountability - Demonstrates ethical conduct, confidentiality and responsible management of company resources.
• Result Orientation & Execution - Takes ownership of renewals, claims and compliance requirements and ensures timely completion.
• Communication & Coordination - Effectively communicates with insurers, brokers, project teams and senior management.

Functional Competencies:

• Insurance Management - Knowledge of CAR, EAR, Property, Liability, Marine Transit, Motor, Employee Benefits and other insurance products relevant to infrastructure projects.
• Claims Handling - Ability to process and manage insurance claims, coordinate with surveyors and achieve effective claim settlements.
• Stakeholder Management - Ability to build and maintain effective relationships with insurers, brokers, lenders, consultants and project stakeholders.