1. Role Objective

The Manager Corporate Insurance & Risk Management will be responsible for the complete management of the Company's insurance portfolio, covering identification of insurance requirements, obtaining quotations, policy placement, documentation, renewals, endorsements, claims management and settlement. The person will act as the single point of contact for all insurance-related matters of the Company and coordinate with insurance companies, brokers, surveyors, employees, project teams, vendors, clients and internal departments.

1. Insurance Portfolio Management

Manage and monitor all insurance policies required by the Company, including, but not limited to:
- Standard Fire & Special Perils / Property Insurance
- Burglary / Theft Insurance
- Machinery Breakdown Insurance
- Electronic Equipment Insurance
- Contractor's Plant & Machinery Insurance
- Contractor's All Risk (CAR) / Erection All Risk (EAR) Insurance
- Marine / Transit Insurance
- Goods-in-Transit Insurance
- Group Health / Mediclaim Insurance
- Group Personal Accident Insurance
- Employees' Compensation / Workmen Compensation Policy
- Public Liability Insurance
- Professional Indemnity Insurance, wherever applicable
- Directors & Officers (D&O;) Liability Insurance
- Motor / Commercial Vehicle Insurance
- Fidelity Guarantee / Crime Insurance
- Cyber Insurance, wherever applicable
- Keyman / Key Person Insurance
- Project-specific insurance required under contracts/tenders
- Any other insurance required for the Company's business operations.

1. New Insurance Policies

- Understand the Company's business activities, projects, assets and contractual obligations and identify appropriate insurance requirements.
- Collect necessary information and documents from concerned departments for obtaining insurance coverage.
- Prepare RFQs and obtain quotations from multiple insurance companies/brokers.
- Compare premiums, deductibles, exclusions, warranties, coverage limits and other policy conditions.
- Prepare comparative statements and recommendations for management approval.
- Negotiate with insurers/brokers for competitive premiums and improved coverage.
- Ensure policies are issued with correct company name, locations, asset values, sums insured, beneficiaries and other particulars.
- Verify policy documents immediately after issuance and arrange corrections/endorsements wherever required.

1. Insurance Renewals

- Maintain a Central Insurance Register containing complete details of every insurance policy.
- Maintain an insurance renewal calendar with advance alerts.
- Initiate renewal process at least 30–60 days before policy expiry.
- Review adequacy of existing coverage before every renewal.
- Obtain revised quotations and negotiate premiums and terms.
- Ensure that no policy expires unintentionally and there is no break in essential insurance coverage.
- Update sums insured based on additions/deletions of assets, employees, vehicles, machinery and projects.

1. Claims Management

Take complete ownership of insurance claims from occurrence of the incident until receipt of claim proceeds.

Responsibilities include

- Immediately notify the insurer/broker regarding claim events.




- Coordinate with the concerned project/site/department to collect evidence and documents.
- Arrange photographs, invoices, FIRs, incident reports, repair estimates, stock statements and other supporting documents wherever applicable.
- Coordinate with insurance surveyors/loss assessors.
- Respond to queries raised by insurers and surveyors.
- Submit claim forms and supporting documents within prescribed timelines.
- Maintain regular follow-up with insurers/brokers until settlement.
- Review deductions/rejections proposed by insurers and provide necessary clarification/support.
- Escalate delayed or disputed claims to management.
- Maintain a Claims Register showing claim amount, admitted amount, settlement amount, outstanding amount and status.
- Prepare periodic reports on pending and settled claims.

1. Project & Contract Insurance

- Review work orders, purchase orders, tenders and contracts for insurance requirements.
- Identify insurance obligations before commencement of projects.
- Coordinate for CAR, EAR, Workmen Compensation, Public Liability, Plant & Machinery and other project-specific policies.
- Ensure client/principal is included as beneficiary/co-insured wherever contractually required.
- Arrange policy extensions when project completion dates are extended.
- Provide insurance certificates/policy copies to clients and tendering authorities.

1. Employee Insurance

- Coordinate with HR for addition and deletion of employees under Group Mediclaim, Group Personal Accident and other employee policies.
- Coordinate employee/family hospitalization and reimbursement claims with insurers/TPAs.
- Monitor claim settlement and resolve issues relating to employee insurance.
- Conduct periodic review of employee insurance coverage and utilization.

1. Asset & Machinery Insurance

- Coordinate with Accounts, Projects, Procurement and Administration departments to maintain details of insured assets.
- Ensure newly purchased machinery, vehicles and other significant assets are added to relevant policies.
- Ensure disposed/sold assets are removed wherever necessary.
- Periodically review sums insured to avoid under-insurance.
- Maintain location-wise insurance coverage for offices, warehouses, project sites, factories and other establishments.

1. Marine & Transit Insurance

- Manage marine/transit policies for movement of materials, machinery and equipment.
- Ensure adequate declaration/open policy limits are available.
- Coordinate transit damage/loss claims.
- Review annual transit values and ensure appropriate insurance limits.

1. Insurance Documentation & MIS

Maintain centralized digital and physical records of:
- Insurance policies
- Policy schedules
- Endorsements
- Premium invoices
- Premium payment records
- Insurance certificates




- Claim documents
- Surveyor reports
- Claim settlement letters
- Renewal quotations
- Comparative statements
- Correspondence with insurers/brokers
- Insurance-related contractual requirements

Prepare a Monthly Insurance MIS for management covering:

- Active policies
- Policies due for renewal
- Premiums paid
- Total sum insured
- New policies taken
- Pending claims
- Claims settled
- Claims rejected/disputed
- Outstanding documentation
- Major insurance risks requiring management attention

1. Risk Management

- Periodically assess insurance coverage against the Company's changing business activities.
- Identify uninsured or under-insured risks.
- Conduct periodic insurance gap analysis.
- Coordinate risk inspections by insurers and surveyors.
- Ensure compliance with risk improvement recommendations wherever practical.
- Advise management regarding new insurance products relevant to the Company's operations.
- Recommend appropriate deductibles and coverage limits considering risk exposure and premium costs.

1. Coordination

The person will regularly coordinate with: Internal: Management, Finance, Accounts, HR, Administration, Procurement, Projects, Legal, Stores, Logistics and Site Teams.

External: Insurance companies, insurance brokers, TPAs, surveyors/loss assessors, banks/financial institutions, clients and other relevant agencies.

1. Key Skills Required

- Solid knowledge of corporate/general insurance
- Excellent understanding of policy wording, exclusions and endorsements
- Strong insurance claims handling experience
- Ability to negotiate with insurance companies and brokers
- Knowledge of project and construction-related insurance
- Good documentation and record-management skills
- Strong Excel and MIS capabilities
- Ability to coordinate with multiple departments and project sites
- Commercial and analytical approach to insurance coverage
- Strong follow-up and communication skills

1. Key Performance Indicators (KPIs)

Performance may be measured based on:
- 100% timely renewal of insurance policies
- Zero unintended lapse of critical insurance coverage
- Timely reporting and submission of insurance claims
- Claim settlement ratio and recovery of eligible claims
- Reduction in average claim settlement time
- Optimization of insurance premiums without compromising essential coverage
- Identification and closure of insurance coverage gaps
- Accuracy of insurance documentation
- Timely addition/deletion of assets, employees and project locations
- Monthly reconciliation of pending insurance claims
- Timely submission of management MIS
- Compliance with contractual/project-specific insurance requirements

1. Key Responsibility Statement

The Manager – Corporate Insurance & Risk Management shall be the single-point owner for the Company's entire insurance lifecycle — identification of risk, policy selection, quotation and negotiation, placement, documentation, endorsements, renewals, claims, settlement and insurance MIS — ensuring that the Company's employees, assets, projects, materials and business risks are adequately protected at all times.

📌 Junior Manager (Chennai)
🏢 Gorantla Geosynthetics
📍 Chennai