– Sr. Insurance Executive

Location- Mumbai-HO

Job Purpose To manage the organization's corporate insurance portfolio by ensuring adequate risk coverage, timely policy renewals, efficient claim management, regulatory compliance, and coordination with insurers, brokers, surveyors, and internal stakeholders to safeguard organizational assets and minimize financial risk.

Key Responsibilities

1. Insurance Portfolio Management

- Manage the organization's corporate insurance portfolio, including Property, Marine Cargo, Transit, Liability, Fire, Fidelity Guarantee, Cyber, Group Mediclaim, Group Personal Accident, and Directors & Officers (D&O;) insurance.
- Review insurance requirements based on business operations and recommend appropriate coverage.
- Ensure adequate insurance coverage for all organizational assets and operations.

2. Policy Administration

- Coordinate with insurance companies and brokers for policy issuance, renewals, endorsements, cancellations, and premium negotiations.
- Ensure timely renewal of all insurance policies to avoid coverage lapses.
- Maintain complete and updated records of insurance policies and endorsements.

3. Claims Management

- Handle end-to-end insurance claim processing from claim notification to final settlement.
- Coordinate with internal departments for claim documentation and evidence collection.
- Liaise with insurers, brokers, surveyors, and legal teams for timely claim resolution.




- Monitor outstanding claims and ensure closure within agreed timelines.

4. Risk Assessment & Compliance

- Identify business risks and recommend suitable insurance solutions.
- Ensure compliance with policy terms, conditions, warranties, and regulatory requirements.
- Support internal, statutory, and insurance audits by providing required documentation.

5. Documentation & Record Management

- Maintain insurance registers, claim trackers, premium records, and policy schedules.
- Ensure proper filing and documentation of all insurance-related records.
- Maintain asset values and stock declarations for insurance purposes.

6. Reporting & MIS

- Prepare monthly MIS on:
- Policy renewals
- Claims status
- Premium utilization
- Claim settlement ratio
- Outstanding claims
- Analyze claim trends and recommend corrective actions to minimize future losses.

7. Stakeholder Coordination

- Coordinate with Finance, Procurement, Logistics, Warehouse, Operations, Legal, HR, and external insurance partners.
- Build solid relationships with insurance companies, brokers, and surveyors for effective policy and claim management.

Educational Qualification

- Bachelor’s degree in commerce, Finance, Business Administration, Insurance, or a related discipline.

Experience- 5-8 Years of experience in Corporate Insurance, Risk Management, or Insurance Operations.

📌 Sr. Executive Insurance (Mumbai)
🏢 Suminter India Organics
📍 Mumbai