Insurance Manager

Position: Insurance Manager

Department: Insurance / Finance & Administration

Industry: Corporate / Healthcare / Ambulance / Fleet Operations

Employment Type: Full Time

Experience: 510 Years

Location: [Location]

Reporting To: Senior Management / Finance Head / Business Head

Job Summary

We are looking for an experienced Insurance Manager with strong knowledge of General Insurance, Motor Insurance, Corporate Insurance, and other commercial insurance products. The candidate will be responsible for managing the organization's complete insurance portfolio, including policy selection, renewals, claims, documentation, negotiations with insurance companies/brokers, and ensuring adequate risk coverage for company assets, vehicles, employees, and business operations.

The ideal candidate should have hands-on experience in dealing with insurance companies, brokers, TPAs, surveyors, garages/workshops, and corporate clients, along with strong knowledge of insurance policies, claims procedures, and regulatory requirements.

Key Responsibilities

1. Insurance Portfolio Management

- Manage the complete insurance portfolio of the organization.
- Handle General Insurance, Motor Insurance, Property Insurance, Fire Insurance, Marine Insurance, Liability Insurance, Employee Insurance, Group Mediclaim, Personal Accident, and other corporate insurance policies.
- Review existing policies and identify gaps in insurance coverage.
- Ensure adequate coverage based on company assets, operations, vehicles, and business risks.
- Maintain an updated insurance database and policy records.

1. Motor Insurance Management

- Manage insurance requirements for the company's entire vehicle/fleet portfolio.
- Handle commercial vehicle, ambulance, car, truck, and other motor insurance policies.
- Ensure timely renewal of all vehicle insurance policies.
- Coordinate for policy endorsements, additions/deletions of vehicles, IDV changes, NCB, and other policy modifications.
- Monitor vehicle insurance expiry dates and ensure there is no lapse in coverage.

1. Claims Management

- Manage the complete insurance claim process from intimation to final settlement.
- Coordinate with insurance companies, surveyors, brokers, garages, workshops, hospitals, TPAs,



and other stakeholders.
- Ensure timely submission of claim documents and follow-up for claim settlement.
- Review rejected, partially settled, and pending claims and take corrective action.
- Maintain detailed records of all claims, including claim status, amount claimed, amount settled, and outstanding claims.
- Escalate delayed or disputed claims to senior management and insurance companies.

1. Corporate Insurance

- Manage insurance requirements for corporate assets and operations.

- Handle policies such as
- Fire & Special Perils

- Property Insurance

- Burglary Insurance

- Public Liability Insurance

- Professional Indemnity Insurance
- Workmen Compensation / Employee Compensation

- Group Personal Accident

- Group Mediclaim

- Marine / Transit Insurance

- Cyber Insurance
- Directors & Officers Insurance
- Other specialized corporate insurance policies

1. Insurance Renewal & Negotiation

- Monitor all policy expiry dates and initiate renewal processes well in advance.
- Obtain and compare quotations from multiple insurance companies/brokers.
- Negotiate premium, coverage, deductibles, exclusions, terms, and conditions.
- Recommend the most suitable insurance solution to management based on risk and cost.
- Ensure timely payment of premiums and issuance of policies.

1. Broker & Insurance Company Coordination

- Develop and maintain strong relationships with insurance companies and brokers.
- Coordinate with insurers for quotations, policy issuance, endorsements, renewals, and claims.
- Evaluate the performance of insurance brokers and service providers.
- Ensure timely resolution of policy and claim-related issues.

1. Documentation & Compliance

- Maintain proper documentation of all insurance policies, endorsements, claims, and correspondence.
- Ensure insurance documents are properly filed and easily accessible.




- Track statutory and contractual insurance requirements.
- Ensure compliance with applicable insurance regulations and company policies.
- Prepare periodic reports for management regarding insurance coverage, renewals, claims, and outstanding matters.

1. Risk Management

- Identify potential financial and operational risks that require insurance coverage.
- Conduct periodic reviews of the organization's insurance requirements.
- Recommend suitable insurance products to minimize financial exposure.
- Coordinate with internal departments to understand changing business risks and asset values.

Key Performance Indicators (KPIs)
- 100% timely renewal of insurance policies.
- Zero lapse in critical insurance coverage.
- Reduction in insurance premium through effective negotiation.

- Timely settlement of insurance claims.
- Reduction in outstanding/rejected claims.
- Proper documentation and compliance.
- Effective management of insurance costs.
- Improved claim settlement ratio and turnaround time.

Required Skills
- Strong knowledge of General Insurance and Motor Insurance.
- Excellent understanding of corporate and commercial insurance policies.

- Strong knowledge of insurance claims and settlement procedures.
- Experience in handling fleet/motor insurance will be highly preferred.
- Good negotiation and communication skills.

- Robust analytical and problem-solving ability.
- Excellent documentation and follow-up skills.
- Ability to coordinate with multiple insurance companies, brokers, surveyors, and internal departments.

- Good knowledge of MS Excel, MIS, and insurance management systems.

Qualification
- Graduate in any discipline.
- MBA/PGDM in Finance, Insurance, Risk Management, or related field will be an advantage.

- Insurance-related certification such as Licentiate/Associate/other relevant insurance qualifications will be preferred.

Preferred Experience Candidates with experience in any of the following sectors will be preferred:
- Corporate Organizations
- Insurance Companies / Insurance Brokers
- Healthcare / Hospital Groups
- Ambulance & Fleet Companies
- Logistics & Transport
- Financial Services
- Large Multi-Location Organizations

📌 Insurance Manager (Mumbai)
🏢 Zenplus
📍 Mumbai