Impact Infotech- Assi. Manager- Insurance

Role Purpose

To manage and administer the organization's corporate insurance portfolio, ensuring adequate risk coverage, timely renewals, premium processing, claims management, compliance with policy terms & conditions, and effective coordination with brokers and insurance companies.

Key Responsibilities

Insurance Policy Administration & Risk Coverage

Manage the organization's General Insurance and Liability Insurance portfolio.

Review, evaluate, and process insurance proposals with a thorough understanding of policy terms, conditions, exclusions, deductibles, and coverage adequacy.

Coordinate with internal stakeholders, insurance brokers, and insurance companies for obtaining quotations and policy issuance.

Administer various insurance policies including:

o Marine Insurance

o Fire Insurance

o Property All Risk (PAR) Policy

o Public Liability Act Policy

o Commercial General Liability (CGL)

o Product Liability Insurance

o Employee Compensation Policy

o Erection All Risk (EAR) Policy

o Other corporate insurance policies as required

Policy Renewal & Broker Management

Liaise with insurance brokers and insurance companies to obtain competitive quotations for policy renewals and new requirements.

Conduct comparative analysis of premiums, coverage, benefits, exclusions, and deductibles.

Negotiate favorable terms and conditions to optimize insurance coverage and cost.

Verify renewed policies against approved quotations and negotiated terms before acceptance.

Premium Processing & Financial Control

Process insurance premium payments within stipulated timelines.

Maintain records of premium payments, deposits, and insurance-related financial transactions.

Coordinate with Accounts Payable and Finance teams for timely settlement of premiums.

Ensure proper documentation and audit readiness of insurance records.

Claims Management

Handle end-to-end insurance claims administration.

Coordinate with surveyors, brokers, insurers, and internal stakeholders for claim submissions and settlements.

Track claim status and ensure timely closure.

Maintain claim documentation and recovery records. MIS Reporting & Compliance

Maintain and update Insurance MIS covering policies, claims, renewals, endorsements, and premium payments.

Generate periodic management reports and dashboards.

Monitor compliance with insurance policy terms, warranties, and conditions.

Support internal and external audits related to insurance matters.

Ensure timely renewal tracking and policy compliance across locations.

Stakeholder Management

Collaborate with Plant, Supply Chain, Commercial, Legal, HR, Finance, and Operations teams for insurance-related requirements.

Act as a key point of contact for insurance brokers and insurance companies.

Provide guidance to internal stakeholders on insurance coverage and claim procedures.

Additional Responsibilities

Support risk assessment initiatives and insurance optimization projects.

Undertake any other assignments delegated by management from time to time.

Desired Candidate Profile

5–8 years of experience in Corporate Insurance Management, preferably in Pharmaceutical, Manufacturing, Chemical, FMCG, or related industries.

Strong knowledge of General Insurance, Liability Insurance, and Corporate Risk Management.

Hands-on experience in policy administration, renewals, claims handling, and broker management.

Good understanding of insurance regulations, policy wording, endorsements, and compliance requirements.

Proficiency in SAP (AP Module), MS Excel (Advanced), and MIS reporting.

Strong analytical, negotiation, communication, and stakeholder management skills.

Ability to work independently and manage multiple insurance portfolios effectively.

Key Competencies

Insurance & Risk Management

Claims Administration

Policy Review & Compliance

Data Analysis & MIS Reporting

Financial Control & Premium Processing

Negotiation & Vendor Management

Attention to Detail

Problem Solving & Decision Making

Cross-functional Coordination