Reinsurance Manager

3 weeks ago

Hyderabad, Telangana, India Kshema General Insurance Limited Full time

About the Company - Kshema General Insurance Limited (Kshema) was established in 2018 and is India's only Digital Agri Insurance Company catering to farmers/cultivators in the Agriculture Sectors. Kshema enables cultivators with resilience from financial distress due to extreme climate events and perils through localised insurance products. Kshema is leveraging Technology to provide cutting edge insurance solutions to farmers.

Kshema has a pan India presence with more than 500+ employees on roles along with 500+ employees as contractors.

About the Role - As a Reinsurance Manager, you will be responsible for design, negotiation, placement, and monitoring of reinsurance programs in line with the risk appetite, financial objectives and regulatory requirements for Kshema General Insurance Limited. You will work closely with Kshema's stakeholders like brokers and reinsurance partners along with Kshema's internal departments like Underwriting, Finance and Actuarial teams to achieve your deliverables.

Responsibilities -

  • Developing and reviewing the retention strategy and reinsurance program as per the risk appetite, financial objectives, and regulatory requirements.
  • Evaluating the reinsurance needs and opportunities for Kshema, based on an analysis of risk profile, capital position, and market conditions
  • Negotiating and securing optimal pricing, terms, and conditions for reinsurance contracts with reputable and financially sound reinsurers.
  • Preparing and reviewing the reinsurance submissions, proposals, and contracts.
  • Ensuring compliance of all reinsurance discussions, contracts and submissions with internal and external standards and regulations.
  • Leading the reinsurance accounting, reporting, and auditing processes, and ensuring timely and accurate settlement of reinsurance transactions and claims.
  • Monitoring the performance of reinsurance programs, and conduct regular reviews and audits to identify gaps, and suggest changes in the program to address gaps and/or save reinsurance spend;
  • Establishing and maintaining effective communication with reinsurance brokers, reinsurers, and internal stakeholders, and resolving any disputes or queries; and
  • Keeping abreast of the latest trends, developments, and best practices in the reinsurance industry, and providing insights and recommendations to senior management.
  • Qualifications -Bachelor's or master's degree in insurance, finance, actuarial science, or a related field

Required Skills -

  • In-depth knowledge of current reinsurance regulations, reinsurance concepts, principles, and practices, such as reinsurance types, structures, pricing and accounting.
  • Professional certification or designation in reinsurance from a reputed institute is desirable.
  • Extensive experience in reinsurance domain; preferably with an Indian Insurance company
  • Strong analytical, problem-solving, and decision-making skills, and the ability to evaluate complex and dynamic reinsurance scenarios and risks.
  • Excellent negotiation, communication, and interpersonal skills, and the ability to build and maintain positive and productive relationships with internal and external parties.
  • High level of integrity, professionalism, and ethical standards, and the ability to comply with relevant laws, regulations, and codes of conduct; and
  • Strategic, innovative, and results-oriented mindset, and the ability to align reinsurance objectives and activities with the company's vision, mission, and values.

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