Insurance & Claims Officer

4 weeks ago

india GMS Inc Full time
Job Description

The primary responsibility of this position is to support the Insurance Manager in coordinating various aspects of Insurance & Claims within the maritime industry, including Hull & Machinery (H&M), Protection & Indemnity (P&I), War Risk, and other related areas. The role entails several key tasks and responsibilities under the direct supervision and guidance of the Insurance Manager.

  • Data Collection and Analysis :
    • The applicant will be tasked with collecting relevant data pertaining to insurance policies, claims, risk assessments, and industry trends.
    • They will analyze this data to extract meaningful insights, identify patterns, and assess the overall performance of insurance portfolios.
  • Report Generation :
    • A critical aspect of the role involves producing detailed reports based on the analyzed data. These reports will provide valuable information to stakeholders, aiding in decision-making processes and strategic planning.
  • Placement and Renewals :
    • The applicant will be actively involved in the placement of insurance policies and the renewal process.
    • This includes liaising with insurance providers, negotiating terms, and ensuring timely renewals to maintain adequate coverage for maritime assets.
  • Policy Monitoring :
    • Monitoring insurance policies is essential to ensure compliance, coverage adequacy, and timely updates as per regulatory changes or industry standards.
    • The applicant will be responsible for tracking policy amendments, endorsements, and exclusions, as well as maintaining accurate records.
  • Claims Handling :
    • Handling P&I claims is a significant aspect of the role, requiring the applicant to manage claims from initiation to resolution.
    • This involves assessing claim validity, gathering supporting evidence, liaising with relevant parties (e.g., insurers, legal teams, surveyors), and negotiating settlements.
  • Assistance with H&M Claims :
    • While primarily focused on P&I claims, the applicant will also provide support in handling Hull & Machinery (H&M) claims.
    • This may include assisting in claim investigations, documentation, and coordination with insurers and other stakeholders.
  • War risk AP and Sanction Checks Coordination :
    • Coordinating sanction checks is crucial to ensure compliance with international sanctions and regulatory requirements.
    • Responsible for placing all war risk AP and monitor all aspects of the voyage.
    • The applicant will be responsible for facilitating sanction checks, verifying compliance, and addressing any related issues or concerns.8.            
  • Monitoring of invoices on the trading fleet
    • Verify and process insurance-related invoices promptly to maintain coverage for the trading fleet.
    • Monitor budgetary allocations and ensure accuracy in invoice payments to optimize cost management for insurance expenses.

Requirements

  • Applicants with a BSc. and/or MSc. in Shipping and/or a Degree in Law will be considered.
  • A minimum of3 to 5 years' experience in maritime Insurance & claims is required.
  • Proficiency in English (written and oral) and computer skills are essential.
  • Key competencies include building effective relationships with brokers, underwriters, and colleagues, strong negotiation, communication, and analytical skills.
  • Candidates must demonstrate understanding and application of insurance principles and processes.
  • Applicants meeting these criteria are encouraged to apply.


Benefits
  • Exciting position offering ample room for growth within a prestigious, rapidly expanding global organization.
  • A work environment characterized by ethics, innovation, challenges, professionalism, and meaningful rewards.

Requirements
BSc. and/or MSc. in Shipping and/or Degree in Law can be considered. Previous experience of minimum 5 years in the maritime Insurance & claims field. Excellent command of the English language, both written and oral. Computer Skills required. Key competencies: The applicant is required to be able to build effective working relations with brokers, underwriters and colleagues, have strong negotiation, communication and analytical skills. Demonstrate understanding and application of insurance principles and processes. Candidates who meet the above criteria are welcome to apply.

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