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Insurance Placement Strategist

1 week ago


Mumbai, Maharashtra, India Aditya Birla Capital Full time

About Aditya Birla Capital:

We are a leading insurance company dedicated to providing innovative solutions for our clients.

  • Manage new business and renewal quotes for corporate accounts in Mumbai
  • Develop and implement strategic placement plans for major IAR, Marine Sales Turnover (MSTOP), Project Insurance, and Fire Insurance policies

Key Responsibilities:

  1. Quotes and Placement Management: Oversee the management of new business and renewal quotes, ensuring timely and accurate completion of tasks
  2. Market Intelligence: Stay up-to-date with industry trends, insurance products, and regulatory guidelines to ensure the team is aware of changes and updates
  3. Gather Market Intelligence: Utilize personal networks and relationships to gather market intelligence and share insights proactively with the team
  4. Review Processes: Regularly review processes and SOPs to ensure adherence to quality control standards
  5. Automation: Implement automation of end-to-end placement processes, including maker-checker at each stage
  6. Gap Analysis Reports: Review gap analysis reports and support the analysis process for large proposals to provide valuable insights for clients
  7. Industry Benchmarking: Conduct industry benchmarking for key large accounts as a value-addition to impress upon clients
  8. Strategic Planning: Collaborate with the team to strategize placements portfolios based on market intelligence gathered
  9. Leverage Relationships: Leverage relationships with insurance companies to obtain competitive quotes and technical terms in a timely manner
  10. Senior Management Support: Develop strong relationships with senior management at insurers for support on large deals
  11. Visits to Insurers: Visit insurers for quotes, technical discussions, product customization, and rewards
  12. Interaction with Sales Teams: Oversee interaction with sales teams to gather requisite information pertaining to clients and share technical inputs
  13. Client Visits: Visit clients along with sales teams for technical presentations, discussion on quotes, policies coverage, and exclusions
  14. Support to Clients: Extend support to clients for selection of insurers and co-insurers for their portfolio
  15. Monitoring Accuracy: Monitor accuracy and timely completion of quotes and placement activities by the team, including documentation
  16. Review Placement Slips: Review placement slips and quote comparison reports, sharing inputs with the team to ensure value-additions for clients and insurers
  17. Negotiation: Lead negotiation and critical aspects of quotes management with internal and external stakeholders
  18. Maintenance of Database: Maintain a comprehensive database on quotes management and placement best practices across the industry
  19. Analysis of Client Feedback: Analyze client feedback received from sales teams for cases where business was not won, ensuring learnings are shared with the team
  20. Clarifications/Query Resolution: Liaise with insurers for providing clarifications/query resolution and leverage relationships by visiting their offices
  21. Renewal Processes: Follow standardized and efficient renewal processes to ensure quality control and customer retention
  22. Maintenance of Database: Maintain a comprehensive database on quotes management and placement best practices across the industry
  23. Training Programs: Plan and execute training programs/sessions at plant locations and 'Know Your Policy Campaign' for existing units and newly acquired units
  24. Cordination with Businesses: Coordinate with respective businesses (Committee on Insurance Premium) team right from inception of renewal process to placement of the policy
  25. Regular Visit to Senior Management: Regularly visit senior management of respective businesses to give them comfort on policy servicing and keep them updated on their insurance portfolio
  26. Share Technical Notes: Share technical notes/quotes comparison reports along with useful insights for clients
  27. Seamless Process: Ensure seamless process for renewals and new policies by smooth placement with insurers, issuance of risk held letter, policies, and carrying out policy scrutiny