Insurance Manager – Fixed Assets Insurance Portfolio

1 week ago

Mumbai, Maharashtra, India JSW Motors Limited Full time ₹ 75,00,000 - ₹ 2,50,00,000 per year

About JSW Motors:

We aspire to become India's fastest-growing and ever flourishing automotive OEM, with a strong focus on expanding our presence across global markets. Backed by cutting-edge vehicle technologies tailored for both Indian and international consumers, we are making bold strides in the electric vehicle (EV) space. Our significant investments in Maharashtra—particularly in Chhatrapati Sambhajinagar—underscore our commitment to sustainable mobility. This large-scale initiative includes the development of state-of-the-art EV and hybrid vehicle manufacturing facilities, with a target to produce over 300,000 electric cars annually, while creating more than 5,000 new jobs

Role Overview:

To manage and administer the organization's insurance portfolio related to fixed assets — including buildings, plants, machinery, and equipment — ensuring adequate coverage, timely renewals, accurate valuation, and efficient claims management..

Key Responsibilities:

Insurance Portfolio Management

· Manage end-to-end insurance coverage for all fixed assets (property, equipment, plant & machinery, etc.).

· Ensure adequate sum insured and coverage terms based on asset valuations, risk assessments, and business requirements.

· Coordinate with internal departments for asset additions, deletions, and changes to ensure policy accuracy.

· Liaise with insurance brokers and underwriters for renewals, endorsements, and new cover placements.

Risk Assessment & Valuation

· Conduct regular reviews of insured assets to ensure correct valuation and risk categorization.

· Collaborate with engineering and finance teams for periodic fixed asset verification and risk surveys.

· Recommend improvements in risk mitigation measures and insurance coverage.

Claims Management

· Handle claims related to property damage, machinery breakdown, fire, or natural calamities.

· Coordinate with insurers, surveyors, and internal stakeholders for prompt documentation and claim settlement.

· Maintain a claims tracker and ensure closure within stipulated timelines.

Compliance & Documentation

· Maintain updated records of all insurance policies, schedules, endorsements, and certificates.

· Ensure adherence to company policies and statutory insurance requirements.

· Support internal and external audits related to insurance matters.

Financial Control & Reporting

· Prepare annual insurance budgets and premium forecasts.

· Analyze premium cost trends and identify potential savings through optimized coverage.

· Prepare periodic MIS reports on insurance coverage, claims, and renewals.

Qualifications & Experience:

· Graduate / Postgraduate in Commerce, Finance, or Risk Management.

· Preferred certifications: Associate / Fellowship from Insurance Institute of India or equivalent.

· 3–8 years of experience in managing industrial / corporate insurance portfolios, with exposure to fixed asset coverage.

· Strong understanding of property, fire, machinery breakdown, and consequential loss policies.

Key Skills

· Knowledge of insurance market practices, underwriting principles, and claims process.

· Analytical and detail-oriented with strong numerical skills.

· Proficiency in MS Excel and ERP systems (SAP, Oracle, etc.).

· Good communication and coordination skills to
manage multiple stakeholders.

Reporting To:
Head - Accounting

Location
– Mumbai

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