Underwriting Manager

12 hours ago

Kolkata, West Bengal, India Salasar Services (Insurance Brokers) Private Limited Full time ₹ 12,00,000 - ₹ 36,00,000 per year

Job description:

Financial:

 Ensure renewal portfolio expansion through relationship building.

 Achieve financial targets articulated in the strategic plans of the Organization in terms of the brokerage earned by

− Ensuring retention of existing clients through relationship building and appropriate servicing

− Accompanying the business development team as and when required to provide technical support for new business acquisitions.

− Assistance in brokerage recovery in case finance department needs assistance.

 Give inputs for the budgeting process including manpower and automation budgets.

 Control expenses to operate within departmental budgets

Business process:


Ensure collation of existing data or client details (with or without policy)

 Ensure closure of new business and renewal of existing clients as per the structured process laid down by the company before expiry by ensuring the following activity

o Fix risk inspection date and coordinate with clients to conduct the inspection

o Coordinate with technical engineers for risk analysis on the basis of on ground situation (fire safety/ infrastructure etc.) and understand gaps in insurance coverage on the basis of inspection

o Analyze gross block in clients' books to estimate adequacy of coverage, obtain tentative valuation from the claims department/ registered value and ascertain gaps to be able to suggest scope for further offerings through a structured report

o Prepare quote slip as well as premium schedule and technical schedule and float the same to insurance companies to obtain quotations and offerings

o Follow up with the insurance companies to get quotation and analyze the merits on the quotations of the insurance companies

o Prepare comparative sheet along with terms and conditions

o Exhibit to client, quotes of only those insurance companies on whom Salasar has control and seek the client's choice

o Prepare documentation for sign off by client once the client makes the choice and issues the premium cheque

o Submit the document to the insurance company and submit acknowledgement sheet to client

o Get 'held cover' letter/ cover note issued in the interim till the policy document is issued

o Follow up with the insurance company for issue of the Policy document and hand over to the client

o Check policy document against quote slip, identify gaps and ensure rectification with necessarily follow up

o Prepare offline policy with detailed fine print with reference to system generated policy, where required, obtain sign off by insurance company and hand over to client

o Ensure all documents are filed manually and entry made in Saiba immediately after business is closed and cheque is received.

o Follow up with insurance companies for endorsements, in case of modifications or errors.

 In the case of existing clients, fix a meeting with the client at least one and a half months before renewal to initiate the process of renewal.

 Ensure timely compliance of the following:

o declaration of all types of policies (e.g. transit / marine policy and fire policy)

o certificate verification

o endorsement

o refunds

o other related matters

 Ensure immediate entries in the KPTS/ SAIBA in case business does not mature despite underwriting support.

 Ensure Compliance with IRDA norms.

 Upload IAR (Industrial All-Risk policies) and endorsements, if any, in SAIBA

 Ensure accuracy of underwriting so that no claim gets jeopardized/repudiated because of underwriting flaws.

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