Insurance Specialist

1 day ago

Mumbai, Maharashtra, India PluginLive Full time

Job Title:
Insurance Specialist -
InvIT & Infrastructure

Location:
Mumbai

Experience: 8-12 Years of experience in

  • Managing insurance for infrastructure, real estate, highways, or similar large asset-based organizations
  • Prior experience in insurance placement, claims handling, and stakeholder management is essential

Qualifications:

  • Graduate in any discipline with a professional qualification in Insurance (e.g., Associateship/Fellowship from Insurance Institute of India, IRDA-certified insurance professional)
  • Preferred: Engineering/Finance background with insurance experience in infrastructure sector.

Required Skills:

  • Strong understanding of infrastructure project risks and insurance solutions
  • Familiarity with concession agreement and lender requirements on insurance
  • Excellent negotiation and relationship management skills
  • Proactive, detail-oriented, and process-driven approach
  • Strong communication and coordination skills
  • Ability to handle multiple stakeholders and manage tight timelines

Key Responsibilities:

  1. Insurance Program Management

  2. Assess and design optimal insurance programs for operational SPVs and corporate-level risks.

  3. Ensure comprehensive coverage for project assets including Property Damage, Business Interruption, Terrorism, Third-party Liability, and Natural Calamities.
  4. Manage procurement and renewal of insurance policies in alignment with project requirements, lender covenants, and concession agreement obligations.

  5. Engage with insurance brokers, underwriters, and legal advisors to negotiate competitive terms and coverage.

  6. Claims Management

  7. Lead the end-to-end claims process including timely intimation, documentation, coordination with surveyors, loss assessors, and insurers.

  8. Monitor progress of claim settlements and ensure maximum and timely recoveries.

  9. Escalate high-value or complex claims to senior management with strategic recommendations.

  10. Risk Assessment & Gap Analysis

  11. Periodically assess insurable risks across SPVs and the Trust.

  12. Identify gaps in coverage or emerging risks and recommend suitable insurance products or risk transfer mechanisms.

  13. Stay updated on industry practices, regulatory developments, and market trends impacting infrastructure insurance.

  14. Compliance & Documentation

  15. Ensure adherence to all regulatory, lender, and concessioning authority requirements related to insurance.

  16. Maintain comprehensive insurance records including policies, endorsements, claims history, and declarations.

  17. Support internal and external audits pertaining to insurance.

  18. Stakeholder Coordination

  19. Act as the primary interface with insurance brokers, insurers, lenders, concessioning authorities, and internal teams for insurance-related matters.

  20. Conduct awareness sessions for project teams on insurance coverage, claim protocols, and risk mitigation.

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