Placement
Function Purpose
The Placement Function in our insurance broking company is responsible for ensuring optimal placement of insurance policies for our clients. This function involves liaising with insurance underwriters, analyzing risk profiles, negotiating terms, and securing the most appropriate insurance coverage at competitive rates for our clients.
Role Purpose
The purpose of the Placement Role is to effectively manage the placement process for insurance policies. The role involves analyzing clients' insurance needs, identifying suitable general insurance products, negotiating terms with insurers, and facilitating the policy placement to provide the best insurance solutions to clients.
Key Expectations of the Role
Insurance Product Analysis and Selection:Assess clients' risk profiles and insurance needs to determine the appropriate insurance products.Analyze various insurance products available in the market and recommend the most suitable ones for clients.Negotiation and Terms Agreement:Negotiate policy terms, coverage, and premiums with insurance underwriters to ensure optimal terms for clients.Collaborate with insurers to negotiate policy conditions that meet clients' requirements while adhering to compliance and regulations.Policy Placement and Issuance:Facilitate the smooth placement and issuance of insurance policies for clients.Coordinate with internal departments to ensure accurate policy issuance and timely delivery to clients.Client Engagement and Education:Engage with clients to provide updates on policy placements and ensure they understand the terms and conditions of their insurance coverage.Educate clients on policy features, benefits, and coverage details.Market Research and Trends Monitoring:Stay updated on market trends, insurance products, and industry developments to offer informed recommendations to clients.Conduct market research to identify emerging insurance products and assess their suitability for clients.Competencies Required for the Role
Insurance Industry Knowledge:Possesses a strong understanding of insurance products, policies, underwriting, and industry practices.Stays informed about insurance market dynamics, regulations, and emerging trends.Negotiation Skills:Demonstrates effective negotiation skills to secure favorable terms and conditions for clients during policy placement.Balances the interests of clients and insurers to achieve mutually beneficial agreements.Analytical Thinking:Utilizes analytical skills to assess insurance products, evaluate risk profiles, and make informed decisions regarding policy placements.Can interpret complex data and information to draw meaningful insights.Client Relationship Management:Builds and maintains strong relationships with clients, understanding their needs and delivering exceptional service.Listens to clients, provides appropriate advice, and addresses inquiries effectively.Interpersonal Skills: Strong interpersonal skills, including the ability to negotiate, communicate effectively, and collaborate with clients and insurance underwriters.Personal Qualifications
Educational Background: A bachelor's degree in business, insurance, finance, or a related field is preferred.Experience: Prior experience in insurance placement, underwriting, or related roles within the insurance industry is advantageous.Certifications: Relevant certifications in insurance broking or risk management are beneficial.Technology Proficiency: Proficient in using insurance management software and Microsoft Office suite (Word, Excel, Outlook, etc.).Work Experience
10 Years to 20 Years
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The Placement Role focuses on managing the insurance policy placement process by assessing client needs, recommending suitable EB products (GMC, GPA, GTLI), negotiating with insurers, and ensuring optimal coverage solutions.
Key Expectations of the Role
Insurance Product Analysis and Selection:
Assess clients' risk profiles and insurance needs to determine the appropriate insurance products.Analyze various insurance products (EB products - GMC, GPA, GTLI) available in the market and recommend the most suitable ones for clients.Negotiation and Terms Agreement:
Negotiate policy terms, coverage, and premiums with insurance underwriters to ensure optimal terms for clients.Collaborate with insurers to negotiate policy conditions that meet clients' requirements while adhering to compliance and regulations.Policy Placement and Issuance:
Facilitate the smooth placement and issuance of insurance policies for clients.Coordinate with internal departments to ensure accurate policy issuance and timely delivery to clients.Client Engagement and Education:
Engage with clients to provide updates on policy placements and ensure they understand the terms and conditions of their insurance coverage.Educate clients on policy features, benefits, and coverage details.Market Research and Trends Monitoring:
Stay updated on market trends, insurance products, and industry developments to offer informed recommendations to clients.Conduct market research to identify emerging insurance products and assess their suitability for clients.Competencies Required for the Role
Insurance Industry Knowledge:
Possesses a strong understanding of insurance products, policies, underwriting, and industry practices. Specifically EB products - GMC, GPA, GTLI.Stays informed about insurance market dynamics, regulations, and emerging trends.Client Relationship Management:
Builds and maintains strong relationships with clients, understanding their needs and delivering exceptional service.Listens to clients, provides appropriate advice, and addresses inquiries effectively.Personal Qualifications
Educational Background: A bachelor's degree in business, insurance, finance, or a related field is preferred.Experience: Prior experience in insurance placement (mainly in EB products - GMC, GPA, GTLI) , underwriting, or related roles within the insurance industry is advantageous. Read LessRole Purpose
The purpose of the Executive Assistant role is to serve as a key liaison between various internal and external stakeholders. The role involves managing schedules, organizing meetings, handling confidential information, and facilitating seamless communication to enable optimal decision-making and execution of strategic initiatives.
Key Expectations of the Role
Calendar and Schedule Management:
Efficiently manage and coordinate the calendars, schedules, and appointments.Prioritize and arrange meetings, ensuring optimal time management and alignment with strategic objectives.Communication and Correspondence:
Facilitate effective communication between the internal/external stakeholders by managing emails, letters, and phone calls.Draft and proofread correspondence, ensuring accuracy and professionalism.Meeting Coordination and Documentation:
Organize, coordinate, and document meetings, ensuring all necessary materials and documents are prepared and distributed in advance.Record minutes of meetings and follow up on action items to support efficient decision-making and project execution.Confidential Information Management:
Maintain strict confidentiality in handling sensitive information related to the Management and organizational matters.Safeguard and manage confidential documents and data in a secure and organized manner.Travel and Itinerary Management:
Arrange travel logistics, including flights, accommodations, and transportationCreate detailed travel itineraries and ensure smooth travel experiences.CRM Management & Key projects coordination:
CRM entries, updates & related dashboards (MS Excel).Coordinate with colleagues for updates on various projects.Prepare business review reports & rolling target reports. Read LessFunction Purpose
The Claims Function in our insurance broking company is designed to facilitate the efficient and accurate processing of insurance claims. This function aims to ensure timely resolution of claims, maintain client satisfaction, and uphold the credibility of the organization by adhering to ethical and legal standards.
Role Purpose
The purpose of the Claims Role is to effectively manage the claims process for clients, ensuring a smooth and fair settlement of claims. The role involves reviewing and validating claims, liaising with insurers, advocating for clients' interests, and guiding them through the claims process to achieve a satisfactory outcome.
Key Expectations of the Role
Claims Processing and Documentation:
Accurately review and process claims in adherence to established protocols and guidelines.Ensure all necessary documentation is collected and maintained for each claim, including client statements, accident reports, and relevant records.Client Advocacy and Communication:
Act as the main point of contact for clients during the claims process, providing timely updates and information.Advocate for clients' interests and rights, ensuring a fair and just settlement of claims.Settlement or Compromised Settlement:
Engage in substantiating the claim to the insurers to secure optimal claim settlements for clients.Ensure that settlements are fair and appropriate, considering policy terms, legal requirements, and clients' expectations.Conflict Resolution and Customer Service:
Address client concerns, disputes, and inquiries related to claims in a professional and timely manner.Facilitate conflict resolution and maintain positive client relationships throughout the claims process.Competencies Required for the Role
Insurance Knowledge:
Possesses a strong understanding of insurance policies, coverages, and claims processing.Familiarity with insurance regulations, industry standards, and claims-related legal aspects.Communication and Interpersonal Skills:
Demonstrates clear and effective communication, both written and verbal, to convey complex information to clients and internal stakeholders.Exhibits strong interpersonal skills to manage client interactions with empathy and professionalism.Analytical Thinking and Problem-Solving:
Utilizes analytical skills to assess claim details, policy information, and relevant documents to make informed decisions.Identifies potential challenges and develops effective solutions to ensure smooth claims processing.Negotiation and Persuasion:
Demonstrates effective negotiation skills to achieve optimal claim settlements for clients.Persuasively presents clients' cases and arguments to insurers, supporting claims in the best interest of clients.Interpersonal Skills: Strong interpersonal skills, including the ability to empathize with clients, manage client expectations, and effectively communicate during the claims process.
Personal Qualifications
Educational Background: A bachelor's degree in business, insurance, finance, or a related field is preferred.Experience: Prior experience in claims processing, claims handling, or related roles within the insurance industry is advantageous.Certifications: Relevant certifications in claims management or insurance claims are beneficial.Technology Proficiency: Proficient in using claims management systems, CRM software, and Microsoft Office suite (Word, Excel, Outlook, etc.). Read LessJob Purpose:
The primary responsibility of this role is to manage and service Group Personal Accident (GPA) claims, ensuring efficient processing, proper documentation, and timely resolution. The role requires maintaining an updated claims database, coordinating with claimants, handling queries, and ensuring adherence to claim settlement timelines.
Primary Job Responsibilities:
Scrutinization & Claim Status Updation:
Review claim documents for completeness and accuracy.Update claim status on the ARIBL Claim Portal based on received documents.Flag discrepancies or missing information for timely resolution.MIS Maintenance & Analytics:
Maintain a comprehensive MIS for all claims, ensuring data accuracy.Generate analytical reports to track claim trends and performance metrics.TAT Management for Claim Clearance:
Ensure that all claims are processed within the defined Turnaround Time (TAT).Coordinate with internal teams and external stakeholders to expedite settlements.Handling Queries & Claimant Assistance:
Address email queries from claimants, Client, and other stakeholders.Attend to personal visits from claimants at desk, providing necessary guidance and support.Presentation & Awareness Program Preparation:
Prepare PowerPoint presentations (PPTs) for seminars, awareness programs, and training sessions.Conduct workshops or training to educate stakeholders about the GPA claim process.PAN-India Claimant Visits (As Required):
Travel across India to meet claimants, assisting with awareness of the policy, and resolution of issues.Liaise with regional and corporate SBI offices to facilitate smooth claim processing.Key Skills & Competencies:
Strong knowledge of insurance claim processing and documentation.
Proficiency in MIS management, reporting, and analytics.
Ability to handle customer queries with professionalism and empathy.
Strong coordination and follow-up skills to ensure timely claim resolution.
Presentation and training skills to conduct awareness programs.
Willingness to travel PAN India as per business requirements.
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