Insurance Manager

Role & responsibilities

Key Responsibilities 1. Insurance Operations Management • Manage the end-to-end administration of all corporate insurance programs. • Ensure proper policy issuance, endorsements, renewals, additions, deletions, and amendments. • Monitor policy coverage, terms, conditions, exclusions, and compliance requirements. • Maintain centralized insurance records, databases, and policy documentation. • Develop and implement insurance administration procedures and operational controls. • Prepare periodic insurance operational reports and management dashboards.

2. Group Insurance Administration & Renewals • Manage annual renewal activities for all group insurance programs, including: o Group Medical Insurance o Group Life Insurance o Group Personal Accident Insurance o Workmen's Compensation Insurance o Motor Fleet Insurance o Property and Liability Insurance (if applicable) • Coordinate with insurers, brokers, and internal departments for renewal information and negotiations. • Conduct renewal reviews, benchmarking, and market comparisons. • Analyze claims experience and loss ratios to support renewal negotiations. • Ensure timely completion of renewals to avoid lapses in coverage. • Recommend coverage enhancements and cost optimization opportunities.

3. Vendor & Broker Management • Manage relationships with insurance companies, brokers, TPAs, and other insurance service providers. • Evaluate vendor performance against agreed service levels. • Conduct periodic vendor reviews and performance assessments. • Participate in vendor selection, tendering, and renewal processes. • Negotiate commercial terms, service agreements, and policy terms. • Ensure vendors comply with contractual obligations and service standards. • Resolve service-related escalations and operational issues.

4. Claims Oversight & Management • Oversee the administration and monitoring of insurance claims across all policies. • Ensure timely reporting and submission of claims. • Coordinate with insurers, brokers, TPAs, and employees on claim settlements. • Monitor claim reserves, settlement timelines, and outstanding claims. • Analyze claims trends and identify cost-containment opportunities. • Prepare claims reports and presentations for management review.

5. Data Analysis & Reporting • Maintain accurate insurance records and policy registers. • Prepare monthly, quarterly, and annual reports on: o Claims experience o Claims ratios o Vendor performance o Renewal status o Policy utilization o Insurance costs and savings initiatives • Provide analytical insights to support management decision-making.

6. Compliance & Risk Management • Ensure compliance with applicable insurance regulations and company policies. • Monitor policy obligations and contractual insurance requirements. • Support internal and external audits related to insurance programs. • Identify insurance-related risks and recommend mitigation measures. • Maintain confidentiality and security of insurance-related information.

7. Stakeholder Management • Partner with HR, Finance, Administration, Fleet, Legal, and Operations teams. • Provide guidance on insurance coverage, claims procedures, and policy matters. • Conduct awareness sessions for employees on group insurance benefits. • Handle escalations related to policy administration and claims services.

Preferred candidate profile

Qualifications • Bachelor's Degree in Business Administration, Finance, Insurance, Risk Management, or a related field. Master's Degree or MBA preferred. • Professional insurance qualifications (AIII, Diploma in Insurance, FIII Certification, or equivalent) will be an advantage.

Experience • Minimum 7-10 years of experience in Corporate Insurance, Employee Benefits, Insurance Operations, Brokerage, or Risk Management. • Proven experience managing group insurance programs and corporate insurance portfolios. • Experience handling insurer and broker relationships. • Strong exposure to policy renewals, claims management, and vendor negotiations. • Experience working with multiple stakeholders and large employee groups is preferred.

Skills & Competencies • Strong knowledge of corporate insurance and employee benefits programs. • Excellent vendor and stakeholder management skills. • Strong negotiation and contract management abilities. • Analytical mindset with proficiency in data interpretation and reporting. • Advanced Microsoft Excel and reporting skills. • Excellent communication and presentation skills. • Strong organizational and project management capabilities. • Ability to work under pressure and manage multiple priorities. • Problem-solving and decision-making skills.

Key Performance Indicators (KPIs) • Timely completion of all insurance renewals. • Renewal cost savings and coverage optimization achieved. • Vendor service level compliance. • Claims settlement turnaround time. • Accuracy of insurance records and reporting. • Reduction in operational and compliance risks. • Employee and stakeholder satisfaction levels. • Successful implementation of process improvement initiatives.

Preferred Industry Background • Insurance Companies • Insurance Brokers • Employee Benefits Consulting • Corporate Insurance Departments • Risk Management Firms • Healthcare TPA Operations • Large Corporate Organizations managing group insurance programs .