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Officer/Executive - Insurance

1 - 4 YearsMumbai

Posted: 9 days ago

Job Description

Key Result Areas (Key Performance Indicators)

1. To float RFQs to various Insurers for renewal of policies / new placements for Alkem and obtaining quotes within the stipulated time of 8-10 days before expiry of policy.

2. Making quote comparisons& discussing premium, terms& conditions / warranties with insurers.

3. Preparing MIS of all insurance policies and claims (lodged, settled and outstanding)

4. Updating Premium payments on monthly basis and doing regular reconciliation with Insurance various plant site personnel.

5. Close coordination with Insurances for timely issuance of Policy documents endorsements once premium payments are done.

6. Check the Insurance Policies post issuance for any discrepancies and gaps in coverage as compared to quotes negotiated and finalized prior to placement.

7. Handling entire claim process from lodging, document arrangement to claim settlement.

8. Document Management including maintaining policy copies, Approval notes, Documents related to settled claims including survey report etc.

Critical Tasks

1. Consolidation of data for Various Insurance Policies from Respective Plant sites.

2. Sending RFQs to Insurance Co.

3. Discussing / negotiating with the Insurance Co for Quotes Coverage.

4. Comparative evaluation of quotes and proposed terms & conditions including policy wordings.

5. Preparing Note for Approval (NFA) for necessary approvals & policy finalization.

6. Placement of Policies.

7. Verify and confirm that the policies issued cover the intended properties and risks.

8. Checking Policy drafts &finalizing the policy document.

9. Preparing Claims MIS (Property, Marine).

10. Updating MIS on monthly basis.

11. Monitoring & keeping track of Cash Deposit (CD) account with various Insurance co.

12. Distribution of policies / insurance certificates internally externally in a timely manner.

13. Ensuring premium payments to the Insurance Companies by due dates to avoid cancellation of policies.

14. Coordinate with all concerned at Various Plant sites for arranging Risk inspections

15. Maintaining Record of Policies, Note for Approvals (NFA), Claim Survey reports, Cover letters, Premium Receipts.

Salary: Not Disclosed by Recruiter
Industry: Pharma / Biotech / Clinical Research
Functional Area: HR, Recruitment, Administration, IR
Role Category: Administration/Facility Management
Role: Executive/ Sr Executive - Administration
Employment Type: Permanent Job, Full Time

Desired Candidate Profile

Please refer to the Job description above

Company Profile

Alkem Laboratories Ltd
We are a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and neutraceutical products. Established in 1973, we produce high-quality branded generics, generic drugs, active pharmaceutical ingredients ("APIs") and neutraceuticals, which we market in India and 55 countries internationally, primarily the United States. For fiscal year 2015, we were the fifth largest pharmaceutical company in India in terms of domestic sales . Our domestic business has grown at a CAGR of 17.6% from fiscal year 2011 to fiscal year 2015. We are the third-fastest growing company in terms of sales in this period among the ten largest pharmaceutical companies in the Indian domestic formulations market.
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Contact Details

Recruiter Name:Sanchit Murkar

Contact Company:Alkem Laboratories Ltd