Insurance Executive

Department: Central Finance & Accounts

Reports To: Head Insurance

Grade: OG-II

No of Position: 01

Location: Head Office (Islamabad)

What is Insurance Executive - MMBL?

Insurance Executive at Mobilink Bank is responsible for managing and administering insurance-related operations for financial products, ensuring proper coverage, accurate documentation, and timely processing of claims and renewals. The role involves close coordination with internal departments, insurance companies, and surveyors to ensure compliance with policy requirements and efficient handling of insurance matters.

What Insurance Executive Does - MMBL?

• Manage the daily operations of product insurance, including updating the MIS, collecting and maintaining relevant data, and arranging insurance coverage for financed assets.
• Verify the sum insured amount against each intimated loan to ensure accuracy and compliance with insurance requirements.
• Process and monitor insurance invoices and ensure timely payment and proper recordkeeping.
• Oversee the renewal of insurance policies related to loans and ensure continuous coverage.
• Maintain proper documentation and records related to insurance policies, claims, and related correspondence.
• Perform reconciliation of Insurance Product General Ledger (GL) accounts to ensure financial accuracy and resolve discrepancies.
• Handle insurance claims processing, particularly Employee Infidelity and other claims under the Bankers Blanket Bond (BBB) policy.
• Manage the end-to-end claims process, including claims lodgment, preparation of required documentation, and submission to the insurance provider.
• Coordinate and maintain correspondence with insurance surveyors, insurance companies, and relevant internal departments to fulfill claim requirements.
• Maintain accurate and organized records of all claims, ensuring compliance with regulatory and internal policies.
• Prepare comprehensive reports and updates on claims status, highlighting findings, progress, and recommendations where required.
• Ensure timely communication and coordination with internal teams to facilitate efficient processing and resolution of insurance matters.
• Respond to queries and provide professional updates to stakeholders regarding insurance coverage, claims progress, and related issues.

What are we looking for and what does it take to be Insurance Executive - MMBL?

• Bachelor’s degree in Business Administration, Finance, Accounting, Insurance, or a related field.
• 2–4 years of relevant experience in insurance operations or claims processing, preferably in banking or financial services.
• Understanding of product insurance arrangements, policy renewals, and claims handling, particularly Employee Infidelity and BBB policy–related claims.
• Insurance companies and surveyors.
• Ability to perform reconciliation of insurance-related GL accounts.
• Proficiency in MS Office, especially Excel, for MIS updates and reporting.
• Strong coordination and communication skills for working with internal teams and insurers.
• Ability to maintain accurate documentation and ensure compliance with internal policies.

About MMBL:

Mobilink Microfinance Bank Ltd. is providing banking services to over 48 million registered users including 20+ million monthly active customers across Pakistan. With a hybrid model that combines traditional microfinance with mobile/digital banking technologies, the bank now operates with over 114 branches and 270,000 branchless banking agents and provides a USSD (GSM) based digital channel offering savings, micro enterprise (MSME) loans, small housing loans, remittances, collection (utility bills and loan instalments), mobile wallets, insurance, G2P, B2B & B2P payments; thus, playing a leading role in the promotion of financial inclusion. MMBL is committed to fostering a positive and productive workplace, and our core values reflect this focus. These values include promoting innovation and entrepreneurship, encouraging teamwork and collaboration, and prioritizing a customer-centric approach in all aspects of our business.

Why Join MMBL?

This is an opportunity for someone who is passionate about making a difference and playing a key role in driving transformative change. Our team is committed to empowering millions with the tools necessary to succeed in the digital age, and we're looking for a talented individual to join us in this endeavor.