Insurance Manager

Manage all aspects of general insurance activities associated with the organization's tangible and intangible assets by ensuring appropriate insurance coverage and effective risk management strategies; thereby protecting the Group from potential risks and financial losses.

Strategy, Policy, and Procedure

• Establish and develop the Insurance Strategy for all classes of general Insurances in line with the company’s strategic objectives and internal operational requirements.
• Develop and monitor insurance policies, procedures and best practices complying with regulations and Group standards ensuring they are defined and updated.
• Establish essential guidelines for obtaining insurance policies and its related matters.
• Deal with sensitive and confidential information related to work with discretion to protect the interests of Group.

Insurance placement (new/renew) Management

• Ensure all assets are insured, data is analyzed and used for continuous improvement and optimization.
• Review, analyze and evaluate the effectiveness of existing insurance Policies and the risks of business operations in coordination with the related operating units in the group and identify the most suitable insurance coverage required by the group.
• Conduct insurance policy review process to identify any gaps in policies, validity periods, coverage, limits ensuring clauses do not pose any business exposure risks.
• Manage the procurement of Insurance policies via tendering process by preparing RFX’s, scope of work and quote slip preparation for general insurance renewal and /or extend policies.
• Monitor addition and deletion to organization’s asset portfolio to ensure the insurance coverage is kept up to date.
• Ensure timely settlement of all insurance endorsements, dues and premiums.
• Understand current national and global insurance market trends and offerings.

Insurance Claims Monitoring

• Manage all property and liabilities insurance claims by liaising with the insurance market (insurance providers, loss adjustors) and various internal stakeholders.
• Manage and track on daily claims reporting and settlements and maintain all claims and follow up on collections.
• Resolve and respond to any disputes related to claim's settlement by ensure correct handling claims from the insurance company.
• Analyze all general Insurance policies performance in terms of claim utilization.
• Conduct periodic review/reconciliation of claims with relevant party to set corrective actions ensuring appropriate coverage and minimal risk for the group.

Review insurance and indemnity provisions

• Review all insurance provisions stipulated in external commercial business agreements and contracts concluded with external parties ensuring that the 7X Company’s best contractual and commercial position is attained.
• Provide insurance consultations, advice, and support to all levels of management within the group on insurance policies and risk aspects to all businesses.

Insurable Risk Survey and Assessment

• Provide Advice to business owners on the insurable risks within the Company and recommend effective risk management methods related to business operations.
• Review the group risk profile to ensure that the potential financial risk and legal obligations exposures to different business lines in the group are appropriate insured at the right coverage and at the right cost. Conduct periodic site visits to 7X premises to determine the appropriate limit of coverage across all branches against all potential liability’s policies.
• Provide Cost-Risk analysis covering any uninsured assets and provide clear recommendations to top management to needed actions.

Budgetary Control

• Prepare and manage 7X’s annual insurance forecast budget and premium allocations for the various business units based on their business needs and insurance policy renewal process, including invoicing and premium payments.

Team Supervision

• Establish a clear and achievable target for the team and provide support to achieve these objectives.
• Ensure all employees are adequately trained and possess the skills to achieve the desired performance outcome.

Synergies with Stakeholders

• Develop and maintain strong relationships with internal and external stakeholders and implement insurance programs that align with the organization's needs and goals.
• Communicate with relevant stakeholders for the resolution of Insurance issues and disputes.

Reports

• Create reports to ensure documentation authenticity and proper cost utilization.
• Prepare insurance/claims reports for management or regulatory purposes.

Other Tasks

• Perform any other responsibilities relating to this job request or work task as allocated and assigned by the management.

Qualifications and Knowledge:

• Bachelor’s degree in Business administration or equivalent with a professional insurance qualification from a Chartered Institute: CII Certificate minimal.

Experience:

• 7 - 10 years of relevant experience in managing insurance functions in the Logistic, Retail or Postal industry of a large organization.