Insurance Manager

Job Summary

The Insurance Manager oversees programs to minimize risks and losses that might arise from financial transactions and business operations undertaken by the organization. Directs and manages the implementation of policy administration and ensures proper documentation of all related mandatory documents, policies, and other transactions.

Key Responsibilities

• Manage daily insurance requirements of all business units of the Company, following set policies and procedures for the insurance department and best practices of insurance management.
• Conduct risk assessments and ensure assets are insured; analyze data for continuous improvement and optimization to maximize insurance coverage while maintaining feasible insurance costs.
• Manage the implementation of Insurance Operations (Commercial Risks) objectives by providing leadership and facilitating work processes to achieve high performance standards.
• Ensure adherence to guidelines and effective management of all underwriting requirements.
• Carry out annual renewal of insurance policies as per defined policies, procedures, and processes.
• Conduct daily policy administration, including additions and deletions of assets or changes in risk that may require amendments to insurance cover.
• Manage claims reporting and settlements with insurance companies and loss adjusters.
• Prepare and maintain loss details reports and loss ratio records and submit annual analysis reports.

Job Knowledge & Skills

• Professional insurance certifications such as ACII and FCII.
• Solid foundation knowledge of insurance claims processing, insurance procurement, and local insurance markets.
• Understanding of geopolitical developments within the region is an advantage.
• Knowledge of related laws, legal codes, court procedures, precedents, government regulations, and executive orders.
• Experience dealing with a broad range of insurance markets, underwriters, and claims managers within insurance companies.
• General knowledge of industry products, regulations, and developments.
• ERP knowledge, preferably SAP functional skills, is required to be successful in this role.

Experience

• Minimum 8 years of total working experience.
• Minimum 5 years of relevant working experience.
• GCC experience (2 years) is a plus.

Education

• Bachelor’s Degree in Finance, Accounting, Economics, Public Administration, Business Administration, or other related fields.