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Underwriting and MIS Executive - Mumbai
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Underwriiting & MIS Executive — Corporate Insurance (GMC / Fire & Property / Marine)
Location: Mumbai- Andheri
Department: Corporate Insurance / Risk & Insurance
Employment Type: Full‑time
Experience: 1–5 years (Insurance/BFSI preferred)
Role Summary
You will own end‑to‑end insurance business MIS and be the central coordinator for quotation, comparison, and placement of corporate policies across Group Medical (GMC), Fire & Property (SFSP), and Marine (Inland/Ocean) lines. The role blends data management, reporting & analytics with market engagement (insurers/brokers) and regulatory‑grade information governance.
Key Responsibilities
1) Quotation & Market Coordination (GMC / Fire-Property / Marine)
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Prepare and issue RFQs to relevant insurers for GMC renewals, Fire & Property, and Marine policies; compile submission bordereaux, exposure schedules, and claims summaries.
- Coordinate quote follow‑ups, capture insurer terms (rates, deductibles, warranties, exclusions), and maintain multi‑insurer comparison matrices to support placement decisions.
- For Fire & Property: collate risk details (occupancy, construction, fire protection, asset values) required for underwriting and rate adequacy.
- For Marine: gather voyage/cargo details, routes, packing, loss history, and other underwriting inputs; record principles (indemnity, insurable interest, utmost good faith) used in quote assessments.
2) Business MIS & Analytics
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Design, automate, and publish daily/weekly/monthly MIS for premium budgets, quote pipelines, loss ratios, endorsements, claims TAT, and renewal milestones (Power BI/Tableau/Excel).
- Maintain central insurance data marts (policy registers, exposure databases, claims logs) with data accuracy, validation checks, and version control.
- Build dashboards and management packs that highlight trends, anomalies, and actionable insights to support underwriting strategy and negotiations.
3) IRDAI‑Aligned Information Governance
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Implement board‑approved data retention, security, disaster recovery, and India‑local record storage for insurance MIS in line with IRDAI’s 2025 “Maintenance of Information” regulations.
- Ensure privacy/controls for policyholder information and audit‑readiness of electronic records for regulatory inspections. https://taxguru.in/corporate-law/irdai-maintenance-information-regulated-entities-sharing-information-authority-regulations-2025.html
4) Process Excellence & Compliance
- Standardize renewal calendars, readiness checklists, and post‑placement controls (endorsement logging, certificate issuance, panel vetting, claims reporting formats).
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Support grievance/claims transparency and need‑analysis practices aligned to IRDAI’s customer‑protection approach.
- Drive continuous automation (Excel VBA, templates, Power Query; scheduling data refresh; error handling).
Deliverables / KPIs
- On‑time renewals across all policy lines (per calendar).
- Quote comparison packs (complete, accurate, compliant) issued within agreed SLAs.
- MIS accuracy 99% (validated datasets; reconciliation with insurer/TPA bordereaux).
- Automation coverage (share of reports auto‑generated; reduction in manual cycle time).
- Data‑governance compliance (IRDAI readiness, audit trail completeness, secure India‑resident storage).
Required Skills & Tools
- Excel (Pivot, VLOOKUP/XLOOKUP, Power Query, VBA), SQL; Power BI/Tableau for dashboards.
- Strong grasp of insurance data: GMC endorsement/claims feeds; Fire & Property risk schedules; Marine voyage/cargo details. Data quality, validation, reconciliation; documentation & SOP writing.
Qualifications
- Bachelor’s degree in Commerce/Statistics/IT (post‑grad or insurance certifications are a plus).
- 2–5 years MIS/reporting experience, ideally in Insurance/BFSI (broker/insurer/corporate TPA).
Nice‑to‑Have / Added Advantage
- Familiarity with IRDAI brokers/intermediary’s framework and master circulars impacting claims timelines and data transparency.
- Exposure to renewal strategy—balancing risk retention vs transfer; understanding claims ratio impact on pricing.
Why This Role Matters
Corporate insurance programs demand timely renewals, clean data, and disciplined governance. An effective MIS Executive is pivotal for credible underwriting submissions, competitive quotations, and management insight—while ensuring regulatory‑grade information stewardship.
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