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About the Role
This position involves providing optimum insurance and risk management services to the entire Group for applicable risks. The role includes developing cost-effective risk transfer and retention strategies, ensuring timely claims settlement, and fostering risk awareness and mitigation across the Group.
Roles & Responsibilities
- Provide insurance and Risk Management support to Group companies after thorough understanding and analysis of applicable risks.
- Evaluate innovative and cost-effective solutions while keeping abreast of the latest insurance industry trends and developments.
- Develop and define a cost-effective risk transfer and retention strategy covering all operating units of the Group.
- Provide leadership and operational support to Business Units (BUs) for timely claims registration and management of the claim settlement process.
- Cultivate effective relationships with insurers, intermediaries, and surveyors.
- Enhance risk awareness and mitigation strategies in BUs. Aid BUs in improving their risk profiles through periodic internal and external surveys, seminars, and guidance notes.
- Build and maintain an effective, efficient, and motivated team.
KPIs
- Risk management: ensuring optimum insurance cover for applicable risks.
- Risk mitigation: improving risk profiles of BUs.
- Development and implementation of risk transfer and retention strategy.
- Effective claims management.
- Providing insurance and risk guidance.
- Team building and development.
Work Experience Requirement
A minimum of 12 years of experience, including 5 years in a leadership role, independently handling an insurance portfolio exceeding $1 billion in reputable insurance companies or industries.
Qualification
- A Master's degree in Management or a Diploma in Insurance and Risk Management.
- Fellowship from the Chartered Insurance Institute, UK, or a similar professional designation.
Competencies
- Claims Management
- Knowledge of Insurance Industry Developments
- Understanding of Insurance Policy Clauses
- Familiarity with Leading Market Practices
- Self and Team Management Skills
- Strategic Thinking Ability
- Ownership & Result Orientation
- Planning & Decision-Making Skills
- Change Management Expertise
