Insurance Team Lead

adani capital pvt ltd; Ahmedabad District; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

Adani Capital Pvt Ltd is seeking a seasoned Team Lead - Insurance to oversee risk transfer strategy, renewal management, and claims analytics. You will coordinate with the CFO, drive RFP processes, and enhance centralized policy management.

The role emphasizes governance, compliance with regulations, and building strong ties with insurers and reinsurers while driving digitization and automation across insurance operations.

Qualifications

• Must have strong experience in risk transfer strategy and insurance management.
• Experience leading renewal processes with CFO and Financial Controller.
• Proven ability to manage RFPs and create NFAs for governance.

Responsibilities

• Lead risk transfer strategy and insurance management, coordinating with business units to assess risks.
• Lead annual insurance renewal and negotiate terms with insurers/reinsurers.
• Manage RFPs for insurance types and prepare NFAs for governance compliance.
• Oversee claims management, data analytics for forecasting trends, and digitization of documents.
• Build and maintain relationships with local and global insurers, brokers, and InsurTech partners.

Job description

Team Lead - Insurance Responsibilities

• Risk Transfer Strategy Execution & Insurance Management: Lead the assessment of emerging global risks, including climate-related, cyber, and geopolitical risks, to ensure the groups insurance portfolio remains adaptive. Support the Group Head in the reinsurance procurement process for high-value and complex risks, collaborating with reinsurers to secure optimal coverage for emerging risks. Lead the insurance needs analysis for new assets, acquisitions, and business ventures by coordinating with business units and technical teams to assess operational risks. Ensure proper coverage for all new acquisitions and ventures by engaging with local insurers and reinsurers. Ensure timely endorsements for new assets or additional coverage needs, minimizing exposure to risk by guaranteeing that insurance is in place before assets become operational.
• Comprehensive Insurance Renewal: Lead the annual insurance renewal process for all assets and liabilities, ensuring that insurance terms are reviewed and adjusted based on changes in asset values and risk profiles. Collaborate with the CFO (Chief Financial Officer) and Financial Controller to ensure approval of the renewal strategy before proceeding to market, and maintain constant communication to update them on any changes. Engage with the market to obtain competitive renewal terms, negotiating directly with insurers and reinsurers to achieve the best possible premium rates and coverage conditions.
• Request for Proposals (RFPs) Management: Manage the preparation and issuance of Request for Proposals (RFPs) for various types of insurance, ensuring clear communication of the groups requirements to insurers. Lead the creation of NFAs (Notes for Approval) to ensure adherence with corporate governance standards.
• Claims Management & Settlements: Lead the claims management process, ensuring efficient assessment, documentation, and settlement in compliance with policy terms. Collaborate with third-party adjusters and surveyors to ensure accurate claims evaluation and timely settlement. Lead the development of data analytics framework for forecasting claims trends, improving decision-making, and reducing the risk of future claims. Lead the digitization of policy and claims documentation, ensuring all records are easily accessible and stored in a central repository.
• Market Relations: Build and maintain strong relationships with local and global insurers, reinsurers, and InsurTech companies to secure competitive quotes and favourable terms. Negotiate with insurance brokers to ensure alignment between the groups risk profile and available coverage. Actively engage with facultative reinsurers when necessary, securing reinsurance policies either through direct outreach or intermediaries to cover high-value or complex risks.
• Insurance Operations & Process Standardization: Lead the execution of standardization of insurance processes across the organization, ensuring consistency in policy procurement, claims reporting, and documentation management. Supervise the development and integration of standardized insurance-related forms, ensuring compliance and efficiency across business units.
• Negotiation and Finalization of Insurance Policies: Lead multi-round negotiations with insurers to finalize terms for both new policies and renewals, focusing on achieving the best coverage limits, deductibles, and premiums. Ensure accurate communication of risk details and coverage to the insurers.
• Corporate Governance & Compliance: Ensure compliance with insurance regulations, including SEBI, IRDAI, and regional standards, across the groups insurance activities. Lead preparation of compliance reports, including insurance certifications and auditor reports for statutory filings. Work closely with legal and compliance teams to ensure that all insurance contracts align with corporate policies and regulatory standards.
• Risk Identification & Business Interface: Lead identification of new and emerging risks across the groups operations, ensuring effective mitigation strategies are implemented. Lead the establishment of a robust third-party risk management framework, ensuring vendors, suppliers, and contractors working with the group are covered by appropriate liability insurance. Collaborate with business units to update the insurance portfolio, addressing changes in the risk landscape.
• Digitization and Automation: Lead the digitization of the insurance function, including the development of a centralized bid management system to streamline procurement and enhance operational efficiency. Drive automation of insurance-related processes, including the development of a digital insurance management system to generate automated workflows for claims management, premium payments, and coverage renewals. Integrate AI-driven tools for predictive risk modelling to optimize coverage, minimize premium costs, and improve operational efficiency.
• Cross-Departmental Collaboration and Team Lead