Manager – Insurance

Piramal Pharma Ltd; Mumbai; On-site; INR 1,800,000 - 3,000,000; Full time

Job summary

Piramal Pharma Ltd in Mumbai is seeking a Manager – Insurance to design and manage the company’s insurance portfolio across India and ROW. You will coordinate policy placement, renewals, claims administration, and operations, ensuring regulatory compliance and robust risk transfer.

Reporting to the AGM – Insurance, you will partner with internal teams and external insurers/brokers to optimize coverage, control costs, and strengthen governance in a dynamic pharmaceutical environment.

Qualifications

• 3–5 years post-qualification experience in insurance, preferably in corporate, broker, or insurer
• Good understanding of insurance products and coverage types
• Excellent oral and written communication; proficient in MS Office
• Experience handling claims across property, marine, trade credit, CGL, cyber, and employee benefits

Responsibilities

• Insurance Policy Placement & Renewals
• Coordinate data for policy renewals across India and ROW
• Analyze exposure data for placement accuracy
• Support benchmarking with brokers for coverage and pricing
• Prepare renewal presentations and underwriting data submissions
• Coordinate premium bookings, payments, and reconciliations
• Maintain MIS, documentation, and audit-ready records
• Assist in reporting, analytics, and process improvements
• Support employee benefits insurance administration in coordination with HR
• Respond to internal stakeholder insurance queries promptly

Skills

Insurance knowledge

Claims handling

Communication

Data analysis

Independent working

Problem solving

Education

MBA in Insurance

IIIndia Associateship/Fellowship

Job description

Job Description

Manager – Insurance

We are looking for a motivated and detail-oriented Insurance Manager to be part of our Insurance team. The Manager – Insurance will be responsible for supporting the design, placement, end-to-end management of the Company’s insurance portfolio across India and Rest of World (ROW). The role ensures optimal risk transfer, effective claims management, and compliance with regulatory and internal governance requirements.

The incumbent will play a critical role in insurance policy placement, claims administration, and operational execution, while partnering with internal stakeholders and external insurers/brokers. The role supports the AGM – Insurance in driving efficiency, strengthening controls, and ensuring adequate insurance coverage aligned with the Company’s risk profile.

Key stakeholders

External

• Insurance Companies
• Insurance Brokers
• Surveyors
• TPAs

Internal

• GEEC & HR teams
• Business & Corporate Finance team
• Business Development/Sales team
• Supply Chain & plant operations team
• Shared Service functions
• CS, Legal & IT teams

Reporting structure

Role directly reports to Associate General Manager – Insurance

Essential Qualifications

Graduate / Postgraduate with relevant insurance experience in handling claims, insurance placement process and allied activities related to smooth functioning of insurance department or MBA in Insurance or Associateship / Fellowship from Insurance Institute of India will be preferred.

Essential Skills & Experience

• Relevant post qualification work-experience of 3 to 5 years mainly in insurance department of a corporate or an insurance broker or insurance company
• Good understanding and knowledge of insurance products
• Excellent in oral, written communication, excel and MS office applications.
• Prior experience in handling claims mainly property, marine , trade credit, CGL, cyber-crime, and employee benefit insurance policies.
• Ability to work independently and as part of a team
• Strong problem-solving abilities and willingness to take initiative
• Ability to maintain confidentiality and handle sensitive information with integrity
• Experience in pharmaceutical, healthcare, manufacturing or multinational organizations will be an added advantage.

Job Conditions

Full-time position with standard working hours.

Role And Responsibilities

• Insurance Policy Placement & Renewals
• Coordinate data collation from domestic and international business units for policy renewals
• Analyze and validate exposure data to ensure accuracy and completeness for placement
• Support benchmarking exercises with brokers to ensure competitive coverage and pricing
• Facilitate timely submission of underwriting data and respond to insurer/broker queries
• Assist in preparation of renewal presentations, including roadshow coordination
• Evaluate quotations, prepare comparative analyses, and support management decision-making
• Coordinate for premium booking, payments, and reconciliations
• Insurance Operations & Administration
• Manage day-to-day insurance operations including MIS, documentation, endorsements, and record management
• Ensure robustness and accuracy of insurance data in internal systems
• Maintain complete and audit-ready documentation of policies and claims
• Support employee benefits insurance administration in coordination with HR, TPAs, brokers, and insurers
• Assist AGM – Insurance in reporting, analytics, and operational improvements
• Prompt response to internal stakeholders on insurance queries to support business requirements
• Claims Management
• Ensure timely intimation and registration of all claims across policies
• Coordinate with surveyors, insurers, and internal stakeholders for efficient claims processing
• Track claims lifecycle, identify bottlenecks, and drive timely settlement and recovery
• Participate in regular claims review meetings and maintain claims dashboards for management reporting
• Compliance & Risk Governance
• Ensure timely submission of declarations under ECGC and Trade Credit policies
• Review policy wordings, endorsements, and coverage terms to ensure accuracy and adequacy
• Monitor insured asset values to prevent underinsurance, over insurance, or duplication of coverage
• Support development and updates of Insurance Handbook for India and global operations
• Ensure adherence to internal controls, audit requirements, and regulatory frameworks
• Risk Assessment & Loss Prevention
• Analyze claim trends and identify recurring risk exposures
• Coordinate risk surveys and loss prevention reviews conducted by insurers
• Track implementation of insurer recommendations across sites
• Support initiatives to reduce loss frequency and severity
• Collaborate with EHS, Quality and Supply Chain, Operations teams on risk mitigation measures