Manager - Life Insurance

emarat maritime, llc; Mumbai; On-site; INR 4,000,000 - 8,000,000; Full time

Job summary

EMARAT Maritime LLC seeks a senior leader to head the Marine Insurance & Claims Department in Mumbai. You will oversee the end-to-end lifecycle of insurance and claims, including policy placements, risk mitigation, and regulator compliance.

Lead a team, coordinate with brokers and insurers, and approve high-value settlements in line with governance. This role demands deep maritime insurance expertise and strategic leadership.

Qualifications

• Master's in law or risk/insurance law is required.
• 10–15 years in marine insurance/claims handling.
• At least 3 years in leading insurance initiatives.

Responsibilities

• Lead the Marine Insurance & Claims (MI&C) Department.
• Act as the authorized contact for marine insurance and claims.
• Represent EMARAT Maritime LLC as the Group Principal in insurance matters.
• Ensure implementation of marine insurance procedures across the org.
• Oversee policy coverage, placements, certificates and claims.
• Approve high-value settlements and policy issuances with MD/CFO.
• Ensure compliance with policy terms and international regulations.
• Lead risk mitigation, renewals, endorsements and premium structures.

Education

Master's in law, or Risk Management or Insurance law

Tools

ERP systems

Job description

Responsibilities

• Serve as the overall leader of the Marine Insurance & Claims (MI&C) Department.
• Act as the authorized point of contact and escalation for all Marine Insurance and Claims mentioned in the departmental manual (COP).
• Represent EMARAT Maritime LLC as the Group Principal in all marine insurance and claims policies and functions.
• Ensure comprehensive implementation of all marine insurance procedures across the organization.
• Maintain oversight of Marine insurance policy coverage, placements, certificates, and claims.
• Approve high-value decisions in consultation with MD/CFO, including settlements and policy issuances.
• Uphold compliance with Marine insurance policy terms and international regulations.

Risk Assessment & Policy Management

• Lead all insurance policy planning and risk mitigation initiatives.
• Act as the strategic decision-maker for placement and renewal of all marine insurance lines.
• Review and approve insurance renewals, endorsements, and premium structures.
• Assess risks related to voyages (e.g., war zones, piracy areas) and advise on War Risk/K&R/INL.
• Validate statutory and financial coverage for port entries as per departmental manual.
• Monitor policy expiration timelines and initiate renewals with brokers as needed.

Claims Management & Settlement

• Oversee the complete life cycle of insurance claims, ensuring timely resolution and compliance with insurer protocols as per the departmental manual.
• Manage complex or high value claims as per the approval structures in the manual / ERP.
• Review all incoming claims (P&I, H&M, FD&D, LOH) and ensure accurate registration in the system.
• Ensure claim files are closed with complete documentation and reimbursement.

Team Performance Management

• Ensure optimal departmental structure, delegation, and staff performance.
• Assign duties to IOs, SCEs, and IEs based on claim or policy complexity.
• Conduct regular reviews of claim closures, ERP entries, and broker interactions.
• Oversee internal claims summary updates and compliance with Departmental manual.
• Identify areas for performance improvement and implement corrective measures.

Training, Development & Knowledge Management

• Facilitate regular training on policy requirements, claim handling, and compliance.
• Maintain an up-to-date digital repository of policies, procedures, claim trackers, and audit logs.
• Share updates on international regulatory changes and insurer requirements.
• Encourage internal knowledge sharing and succession planning.

Regulatory Compliance & Audit Coordination

• Ensure the MI&C Department meets all internal and external compliance and audit requirements.
• Verify that vessels maintain valid certificates required for port entry as per the ERP system.
• Facilitate internal audits and external insurer audits, ensuring timely data submission.
• Lead the closure of audit observations and preventive action implementation.
• Act as the primary contact for all marine insurance brokers, clubs, surveyors, and legal teams.
• Appoint and evaluate performance of brokers and claims handlers.
• Coordinate with legal teams for complex disputes or FD&D matters.

Reporting, Analysis & Strategic Inputs

• Provide leadership-level reporting and strategic direction based on risk and claim trends.
• Prepare risk reports and insurance summaries for MD/CFO and board-level review.
• Analyze claim frequency, deductible impact, and loss ratios to recommend changes.
• Coordinate with internal stakeholders on insurance issues.
• Facilitate effective communication during vessel incidents and claim activations.

Additional Contact Roles

• Represent the Group Principal in insurance policies, ensuring unified policy placement and claims management of the team.
• Act as the point of contact for brokers, insurers, and legal representatives.
• Coordinate consolidated risk positions.

Qualifications & Experience

• Master's in law, or Risk Management or Insurance law.
• Minimum 10-15 years experience in marine insurance/claims handling, including at least 3 years in heading insurance.
• Strong understanding of Marine insurance policies, claim processes, and marine insurance rules and regulations.
• Team management & Leadership qualities.
• Experience with ship owners and managing a portfolio of vessels.
• Familiarity with all types of insurance such as HNM, P&I, Loss of Hire.
• Experience in claim handling.
• Office: Emarat Shipping Management India Private LTD, E wing office, unit no 7, 5th floor Times Square Premises, CTS No 758/759, opp Mittal Industrial State, Marol Andhere East, Mumbai.