Senior Manager Insurance

heromotocorp; Gurugram District; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Hero MotoCorp, headquartered in New Delhi, is hiring to lead the insurance function across the organization. The role covers procuring and servicing all insurances, handling claims, and advising on best practices to protect company interests.

The candidate will liaise with insurers, manage GST-related invoicing for credits, and drive automation to minimize manual work. A background in general and medical insurance is preferred.

Qualifications

• Significant industry experience – at least 5 to 10 years of experience.
• University Degree Holder / MBA
• Diploma / Fellow / Degree from Insurance Institute of India.

Responsibilities

• Handle the insurance function as a single point of contact for the Company, its employees, dealers and insurers.
• Ensure that the interests of the Company are protected and adequately covered.
• Liaise with insurance companies to obtain quotes, timely payments, approvals, reconciliation and other requirements.
• Procure and service all kinds of insurance; evaluate, process and track claims.
• Advise management on insurance matters and best practices; look for process automation to improve efficiency.

Skills

General Insurance

Communication skills

English proficiency

Education

MBA

Insurance Institute of India qualification

University Degree

Job description

Job Description:

Function

Finance

Pay Band

M3 to M5

Role

Insurance is a way of managing risks. Accidents and disasters do happen and if one is not adequately insured, accidents can leave a Company in financial ruins. Insurance is thus, one of the most critical function in a Company which ensures that all the assets, procurements, dispatches, storages, liabilities etc. are adequately covered against any natural / unnatural loss. In a manufacturing set up, insurance covers not only the manufacturing and storage facilities but it also covers goods in transit, risks of stockists, employees, brand ambassadors, liability to directors etc. Accordingly, the importance of insurance cannot be underestimated in any organization. HMCL is subject to all the risks mentioned above and is therefore looking for an experienced hand to handle the insurance function. The candidate will be responsible for the entire insurance function for HMCL in all the areas of insurance.

A purpose driven role for you

• Handle the insurance function as a whole as a single point of contact for the Company, its employees, its dealers and the insurance Company;
• Ensure that the interests of the Company are protected and the Company is adequately covered;
• Liaisoning with the insurance companies to ascertain the eligibility of an insurance Company, obtain quotes, timely payments, approvals, reconciliation and other requirements;
• Responsible for procuring and servicing all kind of insurance;
• Evaluation, processing and handling of claims for the Company, employees etc. and tracking the status;
• Ensuring the insurance companies timely report GST invoices correctly on GST portal so that the Company is able to claim Input Tax Credit, wherever available;
• Drafting insurance proposals and associated correspondences;
• Responsible for filing claims with the insurance companies in respect of superannuation, gratuity, leave encashment, EDLI etc. and making payment on receipt of the claim;
• Entertains employees’ queries regarding policy coverage;
• Liaise with accounting team and providing details of expenses to be booked and the accounting entries;
• Filing the declarations with the insurance companies and carrying out compliances, wherever required;
• Coordinating with insurance companies for updates, new policies, rules & regulations and its impact on the Company;
• To advise the management on insurance matters and the best practices;
• To bring automation in all the processes of the insurance to minimize repetition, enhance efficiency and minimize human intervention;
• Maintaining contact with the Company’s legal department regarding the legal cases, Government’s rules, regulations, new updates and changes in policies, mergers and acquisitions.

A Day in the life

• Handle the insurance function as a whole as a single point of contact for the Company, its employees, its dealers and the insurance Company;
• Ensure that the interests of the Company are protected and the Company is adequately covered;
• Liaisoning with the insurance companies to ascertain the eligibility of an insurance Company, obtain quotes, timely payments, approvals, reconciliation and other requirements;
• Responsible for procuring and servicing all kind of insurance;
• Evaluation, processing and handling of claims for the Company, employees etc. and tracking the status;
• Ensuring the insurance companies timely report GST invoices correctly on GST portal so that the Company is able to claim Input Tax Credit, wherever available;
• Drafting insurance proposals and associated correspondences;
• Responsible for filing claims with the insurance companies in respect of superannuation, gratuity, leave encashment, EDLI etc. and making payment on receipt of the claim;
• Entertains employees’ queries regarding policy coverage;
• Liaise with accounting team and providing details of expenses to be booked and the accounting entries;
• Filing the declarations with the insurance companies and carrying out compliances, wherever required;
• Coordinating with insurance companies for updates, new policies, rules & regulations and its impact on the Company;
• To advise the management on insurance matters and the best practices;
• To bring automation in all the processes of the insurance to minimize repetition, enhance efficiency and minimize human intervention;
• Maintaining contact with the Company’s legal department regarding the legal cases, Government’s rules, regulations, new updates and changes in policies, mergers and acquisitions.

Academic Qualification & Experience

• Candidates must have significant industry experience - at least 5 to 10 years of experience;
• University Degree Holder / MBA
• Diploma / Fellow / Degree from Insurance Institute of India.

Technical Skills/Knowledge

• Familiar with standard concepts, practices and procedures in General and Medical Insurance;
• Excellent written and verbal communication and interpersonal skills;
• Excellent level of spoken English.

Behavioural Skills

• Time management
• Customer Focus
• Relationship Building
• Problem Solving
• Conflict Management

What will it be like to work for Hero

As theworld’s largest manufacturer of motorcycles and scooters for the last22 years, Hero is where you will get to work with the brightest innovators, passionate about being the best in what they do. You will become a part of India’s proudest legacy, a brand that is celebrated by110 million Indiansand is now taking over the world with its manufacturing superpower. If you are someone who dreams big and goes after their dreams with absolute conviction, Hero is your place to be. At Hero, we are building a cutting-edge future of mobility, pushing frontiers of innovation and aiming for the very best.Choose to be with the best, choose to be your best.

About Hero

Headquartered in New Delhi (India),Hero MotoCorp is theworlds largest manufacturer of motorcycles and scooters for 22 consecutive years. We are at the forefront of developing modern, technologically superior and eco-friendly mobility solutions for its millions of customers around the world.

Hero MotoCorp has rapidly transformed into a true multinational organization with a presence in47 countriesacross Asia, Africa, Latin America and the Middle East.

We have achieved the coveted milestone of110 million cumulative productionand sales since inception. Aligned with its Vision“Be the Future of Mobility”, Hero MotoCorp plans to achieve its next100 million sales by 2030.

We have a globally benchmarked manufacturing and Research & Development (R&D) ecosystem that is spread across global geographies. Its R&D facilities are located in India and Germany - the Centre of Innovation and Technology (CIT) at Jaipur, India, and the Tech Centre Germany (TCG), near Munich. Hero MotoCorp’s eight ‘green’ manufacturing facilities are spread across India (6), Colombia (1) and Bangladesh (1).

Hero MotoCorp is the pre-eminent leader in the Indian two-wheeler market. It is the only motorcycle manufacturing company listed in Dow Jones Sustainability Index.

In 2022, Hero MotoCorp launched a separate brand for emerging mobility solutions, including Electric Vehicles (EV) -VIDA, Powered by Hero. VIDA has commenced sales of VIDA V1 – its first EV – in India and plans to launch the product in global markets.

We are one of the largest global corporate promoters of multiple sporting disciplines. Hero is globally associated with golf, football, field hockey, cricket and motorsports. Hero MotoSports Team Rally is one of India’s flag-bearers in global rally racing. The iconic golfer Tiger Woods is Hero MotoCorp’s Global Corporate Partner.

Read moreabout us.

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