TORQ Commodities – Senior Manager – Group Insurance Torq Commodities

The Corporate Institute; Mumbai; On-site; INR 1,500,000 - 2,300,000; Full time

Job summary

The Corporate Institute in Mumbai seeks an experienced Insurance Manager to oversee the TORQ Group’s insurance portfolio, managing policies, renewals and claims from end to end. The role covers domestic and international movement of goods and requires coordinating with Finance, Legal and Trading teams.

Ideal candidates will monitor policy conditions, ensure adequate coverage, and drive timely settlements while maintaining audit-ready records and strong relationships with insurers and brokers.

Responsibilities

• Manage TORQ Group’s insurance portfolio to insure assets, stock, liabilities and people.
• Maintain records of policies, endorsements, certificates, coverage limits, deductibles and renewals.
• Monitor policy conditions and notifications to protect recovery under policies.
• Coordinate premium payments, reconciliations, refunds and policy adjustments with Finance.
• Provide required insurance documents to customers, suppliers, lenders and others.
• Manage insurance for international and domestic movement, storage and handling of commodities.
• Review cargo values, policy limits, and supporting documents to reduce uninsured exposure.
• Own insurance claims from first notification to settlement and closure.
• Coordinate surveyors, loss adjusters, investigators, and insurers as required.
• Negotiate with insurers and brokers, challenge coverage or settlements when needed.
• Manage salvage, subrogation, and audits; track multi-jurisdictional claims and exposures.
• Interpret policy wording, exclusions, and duty to notify; present TORQ’s position to insurers.

Job description

Total Experience: 5 – 8 years

Key Responsibilities:

• Manage and coordinate TORQ Group’s insurance portfolio to ensure that business activities, assets, stock, liabilities, and people are appropriately insured.
• Maintain complete and accurate records of policies, endorsements, certificates, coverage limits, deductibles, warranties, and renewal dates.
• Monitor policy conditions, warranties, and notification requirements to protect the Group’s ability to recover under its policies.
• Coordinate premium payments, reconciliations, refunds, and policy adjustments with Finance and other relevant teams.
• Provide insurance documents required by customers, suppliers, lenders, landlords, and other contractual counterparties.
• Manage insurance requirements arising from the international and domestic movement, storage, and handling of commodities.
• Review imports, exports, cross-border trades, inland movements, warehousing, and multimodal shipments from an insurance perspective.
• Work with Trade Operations, Logistics, and Trading teams to ensure that shipments and inventories are declared correctly and adequately insured.
• Review cargo values, declarations, policy limits, and supporting documents to reduce uninsured and under-insured exposures.
• Assess the insurance implications of Incoterms, title and risk transfer, warehousing, freight, and chartering arrangements.
• Own insurance claims from first notification through settlement, recovery, and closure.
• Assess available coverage, define claims strategy, and ensure timely notification.
• Collect, review, and organise the evidence and supporting documents required for each claim.
• Coordinate surveyors, loss adjusters, investigators, lawyers, and other specialists as required.
• Negotiate with insurers and brokers, respond to queries, challenge coverage or settlement positions where appropriate, and pursue timely resolution.
• Manage salvage, recovery, and subrogation matters where applicable, and maintain a complete audit trail.
• Manage claims involving multiple jurisdictions, overseas insurers and brokers, shipping lines, warehouses, freight counterparties, and external counsel.
• Interpret policy wording, exclusions, deductibles, warranties, and coverage positions.
• Present TORQ’s position clearly and commercially to insurers, brokers, and advisers.
• Drive disputed, delayed, and technically complex claims forward, escalating material issues when necessary.
• Work closely with the Head of Marine Operations throughout insurance placement and renewal exercises.
• Gather and validate underwriting information, exposure data, and claims histories.
• Prepare insurance submissions and supporting information for the market.
• Review quotations, policy wording, exclusions, warranties, deductibles, limits, and sub-limits.
• Participate in negotiations with brokers and insurers, and benchmark coverage and premium terms.
• Identify coverage gaps and recommend practical improvements or alternative solutions.
• Identify insurable risks arising from new products, markets, geographies, contracts, logistics structures, and business activities.
• Work with Legal, Trade Operations, and commercial teams on insurance and indemnity provisions in sales and purchase contracts, logistics, warehousing, freight, chartering, processing, and financing arrangements.
• Flag adverse insurance provisions, uninsured exposures, and contractual obligations that require additional cover.
• Recommend appropriate insurance solutions and practical risk-mitigation measures.
• Maintain effective working relationships with insurers, brokers, and specialist advisers.
• Coordinate with surveyors, loss adjusters, investigators, marine consultants, claims advisers, and external lawyers.
• Monitor service delivery, maintain momentum on open matters, and elevate performance or responsiveness concerns when required.
• Provide accurate management information and strengthen insurance processes across the Group.
• Maintain clear reporting on policies, premiums, notified and outstanding claims, settlements, recoveries, exposures, and renewals.
• Analyse claims trends and recurring loss events, and recommend practical preventive measures.
• Improve insurance processes, documentation standards, and internal awareness across relevant TORQ teams.