Manager – Insurance

SSGC LPG Limited; Karachi Division; On-site; PKR 1,800,000 - 3,000,000; Full time

Job summary

SSGC LPG Limited seeks a Finance/Insurance professional to support the section head in arranging adequate insurance cover for the company’s assets and employees at minimal cost. The role includes policy administration, underwriting and claims management, with recoveries in cases of damages.

The incumbent will manage asset and employee insurance programs, coordinate with various internal departments, and ensure compliance with Enterprise Risk Management practices.

Qualifications

• Master’s degree in Finance, Insurance or Risk Management (18 years of education) from an HEC recognized university with at least 4 years of experience.
• Insurance related professional qualification Dip CII, ARM or CPCU preferred.

Responsibilities

• Assess company insurance needs and exposure to loss periodically.
• Invite proposals from insurance companies and obtain competitive options.
• Evaluate proposals, identify deletions or riders, and compare for best cover and value.
• Coordinate with custodians on asset details and inform insurers of changes in value or location.
• Assist in securing insurance cover for imported cargo and coordinate with Procurement for imports.

Skills

Risk management

Insurance

Finance

Education

Master’s degree in Finance, Insurance or Risk Management

Job description

Master’s degree in Finance, Insurance or Risk Management (18 years of education) from HEC recognized University with at least 4 years of experience

Insurance related professional qualification Dip CII, ARM or CPCU will be preferred.

Responsibilities:

JOB SUMMARY

The main purpose of this position is to support section head in arranging adequate insurance cover for the company’s assets and employees at minimal cost. The incumbent is also responsible to manage policy administration, underwriting and claims management and recoveries in cases of damages.

JOB RESPONSIBILITIES

• Periodically assess the insurance needs of the company in terms of exposure to loss from various causes and probable amount of loss.
• Support management in inviting proposals from insurance companies for covering the company against losses.
• Evaluate the terms of various proposals received from insurance companies, identify aspects to be deleted or riders to be attached and obtain revised proposals allowing for useful comparisons with different insurance proposals.
• Periodically assess the insurance needs of the company in terms of exposure to loss from various causes and probable amount of loss.
• Support management in inviting proposals from insurance companies for covering the company against losses.
• Evaluate the terms of various proposals received from insurance companies, identify aspects to be deleted or riders to be attached and obtain revised proposals allowing for useful comparisons with different insurance proposals.
• Support management in developing recommendations for insurance cover to be obtained for various assets and employees of the company and secure approval from respective authority.
• Periodically coordinate with the custodians of the company’s assets to obtain up to date information about the physical condition of the assets and any additions or deletions and promptly inform the insurance company of any material change in value or location of insured assets.
• Obtain information of various types of goods imported by the company, suggest the type of insurance cover to be obtained and recommend the strategy to apply for insurance cover of imported cargo.
• Coordinate with imports (Procurement Department) to obtain details of imports and assists in securing insurance cover for various consignments.
• Review tender evaluation reports prepared by Procurement and recommend award after ensuring all rules and guidelines have been met as per Public Procurement Rules (PPR) and as per prescribed Standard Operating Procedures (SOPs) of SSGC.
• Liaise with excise and shipping for filing of claims relating to loss on imported consignments.
• Coordinate with respective user department for obtaining details of vehicles owned or leased by the company and any changes in additions or deletions thereto and inform the concerned insurance companies.
• Obtain employee details from user department (Human Resources) and advise the changes to the insurance companies providing life, health, accident or other types of cover to employees.
• Maintain up to date record if insurance policies, assets, and risks covered and maturity dates of policies.
• Maintain communication with SSGC’s departments to obtain details of any losses and ensure prompt survey and filings of claims.
• Follow up on insurance claims until settled and ensure prompt banking of collections from insurance companies.
• Dealing with Govt.
• Auditors on most frequent basis. Providing them required files and records, explaining the gaps and justifying the transactions.
• Dealing with External Auditors by providing them schedules of all the GL accounts pertaining to all types of insurances.
• Justifying the credit and debit balances of GL accounts.
• Dealing with Internal auditors by providing them required documents and polices.
• Discussing with them the gaps and possible opportunities or the areas of improvements to have quality control measures and to adopt continuous improvement approach.
• Corresponding with internal stakeholders for arranging death claim documents and resolving queries.
• Corresponding with external stakeholders i.
• e. insurance companies (EFU Life, State Life and Jubilee Life).
• Corresponding with internal stakeholders for arranging death claim documents and resolving queries.
• The individual shall ensure compliance to the Enterprise Risk Management Framework enforced in the Company while performing job responsibilities in accordance with his assigned role.
• The individual shall ensure compliance to the Business Principles and Ethics Policy / Code of Conduct.
• Undertake any other task assigned by the management.

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