General Insurance Manager

AVENTINE AGENCY PTE. LTD.; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A financial services company in Singapore seeks an Insurance Manager to oversee the insurance portfolio, develop strategies, and manage claims. The ideal candidate has 5+ years in insurance broking or underwriting, with strong negotiation skills and a solid understanding of insurance programs and market trends.

Qualifications

• 5+ years of experience in the insurance broking or underwriting industry.
• Excellent communication and negotiation skills with brokers.
• Strong understanding of insurance claims handling.

Responsibilities

• Manage Group’s insurance portfolio and develop strategies for insurance needs.
• Procure new insurance policies and negotiate terms with brokers.
• Oversee insurance claims from notification to settlement.

Skills

Communication skills

Understanding of insurance programs

Negotiation skills

Analytical skills

Market trend knowledge

Education

Bachelor’s Degree in Law / Business Administration / Finance / Economics

Job description

Roles & Responsibilities

Insurance scope

• Responsible for Group’s existing insurance portfolio
• Reviews and critically assesses the risks and insurance needs of the Group for existing portfolio of assets and operations, and develops insurance strategies for current and future needs
• Procures new insurance policies taking into account business needs and keeps tabs on insurance developments and trends in the energy insurance market
• Updates underwriting information for insurance renewals and obtains feedback from internal departments to assess adequacy of insurance coverage
• Evaluates and negotiates premium rates, insurance terms with brokers and underwriters
• Analyses and updates financial ratings of brokers and underwriters annually
• Establishes a good working relationship with a panel of brokers and underwriters
• Develops and implements policies and SOPs on insurances for the Group
• Rolls out a playbook containing a summary of the Group’s main insurances for internal departments to reference to when negotiating contracts

Project insurances

• Reviews insurance requirements of contracts, understands work scope and maps out insurance risk gap analysis in order to procure project specific insurance programs

Audit of assets and insurances:

• Engages appraisers / insurance consultants to review the valuation of the Group’s assets and adequacy of the Group’s insurance

Insurance claims and administration:

• Reports and manages all insurance claims from notification of the claims up to settlement of the claims
• Manages database of insurance policies and claims across the Group, including subsidiaries and overseas investments and facilitates renewals and enquiries
• Provides updates to Internal Audit team and Senior Management

Requirements

• Bachelor’s Degree in Law / Business Administration / Finance / Economics or equivalent
• Minimum 5 years of proven experience in insurance broking or underwriting industry
• Possess excellent communication skills with savvy approach when dealing with insurance brokers and underwriters
• Strong understanding of insurance programs and handling insurance claims
• Well informed of insurance market trends and issues