Co-Insurance Processors

Company : Universal Sompo General Insurance Co.

Job Description - Co-Insurance Processors

Description

Responsible for the accurate and timely calculation, validation, reconciliation, and disbursement of commissions payable to brokers, agents, intermediaries, or sales teams. The role involves managing commission operations, ensuring compliance with organizational policies and regulatory requirements, resolving commission-related queries, and coordinating with Sales, Operations, Finance, and IT teams. The incumbent monitors commission expenses, prepares management reports, strengthens financial controls, and drives process improvements to enhance accuracy, efficiency, and stakeholder satisfaction.

Responsibilities

Manage end-to-end commission calculation and payout processes for brokers, agents, intermediaries, and sales teams.
Validate premium collections, policy issuance data, endorsements, cancellations, and renewals before commission processing.
Calculate commissions as per approved commission structures, agreements, and regulatory guidelines.
Reconcile commission payable accounts with finance and accounting records.
Review and resolve commission-related discrepancies, disputes, and stakeholder queries.
Ensure timely and accurate commission payouts while adhering to defined SLAs.
Monitor commission expenses and prepare MIS reports for management review.
Coordinate with Sales, Operations, Finance, and IT teams for commission data validation and system enhancements.
Ensure compliance with IRDAI/company policies, brokerage agreements, and audit requirements.
Perform commission provisioning, accrual calculations, and monthly closing activities.
Conduct periodic audits and controls to identify calculation errors and mitigate financial risks.
Analyze commission trends and recommend process improvements to enhance efficiency and accuracy.

Qualifications

B. Com/MBA Finance with 5 + exp

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Co-Insurance Processors

Job Description - Co-Insurance Processors

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