Associate - Group Insurance

Job Summary

We have an opportunity for a Associate – Group Insurance (UAE National Only)

Key Accountabilities

Strategic Contribution

• Provides recommendations for policy coverage changes as required for current or new risks and exposures,
• Identify areas where savings may be achieved through revised terms of coverage, amount of deductible, indemnity periods and low claims bonuses
• Collects details/information for underwriters/brokers risk reviews and programme renewal
• Reviews and ensures the integrity of data and management reports for the entire Insurance Portfolio including ownership of internal and external presentations

Insurance Services & Advisory Management Supports the preparation of tender and related documentation for brokering services/insurance policies, evaluation of responses and presentations to the management/committees

Information Management

• Processes relevant notifications to Security Trustee, Administrative Agent and Facility Agents
• Prepares required documentations and forwards to relevant loan compliance governing parties to evidence the payment of policy premiums
• Provides administrative and facility agents with Broker’s Letters of Undertaking for each insurance within the stipulated period
• Processes requests and delivers onshore and offshore Notices of Assignment for eligible insurance policies
• Manages the updating and maintenance of all corporate insurance data such as policies, insurers’ security ratings, premiums, claims, deductibles and risk details in the insurance register/files
• Seeks endorsements for all material construction and operational insurances and reinsurances in favour of the Security Trustee

Communication and Networking

• Mentors team colleagues and provides leadership and technical / operational guidance
• Establishes and maintains positive relationships with insurance advisors, underwriters and other stakeholders
• Establishes and maintains excellent internal relationships with all stakeholders [Operations and Corporate]

Claims Management / Risk Improvement Recommendations

• Coordinates brokers and underwriters engineering survey visits to the plant site and prepares monthly progress/status report on the implementation of loss prevention recommendations
• Supports the handling, management and reporting of all insurance programme claims, which includes preparation/review of claims adjustments, coordination of surveyors visits and claim data collection and review
• Administers claims notifications system to area owners

Company Insurance Awareness and Compliance

• Prepares and releases monthly Corporate Insurance report along with all insurance related periodic declarations and other departmental reports
• Supports the process of translating insurance programme’s terms, conditions and warranties into clear guidelines for all responsible area owners
• Reporting
• Supports the preparation of management/committees presentations/updates in what relates to Corporate Insurance

Day-to-day Operations

• Manages all aspects of protection systems, impairment notification to insurers
• Reviews and processes in timely manner the endorsements/payments/refunds that relates to Insurance policies and claims

Enterprise Risk Management (ERM)Participates in the analysis and development of risk mitigation/transfer strategies in support of the Enterprise Risk Management team

Safety, Quality & Environment Ensures compliance to all relevant safety, quality and environmental management policies, procedures and controls across the section in order to guarantee employee safety, legislative compliance and a responsible environmental attitude

Related Assignments Performs other related duties or assignments as directed

Desired Qualifications, Skills and Experience

• Interpersonal skills
• Data mining, analysis and excellent reporting skills
• Advanced MS Excel, Word and Powerpoint Skills
• Experience of SAP system or similar ERP system.
• Bachelor’s degree in Economics, Finance, Accounting, Engineering or equivalent
• Insurance Qualifications [CII] or working to obtain the same.
• 5 years in a role of similar nature
• Effective communication skills