Responsibilities

• Preparation of Quote Formats for GI Products Marine, Fire & Burglary, Workmen Compensation, Public Liability, D & O, GMC, GPA, Motor, Cyber risk, Credit Insurance, Engineering.
• To understand the occupancy / risk being dealt/proposed to be insured by the Client in entirety (mainly Fire, Engineering, Marine, Liability, Group Insurance) which would include understanding nature of business of the client, existing insurance coverage, claim experience and any other aspect which can help in securing good feature discount.
• Examining existing insurance covers and evaluating the risks not covered or required to be omitted for prudential reasons or any other deficiency like inadequacy of sum assured.
• Seeking required information from clients for submission to various insurers.
• Designing RFQ based on the requirement / risk assessment and floating the same to Insurers. Preparation of our own quotations along with the terms or clauses or excess or deductible and insisting for acceptance by selected insurers or seeking quotations from insurers (this would be key task).
• Arranging & Negotiating Best Quotes from the insurers by finding reasons for better rating for the client.
• Preparing Quote Comparison Report and sharing with Sales Team / Client
• Finalizing the Quotation after discussion with Client/ servicing / sales team and coordinating with insurers
• Handling the grievance from all the internal & external customers & give them a satisfactory solution in liaison with other department as well as Head office
• Maintaining good working relationship with insurers
• Checking the actual bond received with the terms of placing the business and getting endorsements done if required.
• Remaining self-updated about non-conventional products like Liability, Credit Insurance etc. and helping by providing PPT or write up to marketing team
• Maintaining systematic record of relationship matrix of insurers ,keeping track of the quotations and analysing reasons of failure for cases where the business was not placed through us
• Developing and /or securing various underwriting calculators which help underwriting department or marketing employees to calculate the premium with ease.