Senior Insurance Professional
4 days ago
About ST Logistics:
We are a leading logistics company committed to providing exceptional services to our clients. Our team of experts works tirelessly to ensure that our clients' goods are transported safely and efficiently.
Job Description:
The Senior Executive – Insurance and Risk Management will be responsible for managing our insurance portfolio, identifying potential risks, and developing effective risk management strategies. This role requires strong collaboration skills, as you will work closely with internal stakeholders and external partners to ensure optimal insurance coverage and minimize financial risks.
Key Responsibilities:
- Insurance Program Management:
- Manage the organization's insurance portfolio, including procurement and management of insurance policies.
- Stay updated with regulatory changes and adjust insurance coverage or risk practices accordingly.
- Ensure insurance coverage is adequate and relevant to organizational needs.
- Conduct periodic reviews of insurance policies to ensure they remain aligned with organizational risk profiles.
- Liaise with brokers, underwriters, and legal teams to negotiate insurance terms and premiums.
- Collaborate with brokers to perform detailed risk evaluations and customize insurance plans.
- Monitor insurance budgets and track premium costs, claim payouts, and potential future liabilities.
- Support forecasting and financial analysis related to insurance and risk management.
- Assist in developing cost-saving strategies in insurance premium negotiations.
Claims Management:
- Manage the end-to-end process of insurance claims, including the submission of claims and liaising with insurers to ensure prompt settlement.
- Review and analyze claims to identify trends and recommend actions to minimize future claims.
- Ensure all claims are properly documented and follow-ups with insurers are conducted in a timely manner.
- Prepare risk management reports, including risk exposure, insurance coverage, and claims performance for senior management.
- Conduct internal audits of risk management processes and insurance policies to ensure full statutory compliance.
Risk Assessment and Management:
- Collaborate with business units to identify potential risks, conduct comprehensive risk assessments, and document risks across the organization.
- Support the development of risk mitigation strategies and monitor their effectiveness.
- Collaborate with internal and external stakeholders to implement appropriate insurance solutions to cover identified risks.
- Perform risk reviews of contracts, new business scopes, and major projects.
- Support the development and revision of risk management policies and procedures to ensure alignment with industry regulations and regulatory requirements.
- Prepare regular reports on risk exposure, insurance coverage, and claims analysis for senior management.
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