Insurance Manager Duties
Insurance Manager is an employee of an insurance organization providing life and general insurance coverage to the public. The manager owes a responsibility towards his client in providing best possible service to satisfy its clients and thus bring business to the organization. The revenue generated is in the form of premium which is a fee inconsideration of policy coverage the company has agreed to underwrite and take the risk in then event of any happening. Generally, the business in the form of risk coverage is undertaken through accredited agents appointed by the company and agents get commission on premium and renewals.
Job Duties of Insurance Manager
- Know the rules and regulations governing the risk coverage;
- Work within the guidelines and framework stipulated by the company management.
- Prepare, manage and place insurance quotations and coverages required;
- Ensure processing of Certificates of Insurance and claims at the organizations’ back office;
- Periodically improve and update the procedures and processes to ensure superior delivery of all insurance services.
- Initiate the annual renewal process for corporate and individual insurance and keep the insured informed well ahead of due dates.
- Involve in claims reporting and management as and when required.
- Maintain rapport with area offices to ascertain any new procedure, answer issues relating to project insurance and initiate assistance as and when necessary.
- Communicate with the company’s legal department for both contract reviews and any assistance towards claims if required.
- Discover and analyze risk involved with huge number of exposures.
- Probe any inconsistency in high value insurances for correctness.
- Ensure projects are levied appropriate premium for insurance coverage as per quotation/agreement.
- Work in team spirit to achieve targets.Possess updated knowledge and apprise the clients with the existence and lapse of certain policies including introduction of new policies and their features.