Assistant Manager - Insurance

The Main Responsibilities of the role include:

• Implementation of portfolio-wide risk assessments for the identification of risk transfer opportunities and development of a well-rounded insurance programme/schedule, aligned with ECDs requirements though effective internal stakeholder engagement.
• Implementation and management of robust risk engineering survey process in coordination with insurers and ECD functions to identify and mitigate natural peril and safety risks e.g. fire, flooding etc.
• Placement and Management of all ECD Insurances (i.e. gathering of underwriting information from internal departments, review of tender proposals from participating companies, review of the reinsurance panel for A-rated reinsurers, negotiation on reinsurers, benefits/exclusions, stakeholder presentations and approvals, placement prior to expiry/requirement, endorsement management, query and claims management), including but not limited to:
  • Property All Risks Insurances and Deductible Buyback for Property Insurance including Business Interruption Insurance – determination of the sum insured, carrying out surveys, gathering of information/documentation for each asset/property from multiple departments including but not limited to Finance, Community Management, IT, etc.
  • Public & Product Liability Insurance – creating an underwriting pack with information/documentation from various departments, overview on all business activities/operations, carrying out surveys etc.
  • Directors and Officers Liability Insurance – completion of the D&O form, including supporting documents and review with Legal, Finance, HR, IT and any other relevant internal stakeholder, before submission.
  • Cyber Insurance – completion of the Cyber Insurance form and review with Legal, IFT, Finance, HR, and any other relevant internal stakeholder before submission.
  • Specie / Fine Art Insurance – Liaise with the Finance for information on artworks, values, and detailed specifications.
  • Money Insurance / Fidelity Guarantee Insurance – Liaise with Finance for cash figures and sums to be insured.
  • Electronic Equipment Insurance – Liaise with the IFT team for information of electronic equipment, values and detailed specifications.
  • Medical Insurance, Life Insurance, Workmen’s Compensation insurance for non- ECD employee related risk transfers.
• Provide HR with input on policy-related matters regarding ECD employee related Travel Insurance, Medical Insurance, Group Life Insurance, and Workmen’s Compensation & Employer's Liability Insurance, as and when required.
• Placement and management of the OCIP for the decommissioning/dismantling phase. This includes gathering of underwriting information, submission of individual forms, issuance of individual certificates and accurate calculation and reporting of total premiums under such insurance.
• Ensure compliance with budgets in the placement of all Insurances. Drive negotiations with the support of the Insurance Broker to benefit from competitive rates in the market.
• Communicate changes in policy coverage, benefits, exclusions etc., to internal and external stakeholders, when necessary.
• Oversee management of key relationships with the Insurance Broker/Consultant. This includes the establishment of service levels, processes and regular reporting mechanisms.
• Develop an effective and accurate framework for record keeping of insurance policies claims related documentation, internal memos and all other relevant information/documentation.
• Liaise between the Loss Adjustors/ Claims Consultant and internal stakeholders to facilitate claims management, information management and oversee claims payable and receivables.
• Ensure queries are responded to within the agreed SLA and identify improvement opportunities.
• Maintain up-to-date insurance query log, claims log, insurance policies renewal log including tracking of payment and refunds.
• Report on key insurance information concerning emerging risks, required policy changes, current challenges to the VP – PMO, on a bi-weekly basis.
• Support the Director Enterprise Risk Management in the development and implementation of the Insurance Framework/Strategy.

Minimum of 4-5 years of experience in the field of insurance is a must as well as:

• Bachelor’s degree, certification in CII will be advantageous.
• Strong analytical and verbal/written communication skills.
• Advanced skills in Microsoft Excel and MS Office suite
• Complete own work to the required quality standards and deliver work on time.
• Proactive with a strong sense for processes and procedures.
• Sense for integrity and confidentiality.
• Attention to details.
• Generate ideas, think creatively and develop innovative solutions.
• Handle multiple priorities at any one time.