DEVELOPMENT OFFICER
THE NEW INDIA ASSURANCE COMPANY LIMITED
Total years of experience :28 years, 7 Months
Job Profile and Responsibilities:
• Identifying potential Financial Consultants and ensuring their recruitment in accordance to company rules and business plans.
• Provide training, monitoring development, analyzing performances, providing feedback and support to own team of Financial Consultants.
• Setting sales targets for own team of Financial Consultants and raising the targets from time to time.
• Providing leadership, management, technical skill and marketing support to the financial consultants, thereby boosting their growth.
• Marketing and selling various products of the company through the highly productive team of financial consultants.
• Coordinating with Corporate clients, HNI clients, and retail customers, and ensuring the continuity of providing the best services in the industry, by providing the best possible insurance covers and the quickest settlement of claims.
• Setting up of parallel vertical by enrollment of banks for cross selling various products of the company and setting up of Banc assurance system.
• Interacting with Nodal agencies, like TPA, Motor Dealers etc, for providing efficient and best services to customers in the shortest possible time.
• Assuring the business developed with the team is profitable and in a balanced portfolio as per the company standards, thereby ensuring the company of a profitable business.
Achievements:
• Averaging growth of 91%.
• Received recognition for best agency development officer by my divisional manager
• Maintaining an average profit ratio of 64%.
Job Profile and Responsibilities: (a) Underwriting Department
• Underwriting various policies and products of the company, such as Mediclaim, Motor, Fire, Householders, Shopkeepers, Personal Accident, Marine, Workmen’s Compensation insurances and various other insurance products and policies of the company.
• Drafting of tailor made insurance policies for customers with specific need and requirements.
• Asking of additional information if required for underwriting of business on case basis, such as Comprehensive Medical reports for high age group, Details of surrounding property in case of Property insurance, Nature of work in case of Personal Accident and Workmen’s compensation insurance, Storage of goods of hazardous nature in case of Shopkeeper’s insurance etc.
• Checking proposal forms and the rates of insurance charged by the sales and marketing team
• Making changes in the rates by giving discounts to good risks and by charging additional premium for high risk proposals.
• Providing suggestions, such as, imposing additional excess as per individual proposal requirements.
• Coordinating with the sales and marketing team and updating them on the changes in the rates and terms and conditions of the underwriting policies of the company.
• Ensuring timely preparation and execution of policy documents in proper accordance of company rules and standards and as per the proposal submitted.
• Ensuring that the policies prepared and the terms and conditions and risk coverage mentioned in the policy are cent percent correct and perfect.
• Calculating of renewal premium, keeping in mind the claim history, underwriting norms and altering the terms and conditions of the policies and the rates of premium to be charged.
• Printing and ensuring that the renewal letters are delivered to the various sales verticals in advance time, thereby securing the renewal premium of the company.
• Preparing timely MIS reports and exchanging them with the various departments of the company including accounts and updating the sales and marketing force of their performance.
• Performing additional functions, like proper filing of all documents, like policies and endorsements and other client correspondences, thereby ensuring proper records storing procedures.
Achievement:
• Gained premium income of major corporate offices due to proper and need specific underwriting of tailor made policies.
Job Profile and Responsibilities: (b) Claims Departments
• Receiving claim forms and related documents, registration of the claims reported, and filing of the claims, Appointing surveyors and loss assessors for on-field verification of claims and calculating the claim liability of the company.
• Ensuring receipt of survey reports and other related documents from Surveyors and Loss assessors in shortest possible time, thereby reducing time frame of claim settlements.
• Updating the marketing force and the clients of the claim status - time to time - and calling for any additional information or documents from clients.
• Scrutinizing, analyzing the survey reports, checking the documents supporting the claim are all received, processing the claims and recommending the claims for settlement to the respective claims settling authorities.
• Professionally thorough in handling of Motor Insurance Claims and Health Insurance Claims.
• Preparing claim reports and the MIS reports for the claims department and also updating the marketing force of their claim ratios
Additional Responsibility:
• Additionally handling assignment of In-House Surveyor, for motor claims, and performing field job of motor surveyor, thereby assessing liability of company.
Achievement:
• Achieved approximately 93% of claim settlement ratio for two consecutive years.
Job Profile and Responsibilities:
• Handling the daily accounting work of the office and taking charge of the cashier’s desk and handling all operational transactions across the counter and accounting cash / cheque receipts of the policy premium received at the divisional office.
• Preparation and release of bank file / cheque request / fund request to the regional office and head office and uploading of the cheque details in the accounting system of the organization.
• Preparation of monthly reconciliation statements of three major accounts of the divisional office; namely; - Premium deposit account, Claims disbursement account and Miscellaneous disbursement account.
• Allocation and maintenance of ledgers accounts for various corporate clients, and various other accounts of the divisional office, like, excess accounts, refund accounts, advance premium deposit accounts, etc.
• Preparing and maintaining of co-insurance accounts, and inter-acting with other co-insurance companies, for premium and claim payments share.
• Issuing of cheques for claim payments and other miscellaneous payments and preparing and issuing of Agency commission statements and cheques on monthly basis.
• Preparing annual T.D.S. statements for payments of fees made to surveyors, investigators and of commissions to agents and depositing various Tax and T.D.S. amounts to the government and maintaining proper recording system of the same.
• Finalization of yearly accounts of the divisional office, such as, profit and loss account, trail balance, balance sheet, of total revenue of 20 crores.
• Preparing MIS, reports and statistics for various accounts and submitting to the regional office and head office.
• Inter acting with the Regional accountant and the Head Office accountant for submission and reconciliation of the Divisional Office accounts.
• Assisting and aiding the Internal and Statutory auditors, submitting all accounting records for their verification in proper manner and in quick time, satisfying their queries to the fullest and successfully obtaining a clean audit report.
Additional Responsibility:
• Handled the duties and responsibilities of the Divisional Accounts officer for a period of 1 year.
Achievement:
• Received recognition from the Assistant General Manager of my Region for finalizing the yearly accounts of the divisional office within stipulated time frame and obtaining a satisfactory audit report.
