JOY EDWARD PATRAO, General Manager

JOY EDWARD PATRAO

General Manager

Kuwait Insurance Brokers Bureau, KIBB

Location
Kuwait - Al Kuwait
Education
Diploma, Maritime Logistics
Experience
26 years, 6 Months

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Work Experience

Total years of experience :26 years, 6 Months

General Manager at Kuwait Insurance Brokers Bureau, KIBB
  • Kuwait - Al Kuwait
  • My current job since October 2023

Manage overall functions of the company including Business Planning & development.
Developing & implementing the company's strategic plans, goals & objectives in alignment with the overall business strategy.
Assessing & managing risks associated with insurance broking activities.
Ensuring compliance with legal & regulatory requirements, maintaining appropriate insurance coverage for the firm and implementing risk mitigation strategies.
Growing strong network of contacts and staying connected with the industry peers to stay informed about market developments & emerging trends.

Manager - Marine & Aviation Insurance at Al Khazna Insurance Company (AKIC)
  • United Arab Emirates - Dubai
  • October 2018 to April 2023

Al Khazna Insurance Company (AKIC), Dubai : October 2018 - April 2023
HO: Abu Dhabi; Branches: Dubai & Al Ain
Manager - Marine & Aviation Department

Key responsibilities:
Leading the Marine team of AKIC
Manage overall functions of the Marine & Aviation Department across all offices.
Strategize with the Management regarding Future plans for Growth of the company.
Business Development through regular meetings with clients, brokers, reinsurers, surveyors etc.
Accept proposals and ensure accurate reinsurance cover prior to underwriting business.
Negotiate with Brokers, Clients for finalization of business.
Authorize claim payments and ensure realization of recoveries from Third Parties where feasible.
Provide timely, accurate and complete reports to the Management at regular intervals.
Train and Develop subordinates to improve productivity and profitability.

Manager (Marine & Aviation Insurance - UW and Claims) at National Takaful Insurance Co
  • Kuwait - Al Kuwait
  • August 2004 to September 2018

National Takaful Insurance Company (NTIC), Kuwait : August 2004 - September 2018
Manager - Marine & Aviation Insurance (UW & Claims)

Key responsibilities:
Manage the Underwriting function of the department, including:
Risk Factor analysis, assessment of and obtaining reinsurance support required, negotiating terms and conditions with Re insurers, and coordinating with the Reinsurance Department.
Generating quotes, negotiating terms with the client and issuance of Policies.
Evaluations of loss ratio records and recommend suitable corrective measures.
Ensuring that timely renewals, issuance facultative reinsurance slips and premium closings.
Preparation of production reports, reinsurance reports and closings.

Manage the Claims function of the department, including:
Assessment of Company’s liability for the event under the insurance policy
Appointment of Surveyors, Lawyers and Average adjusters etc.
Determine Third-party involvement for recovery actions; regular monitoring of recovery actions in liaison with Legal Department/Lawyers
Supervise issuance of claim settlement, reinsurance reports and closings.
Review of Reinsurance Treaty wordings and recommend improvisation,
Compile reports/statistical records as a pre-requisite to Reinsurance treaty renewals.
Training and motivate subordinate staff.

Underwriting Assistant (Marine & Aviation) at Al Ahleia Insurance Company (AIC)
  • Kuwait - Al Kuwait
  • June 1997 to August 2004

Al-Ahleia Insurance Company (AIC), Kuwait : June 1997 - August 2004
Underwriting Assistant - Marine & Aviation Department


Key responsibilities :
Issuance of policies, endorsements and all documentation pertaining to Marine department (Direct, Inward Local, Inward Foreign & Co-insurance etc.)
Arranging/Issuing facultative closing and reinsurance slips
Premium distribution and Reinsurance Allocation
Preparing monthly production statement, quarterly R/I and Premium distribution statements for treaty
Preparing faxes/correspondence for re-insurers and clients during renewals
Settlement of Marine claims
Recording/allocating estimations where available

Preparation of quarterly premium / claims statements
Issuing statements for Production/Treaty Distribution/Claims paid/Claims outstanding for the underwriting year

Education

Diploma, Maritime Logistics
  • at American Digital University (ADU)
  • August 2023

Diploma in Maritime Logistics

Diploma, Insurance CII, UK
  • at CHARTERED INSURANCE INSTITIUTE
  • October 2012

➢ Completed Certificate in Insurance CII, UK

Bachelor's degree, BACHELOR OF SCIENCE (B. Sc)
  • at MANGALORE UNIVERSITY, KARNATAKA , INDIA
  • October 1997

Specialties & Skills

Insurance Claims
Insurance
Boat Insurance
Inland Marine
UNDERWRITING & CLAIMS
AVIATION
CLIENTS
CLOSINGS
DOCUMENTATION
PROCESSING CLAIMS
REINSURANCE
UNDERWRITING

Languages

Hindi
Intermediate
Arabic
Intermediate
English
Expert

Memberships

Chartered Insurance Institute, UK
  • Qualified Member of CII
  • January 2012

Training and Certifications

DIPLOMA IN MARITIME LOGISTICS (Certificate)
Date Attended:
August 2023
RISK MANAGEMENT - MANAGING PROPERTY AND LIABILITY RISK (Certificate)
Date Attended:
June 2023
MARINE INSURANCE COURSE (Certificate)
Date Attended:
May 2015

Hobbies

  • TRAVELLING & SIGHTSEEING
    I like to travel a lot to different countries & meet new people to understand their culture and way of living & to explore on new adventures. Over 24 countries that I have visited are Mauritius, Germany, Switzerland, Austria, Slovakia, Thailand, Malaysia, Turkey, Sri Lanka, Sweden, UAE, Saudi Arabia, Bahrain, Spain, Italy, France, Monaco, Montenegro, Jordan, UK , USA, Bahamas, Georgia & Kuwait.