General Manager - Claims
Future Generali India Insurance Company Limited
مجموع سنوات الخبرة :30 years, 11 أشهر
Worked with Future Generali India Insurance Company Limited from Dec. 2011 to August 2017. Left Future Generali on retirement.
Dy. General Manager - Claims from 1st December 2011 to 31st January 2015
As Zonal Claims In charge of Two States - Tamilnadu and Kerala operating from Chennai.
From 1st February 2015, Andhra Pradesh (Erst while undivided Telugu state) was added to my territory and operated from Hyderabad.
I was promoted as General Manager Claims WEF 1st January 2016 and my area of operation was Telangana, AndhraPradesh and Kerala. Managing twelve offices with a team of 36 employees.
• Claims Management - Property, Marine, Liability, Motor and Miscellaneous.
Major losses handled/disposed off.
Rupees 120.00 Millions claim of STP plant in Allahabad under EAR policy,
Rupees 200.00 Million loss under Jewellers block policy, wherein on account payment of Rupees 50 Millions was made within 7 days of date of loss, which was very much appreciated by the Insured., IMD and resulted in good mileage to Company in the market.
Many claims of Rs. 5 Millions under Marine Transit, Fidelity, Motor Third Party, Fire Policies.
• Close follow up with the Surveyors and other Service providers for timely completion of assessments and submission of reports.
• Constant monitoring, review and ensuring turnaround time for settlement of claims of Tamilnadu, Kerala, Telangana and AndhraPradesh
• Negotiation and Settlement of claims with Brokers and Clients.
• Close follow up with Advocates for negotiations and compromise of Third Party claims. Defending all contest cases.
• Loss minimization by way of maximizing salvage realization and recovery in Marine claims.
To effect recovery of Claims under the various classes of General Insurance and Servicing of the Clients.
• Ensure timely notifications of claims to Insurers and coordinate with Loss assessors for immediate inspection of the losses.
• Close follow-up with the Loss assessors, Clients and Insurers for claims settlements.
• Accurately compile and quantify all Insured losses with a view to securing recoveries on time bound basis.
• Interpret insurance policy terms, conditions and warranties to ascertain implications on recovery.
• To analyze the claims in all aspects and advise the clients on loss minimization, if any.
To effect recovery of whole range of Aviation and Non-aviation claims under the various classes of insurance covers procured by the Emirates Group.
• Ensure timely notification of claims to Brokers, Underwriters etc.
• Interpret insurance policy terms, conditions and warranties to ascertain implications on recovery.
• Initiate, attend and conduct surveys with underwriters, surveyors/loss adjusters - to make an initial and final assessment of loss.
• Accurately compile and quantify all insured losses with a view to securing recoveries.
• Claims Management - Property, Marine, Liability and Miscellaneous (other than Motor & Health)
• Constant monitoring, review and ensuring turn around times for settlement of claims - Pan India.
• Successful negotiation and settlement of claims with Brokers and Clients.
• Feed back to underwriting team on product development based on the claims analysis.
• Handling claim related customer grievances and issues raised by Insurance regulatory and Development Authority (IRDA)
• Active management reporting, monthly presentation to M.D., Heads of Business and Underwriting team on claims pattern, trends, loss minimization measures and related controls.
• Handling and resolving Internal and External Audit queries.
• Identification of all service providers like Surveyors, Advocates, Investigators, Marine recovery agents etc for all portfolios of General Insurance.
• Monitoring, controlling & settlement of claims in all departments
• Loss control measures.
• Analysis & Rendering Advise for better portfolio Management.
Started career in Insurance Industry as Asst. Admn. Officer(Engr) in Ahmedabad from 1986 to 1989. Promoted as Admn. Officer and continued to work in Ahmedabad till Jan.1992
Transferred to Vizag Divisional office in Feb.1992 and worked as Assistant Divisional Manager till Jan 1995.
Moved to Hyderabad Regional office as Admn officer in Feb. 1995 and later on Promoted as Asst. Manager.
Underwriting and Claims Management - Motor, Property and Health Insurance.
Monitored the assessment made by the surveyors & Conducted Inspections in various claims.
Trained Marketing Force.
Advised ways & means of reducing claims ratio with regard to Fire, Engineering, Marine, Miscellaneous and Motor claims.
Conducted training programs for Technical departments like Motor, Marine, Fire and Engineering Insurance..
Monitored claims in various Divisional Offices.
Was a Member of Special Technical Audit.
Designed ways for qualitative underwriting.
Automobile Engineering was elective subjective in the final year of Graduation.