Insurance Manager
2015: M/s. Engineer’s Office (EO) of HH Sheikh Mohammed Bin Rashid
Total years of experience :16 years, 9 Months
Handling complete Insurance requirements from Tendering to review of contracts, processing of Decision Requests (DR) Service Level Agreements (SLA), Letter of Acceptance (LOA) & Annual insurance returns for Project under General Insurance as well as Life/Medical/PA including all such Organisational requirements/functions pertaining to Insurance entity.
•Managing routine functions in co-ordination with all relevant departments leading to preparation of Insurance Process, guidelines, Stores/Warehouse procedures, Site evaluations and Survey recommendations to accomplish Management Objectives.
•Also, implement HSE measures at Conservation Project Sites with International Standard norms mainly to avoid any deliberate losses/mishaps, which may give rise to a Potential Claim.
Managing all major functions and main phases of Finance & Human Resource Operations in the entire group through interactive team work, focusing on vital business elements, initiatives, facility management, cash flow management, inventory management, time management, customer oriented services and profit management.
•Calculate production cost, specific indicators, Overall verification of posting & recording of PV, RV, JV, cash imprest, PO, DO, Reconcile/manage payroll & accounts, accounting plan, annual budget & monthly forecast of P/L, TB, BRS and Balance Sheet, pricing, investment, OH expenditure, audit & statutory reports, credit control, financial reporting, compensation & benefits projection and financial facilities such as LC, LG, BG, Bid bonds, drafts, loans, etc.
•Responsible for identifying, assigning and signing local & international documentation towards business/trade perspective, clients’ mentality and innovative factors in accordance with the Organisational guidelines. Positive & effective interaction with colleagues, clients & business partners counteract in extracting facts from others.
•Develop & implement employee performance evaluations and improvement plans. Meet or exceed established performance objectives. Provide a positive working environment, resolve employee issues appropriately and settle customer complaints by determining optimal solutions.
Manage the team of experts in accomplishing the time bound assigned tasks with great enthusiasm & efficiency. As a reliable & responsible workaholic person, dealt diplomatically & amicably on conflicts.
•Perform diversified Office functions with prompt review & assessment of documents from various entity like Insurance Providers, TPA's, Brokers and Medical/Health Care Providers (Hospital, Medical Centre & Clinic) in accordance with the Bylaw of 2005 pertaining to Health Insurance Regulations.
Handle all Insurance requirements from scratch, i.e. Tendering to review of contracts, exceptions/deviations to articles of agreement and processing of annual insurance returns for the Finance Directorate under Treasury & Risk Management Division in coordination with Budget & Cost Control Department along with approved Guidelines/Delegation of Authority (DOA) and Chart of Accounts.
•Directly involved in core activities leading to preparation of Insurance Budget and managed proper allocation plus transfer of funds in accordance with the Company’s approved Budget (Operating & Capital) through Authorization for Expenditure (AFE’s), statistical declaration of facilities/interests for underwriting & Compiling data of user divisions within the Organisation including Ruwais & Umm Al Nar Refineries. Possess general working knowledge of Project Management, preferably on Turnkey Construction Contracts in the gulf vicinity.
•Following Blanket Insurance coverage’s are dealt/undertaken by me: Group Fire & Allied/Extended Perils, Machinery Breakdown, Business Interruption/Consequential Loss/LOP; Group TPL; CAR; EAR; P&I; Combined Group Life, Accident, Illness & Medex; Group Marine Open Transit; Group Motor Fleet & Heavy Equipment; Theft & Dishonesty; Major Projects & Minor Works Contract; etc. In the very first of my reign/handling office, identified the hierarchy of the Company & earned a phenomenal profit margin by saving Dirhams 2.35 Million as Insurance Premium.
•Personally assist/draft Capex, Opex, Accruals & Imprest reports with top priority to Manpower strategy/plan; closely evaluating Real/Personal (Operational & Non-operational) Assets of the company; scrutinizing & resolving all types of Catastrophic risks/losses/claims towards amicable settlement including Estate/Residential claims of employees with their applicable grade ceiling. In addition, well qualified to various fundamental functions of the T&RMD in adherence to Q.H.S.E. standards.
•Technically equipped to conduct Risk engineering & management surveys in co-ordination with the visiting (U.K) Consultants during their periodical inspections and prepare correlative Risk management analysis, Site survey almanac, Manuals & Bulletins (Refinery plants, Berths & jetties) with great enthusiasm. As a goal to success, adopted Key commitment/performance
& Officiated as Branch Manager during his absence
Job Profile :
•Promptly governed front office operations & exposed to all branches of General Insurances namely Fire, Engineering, Aviation & Marine (both Underwriting & Claims) including Re-insurance activities. Whilst acting, successfully supported Gen. Mgr., Area Mgr. & a 100% dedicated workforce of 17 staff.
•Implemented procedures to secure Blanket Insurance cover for our prospective Clients, their projects, properties, etc. in accordance with the existing U.A.E. Federal Labour (No.8 of 1980 amendments thereafter) Laws. Kept abreast of the changing Insurance market trends/policies, hardening rates & procedures, scope & coverage factors, terms, conditions and limitations/exceptions to Top management accordingly.
•Conversant in handling U/W issues/Re-Ins. arrangements for all the branches including specialized covers for Major Energy, National Banks & other Financial Institutions as per Company guidelines. Develop strategy for risk acceptances & eliminate bad risks from our books and liaise with re-insurers/brokers like Munich Re, Swiss Re, Nasco, Generali, Aig, Skandia, Scor, Arig and Cogent.
•Supported the legal section excellently on Contractual obligations and personally skilled to handle all day-to-day business communications with special emphasis on self-correspondence. Effective measures were taken to win eligible Projects (tenders) from different clients/corporation by providing them the best competitive bids/rates in concurrence with the Global Insurance scenario.
•Assessment and pursuit of claims in accordance with company's policy, coverage, terms & conditions and overlooking the entire process towards indemnifying the actual risk/liability involved. Renewal of policies, maintaining proper book of accounts vis-à-vis premiums received & claims paid so as to contemplate & reconcile with General ledger and Accounts payables/receivables respectively.
•Gradually promoted to prepare mandatory performance/interim report, profit sharing & statistical analysis and financial statements in compliance with the Ministry/Chamber of commerce, economy & planning guidelines.
Drafting & generating various Insurance policies viz., fire & allied perils, burglary, workmen’s compensation/employer’s liability, public/third party liability, life, medical & personal accident, marine cargo, fidelity guarantee, cash-in-transit, etc. and their related documentation.
•Preparing quarterly statistical data, annual profit sharing commission reports (upon request), pool business analysis and monthly summary declaration of Company’s branch offices (Al Ain & Dubai).
•Later engaged in diversified functions like submitting quotations (when called for) to Khalifa Committee (DSSCB), Abu Dhabi Municipality, Water & Electricity Dept (ADWEA)., Oil & Gas sectors such as ADNOC & its subsidiaries and other Multinational ones as per their tender/bid requirements.
•Systematically trained to handle all Underwriting & Claim activities in conjunction with tailor made wordings of Lloyd’s of London for Corporate clients.
Supervise routine administration formalities, self-correspondence, filing, organising board meetings & preparing minutes, tracing hindrances, ensuring proper storage and devotedly managed specific shipments including transport of cargo/consignments to the final destination.
•Handle export/import documentation and maintained proper book keeping mechanism by closely interacting with the governmental agencies for speedy clearance of our Export/Import shipments as well as timely acquisition of Drawback from Port & Custom authorities.
courses: Final thro’ Correspondence) “Institute of Bus.& Mgt. Studies
courses: I.C.W.A. (Institute of Costs & Works Audit) - Prelims & Inter passed in First class “Certified Public Chartered Institute of Madras