Job description
Negotiations with insurance companies for policy lowest premium and best policy brokerage.
- Compare quotations from multiple insurers.
- Finalize the best terms, coverage, and premium as per client requirement.
- Ensure proper placement slip preparation and submission.
- Follow up with insurers for policy issuance within TAT.
- Verify policy documents for coverage, IDV, premium, add-on covers, clauses, endorsements.
- Ensure error-free policy documentation before sending to client.
- Maintain strong relationships with underwriters of insurance companies.
- Negotiate for better premium, add-on covers, and wider coverage.
- Handle clarifications from insurers regarding vehicle details and risk information.
- Maintain records of: Quotations, Placement slips, Proposal forms, Policy copies.
- Ensure compliance with IRDAI guidelines.
- Track policy renewal dates.
- Collect renewal quotes from insurers.
- Ensure timely renewal placement.
- Work closely with: Sales team, Client servicing team, Claims team.
- Ensure smooth flow of information between insurer and client.
- Maintain placement MIS reports.
- Ensure documentation for audits and regulatory requiremen Requirements
- Knowledge of Motor Insurance products.
- Strong negotiation skills.
- Good communication with insurers.
- Attention to policy wording and coverage details.
- Knowledge of IDV, add-on covers, endorsements, and motor underwriting.
- MS Excel & documentation management.
Qualifications
- Graduate (preferably Insurance / Commerce / Management).
- Certification like III / IRDAI training is an advantage.
- Minimum 2–5 years of experience in Group Insurance Underwriting (Broker or Insurer side)