Position Overview:
We are seeking an experienced Insurance Manager to lead and manage the Group Corporate Insurance Program for a leading listed conglomerate in Malaysia. This individual will be responsible for overseeing the company’s insurance strategy, managing insurance policies, and ensuring the organization is adequately covered for risks across its various business units and operations. The role requires a deep understanding of the insurance landscape, risk management, and an ability to collaborate with internal stakeholders and insurance partners.
Key Responsibilities:
Group Insurance Program Management:
- Manage and oversee the company’s corporate insurance program, including coverage for property, liability, employee benefits, business interruption, cyber risk, and other relevant policies.
- Regularly review and assess insurance needs, ensuring appropriate coverage levels are in place for various business operations and assets.
- Coordinate with internal teams to gather necessary data for insurance renewals and new policies, ensuring timely and accurate submissions.
Risk Identification & Assessment:
- Work closely with senior management and business units to identify and assess emerging risks across the organization’s operations.
- Analyze existing insurance coverage to ensure it aligns with the company’s risk profile and business activities.
- Recommend modifications to existing policies or the introduction of new policies as needed to address evolving risks.
Insurance Placement & Negotiation:
- Liaise with brokers, underwriters, and insurers to negotiate the best possible terms and premiums for the company’s insurance policies.
- Oversee the renewal process for all insurance policies, ensuring that coverage is renewed in a timely manner with no gaps in protection.
- Conduct competitive analysis to ensure the company receives the best value for its insurance investments.
Claims Management:
- Act as the primary point of contact for managing and resolving claims across various insurance policies.
- Oversee the preparation of necessary documentation, working closely with internal teams and external insurance providers to ensure claims are processed efficiently and in line with policy terms.
- Provide support during claims disputes and escalate issues when necessary.
Regulatory Compliance & Reporting:
- Ensure that the company’s insurance program complies with all relevant regulatory requirements in Malaysia and other jurisdictions where the company operates.
- Maintain up-to-date knowledge of industry trends, legal and regulatory changes, and insurance market developments.
- Prepare regular reports for senior management and the Board of Directors on the status of insurance coverage, risk exposure, and claims.
Collaboration & Stakeholder Management:
- Work with senior executives, legal, finance, and operational teams to align the insurance strategy with the company’s broader risk management framework and business goals.
- Provide insurance-related advice and expertise to business units, ensuring they understand their coverage and obligations under corporate policies.
Insurance Budget & Cost Management:
- Manage the corporate insurance budget, ensuring effective cost management while maintaining sufficient coverage for company risks.
- Identify opportunities for cost savings or alternative risk financing methods without compromising coverage quality.
Required Skills & Abilities:
Insurance Expertise:
- In-depth knowledge of corporate insurance products, including property, liability, business interruption, cyber, and employee benefits insurance.
- Strong understanding of risk management principles and their application in a corporate insurance program.
Negotiation & Relationship Management:
- Proven experience in negotiating with insurers, brokers, and other external stakeholders to secure optimal coverage and pricing.
- Ability to build and maintain strong relationships with insurance providers, brokers, and other external partners.
Claims Management:
- Experience in managing complex insurance claims, including working with internal teams and external partners to resolve claims efficiently and effectively.
Analytical & Problem-Solving Skills:
- Strong analytical skills to assess risk exposure, identify gaps in coverage, and develop strategies for mitigating risks.
- Ability to resolve issues and challenges related to insurance coverage, claims, and cost management.
Communication & Stakeholder Engagement:
- Excellent verbal and written communication skills to interact with senior management, external insurers, and other stakeholders.
- Ability to explain complex insurance issues clearly and concisely to non-experts in a business setting.
Project Management:
- Strong organizational skills with the ability to manage multiple insurance-related projects simultaneously.
- Detail-oriented and capable of managing the insurance renewal process, policy documentation, and claims management without oversight.
Qualifications:
Education:
- Bachelor’s degree in Business Administration, Finance, Risk Management, or a related field. Professional certifications such as Associate in Risk Management (ARM) or Chartered Insurance Professional (CIP) would be a plus.
Experience:
- 5-8 years of experience in corporate insurance, risk management, or a related field, with a strong background in managing corporate insurance programs for large organizations.
- Experience in negotiating insurance policies, managing claims, and working with brokers and insurers.
Technical Skills:
- Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) for reporting, presentations, and analysis.
- Familiarity with insurance management software or tools is an advantage.
Language Skills:
- Proficiency in English is required. Knowledge of Bahasa Malaysia is an advantage.
