Executive - Insurance

Job Title: Executive – Insurance

Location: Andheri, Mumbai

Industry: Pharmaceutical

Experience: 8–10 Years

Education: Graduate in Commerce, Insurance & Risk Management or equivalent

Preferred Skills: Insurance Administration & Claims Processing, SAP, Advanced Excel

Job Summary

We are looking for an experienced Executive – Insurance to manage and administer the organizations employee benefits insurance portfolio. The role involves end-to-end policy administration, renewals, premium processing, claims management, broker coordination, MIS reporting, and ensuring compliance with policy terms and conditions. The ideal candidate should possess strong analytical skills, attention to detail, and the ability to coordinate effectively with internal stakeholders and insurance partners.

Key Responsibilities

• Manage the complete administration of employee benefit insurance policies, including Group Mediclaim, Group Personal Accident, and other employee insurance programs.
• Handle annual policy renewals, employee data validation, monthly additions/deletions, policy endorsements, and related SAP transactions (FB60 and receipt entries).
• Coordinate with HR, Finance, insurance brokers, and insurance companies for policy administration and seamless execution.
• Process insurance proposals, obtain quotations, and evaluate policy terms, conditions, coverage, exclusions, deductibles, and premium competitiveness.
• Ensure timely processing of premium payments and maintain accurate records of insurance payments and deposits.
• Verify renewed policies to ensure alignment with approved terms, negotiated conditions, and organizational requirements.
• Manage end-to-end insurance claims, including documentation, follow-ups, settlement coordination, and employee support.
• Prepare and maintain MIS reports related to policies, claims, renewals, premium payments, and endorsements.
• Monitor compliance with insurance policy terms and internal processes.
• Support management with insurance-related analysis, reporting, and any additional responsibilities assigned from time to time.

Desired Skills & Competencies

• Strong knowledge of employee benefits insurance and group insurance policies.
• Experience in insurance administration, renewals, and claims processing.
• Good understanding of insurance policy terms, coverage, and compliance.
• Hands-on experience with SAP and Advanced Microsoft Excel.
• Excellent analytical, documentation, and record management skills.
• Strong communication and coordination abilities with brokers, insurers, and internal stakeholders.
• Ability to manage multiple priorities while maintaining high accuracy and confidentiality.

What We Offer

• Free on-site gym facility to support employee health and wellness.
• Subsidised meals at the company cafeteria.
• Collaborative and professional work environment.
• Learning and career growth opportunities.