Required Principal Officer - Vellore

Key Responsibilities:

1. Leadership and Management

• Lead and manage the entire insurance services team, including underwriters, claims processors, customer service representatives, and risk managers.
• Develop, implement, and monitor operational policies and procedures in line with organizational goals and industry standards.
• Oversee day-to-day operations of the insurance division, ensuring high standards of service delivery.
• Provide ongoing training and development to the team, ensuring they stay up-to-date with industry trends, regulatory changes, and best practices.

2. Compliance and Regulatory Oversight

• Ensure the organization complies with all regulatory requirements set forth by insurance regulatory authorities (such as IRDAI in India, or other equivalent bodies worldwide).
• Monitor adherence to internal policies, procedures, and relevant legislation concerning insurance products and services.
• Prepare and submit mandatory regulatory filings, reports, and documentation as per the legal requirements.
• Stay updated on changes in insurance regulations and manage the adaptation of internal processes accordingly.

3. Risk Management and Policy Formulation

• Oversee the evaluation and management of risks related to insurance offerings, ensuring that both the company and its customers are adequately protected.
• Work closely with the risk management team to assess and mitigate underwriting risks, including reviewing policy terms and claims history.
• Formulate and review insurance products and policies, ensuring they are competitive, compliant, and align with market needs.
• Develop strategies to mitigate risks and reduce the likelihood of claims or underwriting losses.

4. Customer Relationship and Claims Management

• Manage relationships with key clients, brokers, agents, and other stakeholders in the insurance industry.
• Ensure that claims are processed efficiently, fairly, and within regulatory time frames.
• Address complex customer complaints, ensuring resolutions that satisfy both legal requirements and customer expectations.
• Act as the primary point of contact for high-value clients and strategically manage key accounts.

5. Financial and Budgetary Oversight

• Oversee the financial operations of the insurance division, including budgeting, forecasting, and financial performance reviews.
• Ensure profitability by optimizing operational efficiency, monitoring expenses, and identifying cost-saving opportunities.
• Review claims costs, premiums, and underwriting profitability to ensure the division meets its financial targets.
• Develop pricing models for insurance products that balance profitability with competitiveness in the market.

6. Reporting and Strategic Planning

• Prepare and present periodic reports on operational performance, compliance, claims, and financial