Insurance Officer — Job Description
Job Summary
We are seeking a detail-oriented and organized Insurance Officer to manage insurance-related activities, including policy administration, renewals, claims coordination, documentation, and communication with insurance companies, brokers, clients, and internal departments. The successful candidate will ensure that insurance policies remain accurate, current, compliant, and aligned with organizational requirements.
Key Responsibilities
- Manage and maintain the organization’s insurance policies, records, and documentation.
- Coordinate the issuance, renewal, amendment, and cancellation of insurance policies.
- Liaise with insurance companies, brokers, agents, and other relevant parties.
- Obtain and compare insurance quotations, coverage options, premiums, and terms.
- Assist management in selecting appropriate insurance coverage based on organizational requirements.
- Monitor policy expiry dates and ensure timely renewals to avoid gaps in coverage.
- Review policy documents, endorsements, certificates, terms, conditions, and exclusions for accuracy.
- Maintain an updated register of all insurance policies, coverage limits, premiums, and renewal dates.
- Coordinate insurance claims from initial notification through settlement.
- Collect and verify documents and information required to process insurance claims.
- Follow up with insurers, surveyors, adjusters, brokers, and relevant departments regarding outstanding claims.
- Maintain accurate records of claims, settlements, correspondence, and supporting documentation.
- Assist in investigating and documenting insurance-related incidents and losses.
- Ensure that insurance certificates and other required documents are available and provided to relevant stakeholders.
- Monitor insurance premiums, payments, refunds, and outstanding amounts in coordination with the finance department.
- Review invoices and insurance-related charges for accuracy.
- Provide insurance information and guidance to employees, customers, management, and other stakeholders as appropriate.
- Support audits and provide insurance documentation to internal and external auditors.
- Ensure compliance with company policies, contractual requirements, and applicable insurance regulations.
- Identify potential gaps in insurance coverage and escalate risks or concerns to management.
- Prepare regular reports on insurance policies, renewals, claims, premiums, and outstanding matters.
- Maintain confidentiality of customer, employee, financial, and insurance information.
- Perform other insurance and administrative duties assigned by management.
Qualifications
- Bachelor’s degree in Insurance, Finance, Accounting, Business Administration, Economics, or a related field.
- 2–5 years of experience in insurance administration, claims, finance, banking, or a related field is preferred.
- Knowledge of general insurance products, policy terms, claims procedures, and regulatory requirements.
- Professional insurance qualification or certification is an advantage.
Required Skills
- Strong knowledge of insurance administration and claims processes.
- Excellent attention to detail and document-management skills.
- Strong analytical and problem-solving abilities.
- Excellent communication and negotiation skills.
- Good understanding of insurance policies, terms, conditions, exclusions, and coverage.
- Strong follow-up and coordination abilities.
- Good numerical and financial skills.
- Proficiency in Microsoft Office, particularly Excel and Word.
- Experience with insurance management systems or ERP software is an advantage.
- Strong organizational and time-management skills.
- Ability to manage multiple policies, claims, and renewal deadlines.
- High level of confidentiality, integrity, and professionalism.
Key Performance Indicators (KPIs)
- Timely renewal of insurance policies.
- Accuracy and completeness of insurance records and documentation.
- Timely processing and follow-up of insurance claims.
- Reduction in unresolved or overdue claims.
- Effective management of insurance costs and premiums.
- Compliance with policy terms, contractual requirements, and applicable regulations.
- Timely submission of required insurance documents and reports.
- Quality of communication and service provided to internal and external stakeholders.
- Identification and escalation of insurance coverage gaps and potential risks.
Working Conditions
- Primarily office-based with regular communication with insurance companies, brokers, clients, and internal departments.
- May require meetings with insurers, surveyors, adjusters, and other external stakeholders.
- Occasional travel may be required for claim investigations, meetings, inspections, or other insurance-related activities.
- May require additional working hours during major claims, renewals, audits, or time-sensitive insurance matters.
