Insurance Specialist

Role: Insurance & Risk Management

Function: Finance & Accounts

Job Location: Azamabad, Near RTC Cross Roads, Hyderabad

Industry : Pharma/Biotech

Desired Experience: 5 to 9 years

Purpose:

To manage end-to-end insurance needs covering BE's manufacturing plants, warehouses, exports, and global operations ensuring protection of physical assets and coverage for liability exposures.

Key Responsibilities

1. Asset-Related Policies

• Industrial All-Risk (IAR) plants, warehouses, stocks.
• Marine Cargo import/export shipments, cold chain.
• CAR/EAR construction & equipment installation projects.
• Boiler/Equipment Breakdown & Burglary coverage.
• Other miscellaneous policies

1. Liability Policies

• Product & Clinical Trials Liability global vaccine risk.
• CGL third-party injury/property claims.
• D&O board and senior management protection.
• Cyber & Environmental Liability coverage.
• Surety Bonds for tenders and exports.
• Other miscellaneous policies

1. Claims Management

• Handle fire, marine, and liability claims end-to-end.
• Coordinate with brokers, insurers, and internal teams.

1. Coordination

• Internal: Finance, SCM, QA/QC, Projects, R&D, Regulatory.
• External: Brokers (Marsh, Prudent), Insurers (SBI, Tata AIG, etc.).

Skills Required

• Strong knowledge of insurance products and clauses.
• Pharma & vaccine supply chain risk understanding.
• Financial skills for premium benchmarking and claims provisioning.
• Regulatory compliance (IRDAI, RBI, FEMA).
• Negotiation and documentation expertise.

About Company:

Biological E. Limited (BE), founded in 1953, is India's first private-sector biological products company and the first pharmaceutical company in South India. Originally incorporated as Biological Products Private Limited, BE develops, manufactures, and supplies vaccines and therapeutics. BE's portfolio includes 13 World Health Organisation (WHO)-approved vaccines and 11 USFDA-approved generic injectables. The company has the capability to develop and manufacture vaccines across all major technology platforms, including microbial/bacterial fermentation, recombinant vaccines, and viral vaccines. BE supplies essential and life-saving vaccines and pharmaceuticals to UN agencies such as UNICEF and PAHO, global markets, and within India to the National Immunisation Programme, State Governments, Public Sector Undertakings (PSUs), the Indian Armed Forces, and the domestic retail market.

For over five decades, BE has played a pivotal role in supporting public health programmes in India. BE is the leading global supplier of Pentavalent vaccine and the largest producer of Tetanus vaccine worldwide. In India, it is the top producer of snake anti-venom and a prominent supplier of essential injectables, such as anti-coagulants. Additionally, BE offers trusted remedies for cough, cold, gastrointestinal disorders, respiratory issues, and critical care products. In recent years, BE has undertaken strategic initiatives for organisational expansion, including developing generic injectable products for regulated markets, exploring synthetic biology and metabolic engineering for sustainable API manufacturing, and creating novel vaccines for global markets. BE exports vaccines to over 140 countries, partnering with organisations such as the Bill & Melinda Gates Foundation. The company has delivered several million doses of LPV to children worldwide and distributed over two billion doses of vaccines to public and private markets globally. BE maintains a presence across nearly all continents.

BE's workforce of over 6,000 dedicated employees, including renowned scientists, attracts talent from around the world. The company operates three state-of-the-art facilities for development, scale-up, and commercial manufacturing in Hyderabad, India. These facilities are certified by the USFDA, WHO, and other regulatory bodies. BE collaborates with leading global organisations and government research institutes to create innovative vaccines and therapeutics, ensuring access to remote corners of the world and improving lives globally.

BE has received numerous awards and recognitions. Since 2014, it has been honoured with the Pharmexcil Award by the Ministry of Commerce and Industry, Government of India, for three consecutive years. In 2017, Fortune India's Next 500 included BE in its list. In 2022, BioSpectrum, a leading pharma journal, ranked BE 6th among the top 20 biotechnology companies in India.