Job Title: Manager / Senior Manager – Placement (Employee Benefits – GHI, GPA & GTL)
Company: Unilight Insurance Brokers Pvt. Ltd.
Website: Unilight Insurance Brokers Pvt. Ltd.
Job Summary
We are seeking an experienced and result-oriented Manager / Senior Manager – Placement (Employee Benefits) to manage the placement and servicing of Group Health Insurance (GHI), Group Personal Accident (GPA), and Group Term Life (GTL) portfolios. The role will be responsible for coordinating with insurers, negotiating terms, driving renewal strategies, ensuring timely policy issuance, and delivering optimal insurance solutions to corporate clients. The ideal candidate should possess strong market knowledge, insurer relationships, analytical capabilities, and expertise in employee benefits placement within the insurance broking industry.
This JD has been prepared based on the format and structure of the reference document provided.
Key Responsibilities
Placement & Policy Management
- Manage end-to-end placement of Employee Benefits policies including GHI, GPA, and GTL.
- Obtain quotations from insurers, conduct comparative analysis, and prepare placement recommendations.
- Negotiate premium rates, coverage terms, underwriting conditions, and service commitments with insurers.
- Coordinate policy issuance, endorsements, renewals, and policy documentation within agreed timelines.
- Ensure accuracy of policy schedules, benefit structures, member data, and contractual terms.
Renewal & Business Retention
- Lead renewal discussions with insurers and support client servicing teams during renewal presentations.
- Analyze claims experience, utilization trends, and loss ratios to formulate renewal strategies.
- Identify opportunities for coverage enhancement and cost optimization for clients.
- Ensure smooth transition and implementation of renewed policies.
Insurer Relationship Management
- Build and maintain strong relationships with insurance companies and underwriting teams.
- Stay updated on market developments, insurer offerings, pricing trends, and underwriting appetite.
- Coordinate with insurers for special approvals, policy exceptions, and customized benefit structures.
- Drive service-level improvements through effective insurer engagement.
Data Analysis & Reporting
- Prepare placement reports, renewal analysis, benchmarking reports, and market comparisons.
- Maintain insurer performance dashboards and placement MIS.
- Analyze portfolio performance and recommend strategic placement approaches.
- Support management with periodic reports and business insights.
Compliance & Operational Excellence
- Ensure compliance with IRDAI regulations, internal policies, and insurer guidelines.
- Maintain accurate records of quotations, negotiations, placement slips, and policy documents.
- Support audits, compliance reviews, and process improvement initiatives.
- Ensure adherence to agreed service standards and turnaround times.
Team Collaboration
- Work closely with Sales, Client Servicing, Claims, and Operations teams to deliver seamless client solutions.
- Support onboarding and training of team members on placement processes and market developments.
- Contribute to the development of standardized placement practices and best-in-class service delivery.
Key Requirements
- Bachelor's degree in Commerce, Business Administration, Insurance, Finance, or a related discipline.
- 6–10 years of experience in Employee Benefits Insurance, Group Health Placement, Corporate Insurance Broking, or Underwriting.
- Strong experience in handling GHI, GPA, and GTL placements.
- Excellent understanding of employee benefits insurance products and underwriting practices.
- Proven experience in insurer negotiations and policy structuring.
- Strong analytical and presentation skills.
- Proficiency in MS Excel, PowerPoint, and insurance-related systems.
- Ability to manage multiple renewals and placements under tight timelines.
Preferred Skills
- Prior experience with an insurance broker or employee benefits consulting firm.
- Strong network within the employee benefits insurance market.
- Knowledge of wellness programs, employee engagement initiatives, and value-added insurer services.
- Exposure to large corporate and multinational client portfolios.
- Understanding of claims analytics and employee benefits benchmarking.
