Nitin Ranjane
Senior Manager
Mumbai
Summary
With extensive experience in General Insurance Analytics spanning 14 years, I have developed a strong analytical knowledge and the ability to identify trends and patterns. I have successfully delivered analytical insights for various purposes including loss cost reduction, TAT improvement, expense cost optimization, and cost benefit analysis. My expertise has been honed through collaborations with leading stakeholders in the GI industry such as ICICI Lombard, Bharti AXA, and Reliance General. Currently employed at Magma HDI General Insurance, I possess proficiency in utilizing data analytical tools including SAS, R-Studio, Ms-Access, Advanced Excel, and Macros.
Overview
21
21
years of professional experience
2
2
Certifications
4
4
Languages
Work History
Senior Manager
Magma HDI General Insurance
09.2022 - Current
- Provided detailed reports on key performance indicators like Disposal, TAT, Stock and Productivity to the Motor claims team.
- Delivered IIB claims reports and IRDA BAP reports in compliance with timelines.
- Performed trend analysis on ACS to pinpoint specific cohorts for targeted enhancements.
- Analyzed anomalies in service pricing to prevent high charges.
- Facilitated decision-making by implementing automated reporting systems after performing UAT.
- Identified claim numbers linked to fraud alerts issued by IIB portal.
- Conducted presentations for PHPC and periodic meetings, including quarterly and annual sessions across pan India.
Senior Manager - CS Motor Underwriting & Claims Group
ICICI Lombard GIC Ltd. Erstwhile Bharti AXA GIC Ltd.
03.2020 - 09.2022
- Developed motor LR projection models accounting for current market scenario.
- Collaborated with sales channels and key stakeholders to track changes in business dynamics across different cohorts and mixes.
- Analyzed cohort and business mix data to detect declining trends in yield or exposure.
- Developed underwriting strategy focusing on swift adjustments for struggling cohorts.
- Generated reports on motor-incurred ACS segmented by product mix and location mix.
- Conducted UAT for ACS automation within integrated claims system.
- Isolated impacts of non-add-on coverages, such as Calculate Depreciation for policies with Zero Dep coverage.
- Conducted bi-annual regulatory reporting submissions, including GI Council data.
- Reported to IIB with motor premium segment within stipulated time limit.
- Managing discounting for channels with respect to OEM as well as RTO Cluster wise
- Developed rate models for underwriting and modified calculators for comprehensive motor products.
Manager - Motor Claims (Central Team)
Reliance General Insurance Ltd.
12.2019 - 03.2020
- Cost minimization in term of ACS control targeting ACS to IDV correlation
- Key business analytical inputs on claims trends
- Analyze data & automate certain requirements with respect to best outcome from system itself to minimize data cleaning
- Automate daily MIS reports to managements to optimum usage of resources
- Streamline process of preparing the Daily / Monthly reports by automating the regular activity which leads to human error, time to formulate the report & sending across PAN India team, Introduction of new process which cut off the time & increase the accuracy of the reports
Analytics Manager - Underwriting and Claims (CS-Motor Control & Strategy)
ICICI Lombard General Insurance Ltd.
11.2013 - 11.2019
- Providing key business analytical inputs on motor underwriting & claims trends
- Claim behavior analysis- Multiple claims from customers
- Repeat Driving License analysis across dealers
- Repeat accident damages
- Conducted comparative analysis on similar make-model combinations to determine part utilization trends.
- Conducted analysis on part rate and labor rate increments related to ACS and loss ratio trends.
- Facilitated development and oversight of KPI performance scorecards for service delivery claims team comprising ~600 surveyors, 60 Area Managers, 20 Regional Managers (AVPs), and 3 National Managers (VPs).
- Conducted IRDA reporting and loss exposure analysis for claims related to natural calamities across all LOB (Property, Marine, Motor, Health) products.
- Tracked and analyzed service delivery metrics, including disposal ratio and SIH, to ensure optimal performance.
- Conducted root cause analysis to enhance performance by drilling down from HUB level.
- Conducted data mining for Sales, product, underwriting, and FNOL teams.
- Preparing monthly presentation for MD review and board meeting with motor claims trends in visual representations with graphs & tabular data
- Developed fraud triaging program aiding in swift detection of suspicious claims.
- Analyzed duplicate payments to LAE and provided sample files to OFR/CFR for identifying root causes of misrepresentation.
- Conducted ACS and loss cost analysis to identify mix changes and business impact.
- Scoped EDW reports tailored for SAS Visual Analytics integration.
- Earned recognition as a top performer at ICICI Lombard in Motor Analytics.
- Honored with an achievement certificate highlighting outstanding work from July through December 2018.
Sr. Executive - MIS & Analytics - Commercial Underwriting / Claims
Reliance General Insurance Ltd.
06.2012 - 11.2013
- Ensuring to deliver Monthly Progress Reports (MPR) which includes claim disposal ratio, TAT for claim settlement, aging of claims for every month before speculated time limit to PAN India Level
- Monitor the disposal ratio of zonal level & making root cause analysis by drill down from zone to region level or / and LOB level or / and channel level
- Ensure to monthly upload premium as well as claims files on IIB (Insurance Information Bureau) after verification from accounts
- Prepare monthly presentation for CEO review with premium & claims figures and their trends with assist of graphs & tabular data
- Prepare quarterly report for board meeting with major new account acquire, major renewal premium received, zonal performances, major claims settled, Claim Ratio analysis, Combine ratio analysis
- Developing the calculators for Fire as well as for issuing quotes to clients
- Atomization of reports from system (Qlick View) for zonal prospects for every claim processor to self-examine to improve the performance
- UAT of Genesis Configurator the claims system for processing claims with different scenario to evaluate dominance & also finds its ambiguity of the system and deal with developer to improve the same
- Also UAT of reports downloaded from claims systems viz
- CMS & Genesis Configurator
- Prepare IRDA reports which need to report to IRDA by every month like Major Event data which includes claim intimated during the month, settled during the month & outstanding at the end of month
- Streamline process of IIB files upload of premium as well as claims for the all commercial line of business and same was appreciated by legal head
Executive - New Business & Channel Support
IDBI Federal Life Insurance Co.
02.2008 - 06.2012
Admin Assistant & Call coordinator
CDP (I) Pvt. Ltd.
05.2007 - 02.2008
Accountant & Computer Operator
M/S Computer Consultancy Services
03.2005 - 05.2007
Back Office Executive
IDBI Bank, Chembur Branch
04.2004 - 12.2004
Education
B.Com. - Bachelor of Commerce
N.S.S College of Commerce & Arts
MumbaiPGDBM - undefined
Welingkar institute
Mahim, MumbaiCertificate in Computer Operating & Management - undefined
Kirti Institute
DadarCertification in Web Designing - undefined
St. Angelo's
DadarSkills
Strategic planning
Certification
Certificate in Computer Operating & Management, Kirti Institute Dadar
Dataanalyticstools
- SAS Data Integration studio
- R-Studio
- MS Access
- MS Excel
- QlickView
- Elixir & CMS
- Fact
Personal Information
- Age: 38
- Gender: Male
- Nationality: Indian
- Marital Status: Married
Timeline
Senior Manager
Magma HDI General Insurance
09.2022 - Current
Senior Manager - CS Motor Underwriting & Claims Group
ICICI Lombard GIC Ltd. Erstwhile Bharti AXA GIC Ltd.
03.2020 - 09.2022
Manager - Motor Claims (Central Team)
Reliance General Insurance Ltd.
12.2019 - 03.2020
Analytics Manager - Underwriting and Claims (CS-Motor Control & Strategy)
ICICI Lombard General Insurance Ltd.
11.2013 - 11.2019
Sr. Executive - MIS & Analytics - Commercial Underwriting / Claims
Reliance General Insurance Ltd.
06.2012 - 11.2013
Executive - New Business & Channel Support
IDBI Federal Life Insurance Co.
02.2008 - 06.2012
Admin Assistant & Call coordinator
CDP (I) Pvt. Ltd.
05.2007 - 02.2008
Accountant & Computer Operator
M/S Computer Consultancy Services
03.2005 - 05.2007
Back Office Executive
IDBI Bank, Chembur Branch
04.2004 - 12.2004
B.Com. - Bachelor of Commerce
N.S.S College of Commerce & Arts
PGDBM - undefined
Welingkar institute
Certificate in Computer Operating & Management - undefined
Kirti Institute
Certification in Web Designing - undefined
St. Angelo's
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