Pankaj Verma
Experienced General Insurance Professional
New Delhi
Summary
Open to explore a multicultural & challenging business environment. An opportunity to lead a team & contribute to the organisational objectives & vision. Over thirty years of experience in General Insurance Industry with reputed global names having joint ventures in India viz. AIG, Axa, Royal & Sun Alliance & Mitsui Sumitomo and public sector insurer i.e., Oriental Insurance Co. Ltd. Key Skill Set Presently holding the position of SVP & Regional Head in SBI General Insurance Co. Limited. I have exposure to senior level positions in managing Underwriting, Claims and Sales & Marketing. My experience in Sales, Claims & Underwriting gives me a unique 360-degree view of Insurance business & customer’s perspective while dealing with various situations.
Overview
18
18
years of professional experience
Work History
Head
Mohan Meakin Limited
01.1995
- Underwriting & Risk Management
- Heading the underwriting and risk management function for the organization, effective 1st Jan 2021
- My role includes complete functional and strategic management of the organization’s underwriting for P&C, Health, Retail – Home & Auto and Specialty lines business
- UW and portfolio management for Key Portfolio
- Upgrading the complete IT system to ensure usage of AI & ML
- Improvement in Profitability of the key portfolio like Crop , Motor & Property lines
- Delivered 9%age points improvement in loss ratio in last two years, while maintaining over 18% growth in GWP
- National Head – SME Vertical - I was given the responsibility to establish the SME business vertical for the organization, effective 1st July 2018
- The objective of this channel is to bring focus on SME segment which has shown growth & potential in Indian Insurance market
- The vertical caters to our partner banks & also deals with direct business opportunities within the SME segment
- I developed the complete organizational structure for the vertical
- Important KRAs
- Complete business strategy including 5-year plan for P&L targets
- Setting up the team and assigning potential based targets for each zone
- Completed the recruitment process ab initio
- Currently the vertical is well established with the team put in place and necessary processes being aligned
- The business is showing growth of around 30% YOY basis and this is likely to strengthen further., – Claim Operations - Prior to my role as Regional Head, I was managing claim operations at national level with regional claim teams at respective locations reporting into me
- KRA’s & key contribution in claims profile:
- Consistent performer in the organisation with contribution in the following area
- Claims handling strategy & performance management of claims department
- Loss Minimisation activities along with Underwriting department
- Inputs for Product development
- Managing the Specialty line & Motor Accident Legal liability claims
- Lead the team in successful effort of recovery of over INR 180 million in credit insurance claims
- Consistently managing over 65% ratio of negotiated settlements in Motor Legal Liability claims with consent of the claimants, leading to expeditious settlement of long tail claims
- Successfully managed team performance during Natural Catastrophic events
- The Organisation received positive reviews from print media for handling the situation under extreme pressure
- Cyclone Phailin 2013
- Jammu & Kashmir Floods 2014 & Cyclone “Hudhud” 2014
- Chennai Floods 2015
- Past, onwards I was given responsibility of major clients of the divisional office on Portfolio basis (Times Of India Group, Aditya Birla (Tea & Chemical Division), )
- Training Programs attended
- Executive General Management Program by IIM Bangalore
- Induction training for Officers on Underwriting, Claims & Re insurance practices conducted by staff training college, Oriental Insurance Co
- Advance Property Insurance: Underwriting & Claims by RSA
- Advance Liability Lines: Underwriting & Claims by RSA
- Advance Marine Cargo: Underwriting & Claims by Oriental Insurance & RSA
- Motor Underwriting & Loss Assessment Technique
- Health Underwriting & Claims Handling
- Awards & Recognitions:
- Best Regional Head SBI General Insurance FY 2016-17 & 2017-18
- IAG Excellence Award (Loss Control Project –Cross Departmental Team) 2014
- IAG Excellence Awards 2016- Certificate for Leadership qualities in Individual category
- Best Regional sales performance for business development in Chola MS General Insurance FY 05-06
- Designated as “Key Resource” for contribution in claims settlement, Royal Sundaram FY 2004
- Rank 1 in officer’s trainee batch, Oriental Insurance Co
- FY 2000.
Zonal Head
Bharti Axa General Insurance
07.2008 - 02.2010
- Operations & Claims for North & East Zones reporting to National Head Claims & Operations
Branch Head
Tata AIG General Insurance Company Limited
01.2007 - 06.2008
- Responsible for three states in northern India reporting to Zonal Head - North
Regional Manager
Reliance General Insurance
05.2006 - 01.2007
- Corporate & SME Vertical) Northern territory Reporting to Regional Head North
Regional Manager
Cholamandalam MS GICL
08.2004 - 05.2006
- Japan & Korea Desk) reporting to India representative of Mitsui Sumitomo.
Team Leader
Royal Sundaram Alliance Insurance
07.2001 - 07.2004
- Commercial Claims, northern region
- Reporting to Head Claims
Regional Head
The Oriental Insurance Company
11.1991 - 06.2001
- Sales & Distribution North: Leading the north zone for Banca, Agency, SME & Alternate channels of business
- The Northern team completed 112% of the targets FY 16-17 & 104% for FY 17-18, under my leadership
- We have been chosen as the best performing region in the organisation for two consecutive years as well
- I have been awarded as Best Regional Head for FY 17-18
- Important KRAs
- Ownership of Zonal budget for Top line & Bottom line
- Administrative management of 33 Branches & 9 direct reports
- Coordination between Operations, Underwriting, Claims team for optimum results for the zone
- Member of various procurement committees at organisational level, handling technical & commercial bids for various projects., Handled Fire & Miscellaneous Underwriting & Claims departments initially for two years
- Thereafter handled Motor Legal & OD claims in division office in Delhi.
Education
Diploma - General Insurance, Software Technology
Insurance Institute of India, CMC
BA - Political Science & Economics
Delhi University
Post - Economics
Meerut University
Skills
Claims Management
undefinedAccomplishments
ABSC
Timeline
Zonal Head
Bharti Axa General Insurance
07.2008 - 02.2010
Branch Head
Tata AIG General Insurance Company Limited
01.2007 - 06.2008
Regional Manager
Reliance General Insurance
05.2006 - 01.2007
Regional Manager
Cholamandalam MS GICL
08.2004 - 05.2006
Team Leader
Royal Sundaram Alliance Insurance
07.2001 - 07.2004
Head
Mohan Meakin Limited
01.1995
Regional Head
The Oriental Insurance Company
11.1991 - 06.2001
Diploma - General Insurance, Software Technology
Insurance Institute of India, CMC
BA - Political Science & Economics
Delhi University
Post - Economics
Meerut University
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