Santosh Krishna Bakave
Nalasopara East
Summary
To contribute to organization’s effectiveness by utilizing my knowledge to the full in conceptualizing, developing and implementing systems and constantly enhance professional competence
Overview
23
23
years of professional experience
Work History
Insurance Manager – Finance & Accounts Insurance Cell
Camlin Fine Sciences Limited
11.2024 - Current
- Assess the organization's insurance needs and determine appropriate coverage
- Evaluate and select insurance policies that best fit the company’s risk profile
- Negotiate terms and premiums with insurance providers
- Ensure timely renewal of policies and maintain accurate records of all insurance documentation
- Identify potential risks and develop strategies to mitigate them
- Implement and monitor risk management policies and procedures
- Advise senior management on risk-related issues and recommend improvements
- Manage the claims process from initiation to settlement
- Liaise with insurance providers to ensure timely and fair settlement of claims
- Investigate and document incidents that may lead to claims
- Maintain detailed records of all claims and correspondence with insurers
- Ensure compliance with all relevant laws and regulations regarding insurance
- Prepare and submit required reports
- Keep abreast of changes in insurance legislation and industry practices
- Provide regular reports to senior management on insurance coverage, claims status, and risk management activities
Senior Manager – Finance & Accounts Insurance Cell
Reliance Infrastructure Limited
07.2017 - 11.2024
- Design a comprehensive insurance program to ensure that all risks are covered appropriately
- Assess, identify, and quantify the various risks associated on a continuous basis
- Interact with Insurance Broker for the design and placement of the insurance program
- Co-ordinate with various internal departments to obtain the necessary information required for the placement on an ongoing basis for any changes
- Ensure that the terms obtained on competitive basis are overall best suited for the business requirements
- Ensure that the insurance coverage is always adequate and continues without any breaks or gap
- Follow-up and obtain the documentation after the placement and verify that everything is as per requirement
- Arrange for endorsement(s) as and when required for any changes in the insurance program
- In case of any loss(es), ensure prompt reporting of the same to the Insurer / Insurance Broker, follow-up with surveyor for survey, co-ordinate for submission of documents to the Surveyor / Insurer, negotiate with them for the early settlement of the claim(s)
- Claims management by timely action for loss minimization, analyze the actual cause of loss, recover the loss under terms of the insurance policy
- Calling quotations & taking coverage from Insurance companies as per Their requirement
- Interacting with Other Group Companies for their insurance Requirements And coordinating with Insurance Company for best quotes
- Pursuing proper and apt documentations in support of settlement of claims
- Follow up with Insurance Company the claim settled of Rs9.53 Corers Under Group Personal Accident Policy as on date
- Looking Employee’s Mediclaim Policy and Group Term Policy
- Looking Vehicle Insurance of Group Companies for their insurance Requirements
- Timely risk identification, risk evaluation & timely renewal of existing Policies
- (Before Due Dates)
- Negotiating for best quote with Insurance Co
- (Pvt and Public Sector)
- Documentation, preparation of statistics, monthly basis renewals, follows up With Underwriters (Insurance Co) of the above key responsibilities area
Assistant Manager – Central Operations
Reliance Life Insurance Company Limited
08.2006 - 06.2017
- Issuance & Underwriting of Group Contracts
- Renewal of Group Contracts, Additions & Deletions
- Group Policy Servicing :- Processing Contributions, Fund Switches, Premium Redirections
- Processing Vendor Bill on Sap Module
- Providing Premium Summaries, Fund Management Calculations
- Exceptional Handling of Non Employer-Employee contracts
- MIS & Reports (IRDA BAP Report)
- Coordinating with R & C , Product , Actuaries for Exception Cases
- Coordinating with Sales, IT , Products , Actuaries for System set up and enhancements
- Printing & Dispatch of Policy Documents and all kind of notices to clients
Customer Service Representative
Bajaj Allianz Life Insurance Co. Ltd
08.2005 - 08.2006
- Licensing / Maintain Records
- Checking and verifying of all document necessary for issuing of licence
- Generating of Licence in IRDA Site
- Co-ordinating with various branches of western region for timely Issuance of individual and corporate licenses
- Maintaining files of licensed applications branch and sending photocopies to HO Periodically
- Also maintaining 100 hrs training Certificates and exam passing certificates branch wise
- Scheduling Online & Manual Exam with (Insurance institute of India)
Assistance Executive
ICICI Prudential Life Insurance Co. Ltd
01.2002 - 08.2005
- Accepting and verification of new proposals deposits and renewals
- Policy servicing like change of address, nominee
- Refund, Assignment and Cancellation
- Handling escalated complaints of the customers
- Maintaining a daily MIS of Branch SLA and process
- Basic underwriting of New proposal
- Handling cash counter and Front desk for external and internal queries
- Handling Bank Reconciliation Statements
- Medical Updating and Callback to doctors, following up for the same
- Keeping follow ups of Movement of cases between branch underwriting and branch operations
- Hand Delivery of Policy Document to Customer/Sales
Education
B.Com -
Mumbai University
01.2001
H S C -
Mumbai Board
01.1995
S S C -
Mumbai Board
01.1993
Skills
- Goal Oriented
- Hard Working Individual
Languages
English
Hindi
Marathi
Academicsqualification
- Mumbai University, B.Com, 2001, Pass Class
- Mumbai Board, H S C, 1995, Second Class
- Mumbai Board, S S C, 1993, First Class
Expectedctc
25 To 30% Growth of my CTC
Awards
- Received an appreciation award from CEO of the company for outstanding performance for the year 2006-2007 and 2007-2008 by Reliance Life Insurance Company.
- Qualified in Goa Tour by achieving renewal target of 60 lacs in a month.
- Received an appreciation award from CEO of the company for outstanding performance and best Employee for the year 2016-2017 by Reliance Nippon Life Insurance Company.
Disclaimer
I hereby declare that statements given above are true and correct in best of my knowledge.
Personal Information
- Current CTC: 15,12,000/- per annum
- Notice Period: 30 days to 60 days
- Date of Birth: 09/03/76
- Gender: Male
- Nationality: Indian
- Marital Status: Married
Timeline
Insurance Manager – Finance & Accounts Insurance Cell
Camlin Fine Sciences Limited
11.2024 - Current
Senior Manager – Finance & Accounts Insurance Cell
Reliance Infrastructure Limited
07.2017 - 11.2024
Assistant Manager – Central Operations
Reliance Life Insurance Company Limited
08.2006 - 06.2017
Customer Service Representative
Bajaj Allianz Life Insurance Co. Ltd
08.2005 - 08.2006
Assistance Executive
ICICI Prudential Life Insurance Co. Ltd
01.2002 - 08.2005
H S C -
Mumbai Board
S S C -
Mumbai Board
B.Com -
Mumbai University
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