SHOAIB ANWAR
Pune
Summary
- Progressive experience in the outsourcing industry within Insurance & Reinsurance services sector specializing in operations/service delivery.
- Proficient in operation management activities including transition management, estimation, planning, risk management, and finalization of technical and functional specifications. Skilled in resource administration and quality management, ensuring operational efficiency and adherence to corporate standards.
- Adept at launching new projects and migrating business processes, with a proven track record of enhancing business efficiencies through technology and process improvements. Expert in customer relationship management, building strong client-vendor partnerships to achieve productivity gains.
Overview
17
17
years of professional experience
Work History
Senior Manager - Insurance/Reinsurance Operations
WNS Global Services Pvt Ltd
Pune
2022.03 - Current
- Managed day-to-day operations for 5 diverse Lloyd's insurance clients.
- Led a team of insurance professionals responsible for maintaining data entry from policy booking and renewals.
- Coordinated with internal teams, as well as external partners, throughout the policy lifecycle.
- Performed quality assurance checks on completed work prior to submission.
- Managed the Technical Accounting and Credit Control team, ensuring efficient allocation of cash received from DXC to policies booked into the system.
- Maintained accurate records of all transactions related to insurance policies.
- Managed outward reinsurance team to place reinsurance arrangements via broker and direct reinsurers
- Implemented innovative strategies that reduced operating costs while maintaining high levels of customer satisfaction.
Manager - Reinsurance Accounting - Ceded Reinsurance
Genpact India Pvt Ltd
Noida
2015.10 - 2022.03
- Managed end-to-end ceded reinsurance agreement processes from initial placement to renewals.
- Led reinsurance accounting team, responsible for monthly and quarterly accruals and settlements. Assist in data preparation for IFRS 17.
- Managed regular preparation of reconciliations for ceded balances payable and loss recoverable using Blackline software, ensuring seamless integration with the GL.
- Regular and detailed reports on reinsurance transactions (Treaty and Facultative) were provided to stakeholders, ensuring transparency and prompt information dissemination.
- Developed recommendations for enhancing operational efficiency and accuracy, by identifying and prioritizing automation opportunities.
Team Leader - Underwriting & Claims Processing
Torus Insurance -Lloyds Syndicate
Gurugram
2011.08 - 2015.09
- Managed and ensured quality control of Claims and Underwriting processing
- Updated risk details written by underwriters to support policy administration for all business classes.
- Overseeing the complete claims lifecycle, from initial notification to settlement.
- Managed and enhanced skeleton quotes in the GENIUS system to ensure accurate input and finalization of details including premiums, coverage, reinsurance arrangements, limits, and expected premiums.
- Served as a key contributor within a re-engineering team tasked with evaluating and streamlining processes and applications. Implemented lean methodology to pinpoint and eliminate inefficiencies, ultimately improving operational workflows for enhanced efficiency.
Associate - Underwriting Assistant
Xchanging Technology India Pvt Ltd
Gurugram
2007.08 - 2011.08
- Assisted in the signing off of financial transactions for Both Lloyd's Underwriters and Company Insurance & Reinsurance Underwriters and Brokers.
- Ensured accurate entry of premium details into relevant databases for US, UK, and global business while processing policies through mainframe software (LIDS & POSH).
- Investigated discrepancies in premium value written in slip document and LPAN submitted by brokers.
- Facilitated payment processing for premium payments and renewals.
Education
Master's Degree - MBA – Operation Management
Jaipur National University
Jaipur, India01.2016
Bachelor - Bachelor of Commerce
Marwari Collage- Ranchi University.
Ranchi, Jharkhand, India01.2006
High School -
Guru Nanak Higher Secondary School
Ranchi, Jharkhand, India01.2003
Skills
- Property and Casualty Insurance
- Policy Booking
- Technical Accounting
- Reinsurance Accounting
- Insurance /reinsurance Premium Calculations
- Strategic Planning
- Data Analytics
- Operations Management
- Lean/Six Sigma
- Continuous Improvement
- Quality Assurance Requirements
- Risk Management
- Business performance management
- Client Management
Accomplishments
- WNS Global Services (Dec '23): Received the Brainwave Award for process improvement ideas, resulting in a 12% productivity gain in underwriting. Implemented a control testing report to enhance data quality.
- Genpact India Pvt Ltd (2019): Certified in the "Lloyd's Learn a Thone" program, winner of the first batch. Awarded for sharing the most automation lean ideas and recognized as a Retention Champ for maintaining a 0% attrition rate. Successfully transitioned processes remotely from onshore to offshore and established process guidelines.
- Torus Insurance (Q2 2014): Awarded the Bright Star Award for team handling and maintaining 100% accuracy by applying Lean methodology. Worked with the re-engineering team to improve the policy admin system and eliminate duplicate data entries.
- Xchanging Technology (Jun-Sep 2010): Managed process transition for underwriting tasks across various lines of business, including property, casualty, and specialty, in the UK.
Timeline
Senior Manager - Insurance/Reinsurance Operations
WNS Global Services Pvt Ltd
2022.03 - Current
Manager - Reinsurance Accounting - Ceded Reinsurance
Genpact India Pvt Ltd
2015.10 - 2022.03
Team Leader - Underwriting & Claims Processing
Torus Insurance -Lloyds Syndicate
2011.08 - 2015.09
Associate - Underwriting Assistant
Xchanging Technology India Pvt Ltd
2007.08 - 2011.08
Master's Degree - MBA – Operation Management
Jaipur National University
Bachelor - Bachelor of Commerce
Marwari Collage- Ranchi University.
High School -
Guru Nanak Higher Secondary School
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