VAIDYANATH BALASUBRAMANIAN
Seasoned Insurance Professional with Underwriting & Sales experience
Thane
Summary
A seasoned professional with over 22 years of experience in the General Insurance industry with strong acumen in Liability lines underwriting & Global Network business.
Admirable advanced technical expertise, underwriting skills and a high level of knowledge of insurance and underwriting principles, practices and procedures; profound knowledge of manuscript forms and managing individual portfolios.
Adept in managing global inward & outward business for commercial lines; good experience with handling large accounts, managing a mix of business strategies, portfolios and product development.
Adept at developing and maintaining relationships with Intermediaries (Brokers) in support of business retention and acquisition and works with customers and brokers to determine their insurance-related needs and providing the solution.
In-depth knowledge of GI function & risk exposures; deft at analyzing and underwriting individual risks with developing appropriate limit structure, retention pricing, and endorsements.
Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
Overview
22
22
years of professional experience
8
8
years of post-secondary education
Work History
Head – Specialty Lines & Large Corporates
SBI General Insurance Company Limited.
2023.05 - Current
- Self-motivated, with a strong sense of personal responsibility
- Responsible to strategize & manage corporate broking relationship
- Strategizing to scale up in other niche business segment – Cyber, Credit, Surety, Contingency lines etc.
- Regular evaluation of strategies in order to build a healthy portfolio on P&C, EB lines with focus on building a profitable book
- Providing inputs to the Company on writing multinational programs in Casualty lines
- providing support to the Company on Product Development needs
National Sales Manager – Specialty Lines
SBI General Insurance Company Limited
2020.11 - 2023.05
- Developed and implemented effective sales strategies and led nationwide sales team members to achieve sales targets on Specialty lines
- Analyzed industry trends to maintain pricing strategies and product offerings
- Established and maintained budgets, quotas and regional territories for team members to drive consistent growth
- Monitor the external and internal business environment for any potential business risks or opportunities that may affect the Company’s strategy / objectives and proactively advise Internal Stakeholders of these factors (and suggest strategies to address these).
• Developing business objectives in consultation with the Stakeholders. Develop and grow relationships with existing Brokers to maximise business opportunities
Assistant Vice President - Casualty Underwriting
SBI General Insurance Company Limited
2019.05 - 2020.11
- Fostered strong relationships with clients, Intermediaries, leading to business growth - maintain expert knowledge and market intelligence within portfolio for developing networks
- Expanded market presence through targeted marketing campaigns, increasing brand awareness among prospective clients in target segments.
- Portfolio management - monitoring the performance of products in the allocated portfolio to ensure business targets are achieved;
- Using Market segmentation data, identify profitable areas as future potential markets for expansion within product portfolio
- Coordination with Reinsurance team for FAC placements, treaty referrals and negotiations
Chief Manager - Casualty Underwriting
SBI General Insurance Company Limited.
2015.06 - 2019.04
- Directed marketing efforts leading to increased brand awareness and a growing customer base.
- Support & Advice on their portfolio which would comprise of Casualty & Financial lines of businesses.
- Responsible for the implementation of detailed underwriting rules and guidelines
- Anchor IT development for developing raters for Liability lines
- Contribute to the development & implementation of Casualty Strategy - in the development of Risk Appetite, Referral templates, Quote formats, Underwriting Manuals, Product filing & liaison with internal stakeholders from Actuarial, IT, Legal functions
Corporate Sales & Broking Manager - Global Busines
Magma HDI General Insurance Co. Ltd.
2013.06 - 2015.05
- Experience in managing Global Network business for all Commercial lines by coordinating with Global Network team in growing business for all Commercial lines. One-point contact for administering Global Network business on Underwriting, Claims, Reinsurance and Financial reconciliation
- Facilitated successful cross-functional collaborations for the completion of key projects, fostering strong working relationships among team members.
- Mentored junior team members for career advancement & product knowledge
- Established team priorities, maintained schedules and monitored performance.
Assistant Vice President – Liability Insurance
Aon Global Insurance Brokers Private Limited
2012.11 - 2013.05
- Fostered strong relationships with key clients, leading to business and a significant increase in customer satisfaction ratings.
- Attended weekly meetings and special sessions of Leadership Teams and contributed to business initiatives and growth
Manager – Casualty & Liability Underwriting
Royal Sundaram Alliance Insurance Company Limited
2007.01 - 2012.11
- Accomplished multiple tasks within established timeframes
- Developed and implemented business strategies to achieve business goals and stay competitive
- Responsible for the implementation of detailed underwriting rules and guidelines
- Anchor IT development for developing raters for Liability lines
- Contribute to the development & implementation of Casualty Strategy - in the development of Risk Appetite, Referral templates, Quote formats, Underwriting Manuals, Product filing & liaison with internal stakeholders from Actuarial, IT, Legal functions
- Supported RSA KSA operations for Product filings for Casualty lines
- Managed Global Network business for all Commercial lines by coordinating with other RSA offices worldwide and Global Network team in growing business for all Commercial lines. One-point contact for administering Global Network business on Underwriting, Claims, Reinsurance and Financial reconciliation
Deputy Manager – Product & Portfolio Support
HDFC Bank Limited., India (Credit Cards Division)
2005.11 - 2007.01
- Identified areas for improvement within the department, implementing strategic initiatives to address gaps in performance or resources.
- Requirement Analyst role, wherein information from the cross functional teams are collated, studied and provide a viable process solution - Identify & review process gaps and initiate system level changes
- Instrumental in rolling out around 15 programmes in six months
- Collaborated with cross-functional teams to drive business growth and achieve corporate objectives.
Senior Executive
Royal Sundaram General Insurance Co
2002.08 - 2005.11
- Streamlined operations for increased efficiency by identifying bottlenecks in sales processes and implementing targeted solutions.
- Provided technical support on Liability lines for the branch operations
- Supported team for technical meetings and product trainings
- Prepare underwriting information & analysis, prepare and deliver technical presentation
Education
Master's in Financial Management -
Sri Sathya Sai Institute of Higher Learning, Prashantinilayam, India
1999.01 - 2001.04
Master of Science in Chemistry - undefined
Sri Sathya Sai Institute of Higher Learning, Prasanthinilayam, India
1997.01 - 1999.04
Bachelor of Science (Hons.) in Chemistry - undefined
Sri Sathya Sai Institute of Higher Learning, Prasanthinilayam, India
1994.01 - 1997.04
Skills
Corporate Sales Management
Personal Information
- Date of Birth: 02/03/76
- Gender: Male
- Nationality: Indian
Languages
English
Hindi
Accomplishments
Member of 2010 Fast Track batch – Fast Track is a leadership development programme sponsored by RSA in nurturing talent and developing young leaders. As part of this, I was involved in a project on developing Social Media Strategy for RSA Canada
Timeline
Head – Specialty Lines & Large Corporates
SBI General Insurance Company Limited.
2023.05 - Current
National Sales Manager – Specialty Lines
SBI General Insurance Company Limited
2020.11 - 2023.05
Assistant Vice President - Casualty Underwriting
SBI General Insurance Company Limited
2019.05 - 2020.11
Chief Manager - Casualty Underwriting
SBI General Insurance Company Limited.
2015.06 - 2019.04
Corporate Sales & Broking Manager - Global Busines
Magma HDI General Insurance Co. Ltd.
2013.06 - 2015.05
Assistant Vice President – Liability Insurance
Aon Global Insurance Brokers Private Limited
2012.11 - 2013.05
Manager – Casualty & Liability Underwriting
Royal Sundaram Alliance Insurance Company Limited
2007.01 - 2012.11
Deputy Manager – Product & Portfolio Support
HDFC Bank Limited., India (Credit Cards Division)
2005.11 - 2007.01
Senior Executive
Royal Sundaram General Insurance Co
2002.08 - 2005.11
Master's in Financial Management -
Sri Sathya Sai Institute of Higher Learning, Prashantinilayam, India
1999.01 - 2001.04
Master of Science in Chemistry - undefined
Sri Sathya Sai Institute of Higher Learning, Prasanthinilayam, India
1997.01 - 1999.04
Bachelor of Science (Hons.) in Chemistry - undefined
Sri Sathya Sai Institute of Higher Learning, Prasanthinilayam, India
1994.01 - 1997.04
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