VINAY K.
Risk and Insurance Manager
Summary
A dedicated Insurance professional with over 12 years of experience in Property and Casualty Insurance and a focus on risk management. Proven expertise in strategizing insurance requirements, streamlining claims protocols, and managing procurement processes for commercial insurance policies. Adept at collaborating with global teams and stakeholders to ensure efficient risk transfer and cost savings. Seeking a managerial role in Operations and Transition to contribute to the success of a reputed organization.
Overview
12
12
years of professional experience
1
1
Certification
Work History
Manager
Sutherland Global Services
06.2023 - Current
- Playing a pivotal in ensuring the smooth administration of insurance-related tasks, risk management, and maintaining compliance across different areas
- Certificates of Insurance Management: Overseeing and managing certificates of insurance for the Company and affiliated businesses, ensuring compliance and accuracy
- Coordination of Data Collection and Submission: Coordinating the collection, review, and submission process for casualty and property insurance lines, including Workers Comp
- Analysis of Insurance Data: Conducting analysis on premiums, claims, valuations, and various risks associated with insurance programs to provide insights for decision-making
- Documentation Maintenance: Maintaining submission, policy, and invoice documentation within appropriate insurance drives for easy accessibility and reference
- Monthly Report Submissions: Monitoring and coordinating the collection of monthly required reports, ensuring timely submission
- Support for Accounting: Providing supporting documentation for monthly accruals to the accounting department upon request
- Insurance Contract Review: Collaborating with brokers for the initial review of insurance contract terms to ensure compliance with Company standards and regional requirements
- Administration of Insurance Claims: Handling administration tasks related to property and cargo insurance claims, including data consolidation, coordination with third parties, brokers, and carriers
- Risk Management Process Maintenance: Updating and maintaining risk management processes and procedures, contributing to the development of new guidelines as the program evolves
- Coordination with Insurance Broker: Working closely with the insurance broker on follow-ups related to open items lists and other pertinent matters
- Annual Corporate Budgeting Support: Assisting with the annual corporate budgeting exercise as required by providing relevant insights and data
- Attendance and Participation: Attending relevant meetings, conferences, and training sessions to stay updated on industry trends and best practices
- Ad Hoc Risk Management Activities: Performing other risk management-related activities as needed or assigned
- Workers' Compensation and IP Policy Management: Overseeing and managing the Workers' Compensation policy and IP Policy, ensuring compliance, accurate documentation, and timely processing of related tasks.
- Drove operational efficiency through data-driven decision-making processes, leveraging analytics tools for informed strategy development.
- Conducted competitive analysis to identify market trends and capitalize on emerging opportunities for growth.
- Cultivated partnerships with external stakeholders to maximize business opportunities and extend network reach within the industry sector.
- Established robust risk mitigation strategies to safeguard against potential operational challenges or disruptions.
- Achieved departmental goals by developing and executing strategic plans and performance metrics.
Assistant Manager
ResourcePro
01.2021 - 05.2023
- Creating a dynamic work culture and managing 4 team leaders with other 70 individuals operating under them
- Leading team members in achieving process KPI's and productivity targets for property & casualty insurance
- Drafted SOP/Procedures for new submission as well as clearance, Renewals, Quote, Endorsement, Binder, Policy issuance, WC Audits, WC Criticism, for Property, GL, Auto, Excess, Workers Compensation, and Directors and Officers
- Creating of First Notice of Loss (FNOL) and request for additional documents as suggested by the adjuster to assess the claims
- Use different tools such as MSB report, Better View roof report to assess the property value and provide property coverage chosen such as Replacement Cost, Actual Cash Value etc
- Keeping delinquency under control
- Performing Compliance of policy and processes
- Reporting of location metrics like Login, Approval, Disbursal, Rejection, Deviation on monthly basis as per prescribed format
- Conducting Market Research and Feedback for new product launch
- Ensuring that every team member delivers per defined client Service Level Agreement (SLA) and achieves their Key Performance Indicators (KPIs)
- Reviewing processes and making recommendations for improvement in overall performance / CSAT; this includes ideas for continuous improvement
- On boarded clients for the US P&C Insurance clients – Specialized in MGA and Carrier clients
- Maintained 100% consistency in quality of the team for 12 months and received certification for the same
- Conducted China Visits 5 times as a part of transitions, transitioned 26 different tasks from RSP China to RSP India
- Effectively transitioned 6 US Clients (Carrier and MGA's) using remote training with 35 different tasks, and increased the team capacity by 300%.
Team Leader - Property and Casualty Insurance (underwriting)
ResourcePro
07.2018 - 12.2020
Analyst
ResourcePro
01.2017 - 06.2018
Associate
ResourcePro
07.2015 - 12.2016
Process Associate
TCS - Allianz Insurance
08.2012 - 03.2015
- Operated Root Cause Analysis (RCA) for Customer Facing Errors in the team; Evaluated SOP's Database and conveyed information to the relevant teams in meetings
- Assisted in transition of system from VS10 to ALIP
- Bagged “Extra Mile Award” 3 times for best performance in the process
- Achieved “Spot Light” Award for Best Employee for maintaining 100% productivity, quality and overall performance
- Appreciation received from customers and management for running smooth transitions and increasing the charged FTE in the project.
Education
Bachelors of Commerce - Financial Accounting
National Degree College, Basavanagudi
Bengaluru06.2012
Skills
Cross-Functional Coordination
Underwriting Strategy & Coordination
Client Relationship Management
Property and Casualty Insurance
Stakeholder & Team Management
Insurance Needs Assessment
Risk Management
Procurement and Renewal Management
Claims Management
Contract Review and Compliance
Data Analysis and Reporting
Certification
Scrum Master
Work Preference
Work Type
Full TimeLocation Preference
On-SiteRemoteHybridImportant To Me
Healthcare benefitsPaid time offWork from home optionStock Options / Equity / Profit SharingPersonal development programsAccomplishments
- Documented and resolved gaps in procedure which led to client escalation.
- Supervised team of 70+ staff members.
- Achieved 80% direct margin by introducing Process Improvement ideas and Introducing New Approach in Training.
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Scrum Master
02-2024
Manager
Sutherland Global Services
06.2023 - Current
Assistant Manager
ResourcePro
01.2021 - 05.2023
Team Leader - Property and Casualty Insurance (underwriting)
ResourcePro
07.2018 - 12.2020
Analyst
ResourcePro
01.2017 - 06.2018
Associate
ResourcePro
07.2015 - 12.2016
Process Associate
TCS - Allianz Insurance
08.2012 - 03.2015
Bachelors of Commerce - Financial Accounting
National Degree College, Basavanagudi