Job Purpose:
- Oversee and manage the maintenance, development, governance, and delivery of the organization's insurance provisions, ensuring that all company assets, employees, and liabilities with insurable interest are adequately covered.
- Review insurance requirements and risk assessments across all business units, including evaluating risk exposure, cost-mitigation strategies, and policy clauses to ensure optimal coverage and value.
- Lead the renewal of the Group Insurance Programme, ensuring continuity and alignment with business needs.
- Manage the claims process, from initial notification to final settlement, ensuring timely and fair resolution.
- Act as an insurance advisor to operational units, Legal, Procurement, and Operation teams, providing expert guidance on insurance matters.
- Contribute to system development, data analytics, and dashboard reporting to improve the efficiency and effectiveness of insurance operations.
- Reviewing contractual provisions related to insurance, liability, and indemnity to ensure clarity and alignment with project requirements.
- Maintain and update internal insurance policies and SOPs to align with regulatory requirements and business needs.
- Lead the review of insurance clauses in commercial contracts, including leases, construction, consultancy, and JV agreements.
- Support M&A or land transactions by evaluating insurable risks and reviewing historical loss data.
- Contribute to ESG integration within insurance planning and risk management strategies.
- Assist legal involved in litigation, adjudication, or arbitration for claim disputes.
- Prepare & present report on the status, costs and resolution of all insurance claims, including emerging issues to compliance & risk committee.
Job Responsibilities:
- Ensure the insurance team is well-informed about their responsibilities and operates efficiently to meet departmental goals.
- Maximize the value and performance of insurance programs by managing them within budget and meeting established targets.
- Identify insurable risks and recommend effective risk transfer solutions to mitigate exposure.
- Organize and coordinate risk management surveys and site visits to evaluate potential insurance needs and risks.
- Drive the renewal process by preparing underwriting documentation and addressing queries from insurers or brokers.
- Review and negotiate insurance clauses in commercial contracts to ensure adequate coverage and protection.
- Assist departments in resolving insurance-related queries and disputes regarding claims.
- Conduct regular reporting and analysis of key performance indicators (KPIs), claims trends, and overall insurance costs to guide decision-making.
- Develop training materials and conduct sessions for internal stakeholders to improve insurance knowledge and understanding.
- Benchmark insurance placements and premiums against market standards to ensure competitive and cost-effective solutions.
- Lead vendor relationship management with brokers and insurers to maintain strong and effective partnerships.
- Evaluate and recommend changes to insurance systems and digital tools to enhance operational efficiency.
- Contribute to ESG risk disclosure efforts and develop risk mitigation strategies aligned with environmental, social, and governance principles.
Job Dimension (Impact and Accountabilities):
- Ensure that all properties under SDPB are fully insured and covered against potential risks.
- Ensure smooth operations of the insurance department, recognizing that disruptions may impact both external and internal parties (e.g., insurers, subsidiaries, other departments).
- Take the lead in business development efforts related to insurance, ensuring cost-effective, high-quality services are delivered to the business units.
- Minimize risk and maximize profit by effectively managing the organization's insurance portfolio, ensuring financial stability and compliance.
Education/ Professional Qualification:
- Bachelor (Hons) Insurance
- Chartered Insurance Institute (CII)
- Associate Malaysia Insurance Institute (AMII)
Professional Experience:
- 10 years experience on insurance background
