This role involves overseeing the complete insurance lifecycle, from new policy issuance to high-volume renewals and complex claim settlements. It focuses on maximizing insurance penetration while maintaining stringent regulatory compliance and fostering strong relationships with multiple insurance providers.
Key Responsibilities
- Lead the insurance department to achieve monthly targets for new vehicle insurance penetration and policy renewals.
- Manage end-to-end claim settlement processes by coordinating between customers, surveyors, and insurance companies for cashless approvals.
- Monitor and improve the renewal ratio by implementing effective tele-calling strategies and CRM data management.
- Ensure 100% adherence to IRDA guidelines and internal dealership compliance protocols to mitigate legal risks.
- Negotiate and manage relationships with various insurance partners to ensure competitive premium rates and superior service levels.
- Supervise a team of insurance executives, providing training on product knowledge, add-on covers, and objection handling.
- Generate and analyze detailed MIS reports regarding commission payouts, penetration rates, and claim TATs for senior management.
- Handle escalated customer grievances related to insurance claims and policy issuance promptly.
Requirements
- Extensive experience in motor insurance operations within an authorized automotive dealership.
- Thorough understanding of IRDA regulations, motor tariff, and various insurance add-on covers (Zero Dep, RTI, etc.).
- Proven track record of managing high-volume insurance renewals and claim settlements.
- Strong leadership skills with the ability to manage and motivate a sales-driven team.
- Proficiency in Dealer Management Systems (DMS) and advanced Microsoft Excel for data analysis.
- Excellent negotiation skills to deal with insurance surveyors and regional managers.
Preferred
- Valid IRDA Composite License holder.
- Prior experience in a Tier-1 or Tier-2 city automotive retail environment.
- Knowledge of multi-brand insurance portals and integrated claim management software.
Skills
Technical
IRDA Compliance, Motor Insurance Underwriting, Claim Settlement Workflow, DMS Operations, MIS Reporting, Risk Assessment
Soft Skills
Strategic Planning, Team Management, Conflict Resolution, Stakeholder Management, Customer Empathy
Qualifications
Education: Graduate in any stream (B.Com/BBA preferred); MBA in Finance or Insurance is a significant advantage.
Experience: 8 to 15 years of experience in the Finance & Insurance (F&I) department of a reputed automobile dealership or insurance company.
Certifications: IRDA Certification (Mandatory), OEM specific F&I training certification
Work Environment
Standard dealership office environment; 6-day work week; involves coordination with the workshop and sales floor.
Growth Opportunities
High-performing managers can transition into Regional Insurance Head roles or General Manager (F&I) positions across the company’s multi-brand dealership network.
