Insurance Supervisor

Position Overview

We are seeking a highly skilled and strategic Insurance Supervisor to oversee and optimize our corporate insurance portfolio. This pivotal role is designed to ensure comprehensive, cost-effective, and compliant insurance coverage across all operational domains, including employees, assets, supply chain activities, and multi-branch retail operations. The successful candidate will play a critical part in administering insurance policies, negotiating contracts with insurers and brokers, managing claims, and aligning insurance strategies with corporate risk management objectives. This position demands a proactive leader with a deep understanding of commercial insurance products, regulatory compliance, and the unique challenges of a dynamic retail environment.

Key Responsibilities

The Insurance Supervisor will be responsible for the following core functions:

• Insurance Portfolio Management: Oversee the entire insurance program to ensure all policies are renewed promptly and aligned with the company’s evolving risk profile and business objectives.
• Medical Insurance Administration: Manage the corporate Medical Insurance Program, including policy administration, employee support, and seamless coordination with healthcare providers and insurers to deliver exceptional service and coverage.
• Motor Insurance Oversight: Supervise the company’s fleet insurance, handling policy issuance, renewals, endorsements, and claims management to mitigate financial exposure and ensure operational continuity.
• Property Insurance Stewardship: Manage Property Insurance for all physical assets, including retail stores, warehouses, offices, distribution centers, and equipment, ensuring adequate protection against potential risks.
• Marine Cargo and Transit Insurance: Oversee coverage for domestic and international shipments, ensuring robust protection for goods in transit and efficient claims resolution to minimize disruptions.
• Risk Assessment and Coverage Recommendations: Evaluate the organization’s insurance requirements and propose tailored coverage solutions that address operational and business risks while optimizing cost efficiency.
• Insurance Tendering and Procurement: Lead Request for Proposal (RFP) and Request for Quotation (RFQ) processes, evaluate technical and commercial proposals, and select the most suitable insurance providers to meet the company’s needs.
• Contract Negotiation and Review: Negotiate insurance contracts, including policy terms, exclusions, deductibles, premiums, and service level agreements, to secure optimal coverage and favorable terms. Conduct thorough reviews to ensure compliance with corporate policies and legal requirements.
• Claims Management: Oversee the entire claims lifecycle, from initial notification to final settlement, ensuring timely resolution, maximizing recoveries, and maintaining strong relationships with loss adjusters and stakeholders.
• Stakeholder Engagement: Develop and nurture strategic relationships with insurance companies, brokers, loss adjusters, and other key stakeholders to enhance service delivery and negotiation leverage.
• Market Intelligence and Strategy: Monitor industry trends, regulatory changes, and emerging risks to recommend enhancements to insurance programs and risk financing strategies that align with business goals.
• Reporting and Governance: Prepare comprehensive reports for senior management, detailing insurance costs, claims analysis, policy performance, risk exposure, and renewal recommendations to inform strategic decision-making.
• Compliance and Audit Support: Ensure adherence to all applicable insurance regulations, internal governance policies, and audit requirements to mitigate legal and operational risks.
• Business Continuity and Risk Management: Collaborate with enterprise risk management teams to integrate insurance planning into broader business continuity strategies, safeguarding the organization’s assets and operations.

Qualifications and Experience

To excel in this role, candidates must meet the following criteria:

• Education: Bachelor’s degree in Insurance, Finance, Business Administration, Risk Management, or a related field. Professional certifications in Insurance or Risk Management are highly desirable.
• Experience: Minimum of 5–8 years of progressive experience in corporate insurance management, with a proven track record in a multi-branch retail environment. Hands-on experience managing Medical, Motor, Property, and Marine Cargo/Transit Insurance is essential.
• Technical Proficiency: Advanced skills in Microsoft Excel and the Microsoft Office Suite, with the ability to analyze complex insurance data and generate insightful reports.
• Core Competencies:
  • Exceptional negotiation and contract management abilities.
  • Deep knowledge of commercial insurance products and market practices.
  • Strong analytical skills to interpret insurance policies and contractual terms.
  • Proven expertise in claims management and dispute resolution.
  • Excellent communication, presentation, and stakeholder management capabilities.
  • Ability to multitask and prioritize effectively in a fast-paced retail setting.
  • Leadership qualities with a strategic mindset and problem-solving acumen.

Key Performance Indicators

The Insurance Supervisor will be evaluated based on the following metrics:

• Annual insurance cost savings achieved through strategic negotiations and policy optimization.
• Timely renewal of all insurance policies within agreed deadlines.
• Efficient claims settlement turnaround time and high claims recovery ratio.
• Reduction in uninsured or underinsured exposures across the organization.
• Successful implementation of risk mitigation strategies and compliance with regulatory requirements.