Corporate Control- Insurance
Insurance Program Structure:
- Work with BGs / BUs to design and recommend optimum insurance program structure in terms of coverage and premium cost;
- Annual review of all policy wordings and coverage to ensure all exposures are either insured or drawn to BGs’ / BUs’ attention;
- Assist in reviewing exposure/insurance values to ensure it is adequate for insurance purposes;
- Collation of BGs’ / BUs’ insurance data for senior management review whenever required.
Renewal of Insurance Programs:
- Review and address key renewal strategy with BGs / BUs at least 3 months prior to policy expiring;
- Assist in the preparation, review and analysis of claims experience at least 3 months before each key renewal and suggest appropriate measures to take on renewal;
- Assist in preparation of risk presentation to brokers and / or insurers before each key renewal;
- Assist in the review and selection of insurance markets when required;
- Assist in the negotiation of competitive terms in the insurance market with brokers as required;
- Assist in the analysis of renewal terms for each class of risk together with alternative cover and premium options where applicable.
Management of Insurance Programs and Claims:
- Provide advice on alternative risk transfer and/or risk control and/or risk financing options where applicable;
- Provide general insight on local and global insurance market developments that BG / BU may benefit from;
- Assist in negotiations with insurers and loss adjusters on major claims;
- Regular review meetings with BG / BU to monitor developments on insurance issues;
- Assist in answering coverage issues or questions when requested;
- Assist in liaising with insurers and / or brokers to obtain most competitive coverage terms whenever required;
- Provide advice on premium projections, forecast, trends and budgets when required;
- Presentations to BGs / BUs / senior management teams on insurance coverage whenever required;
- Manage the 3 captive insurance companies of RGE that are based in Labuan;
- Co-ordinate with China insurance team to ensure insurance strategies are aligned.
To be sucessful in this role, the candidate should have 5-10 years of working experience in a similar role.
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