Officer - Insurance Accounting

Purpose of the Role

To support the day-to-day operations of the corporate insurance function by ensuring timely accounting entries, policy administration, claims coordination, compliance activities, MIS reporting, documentation, and liaison with internal stakeholders, insurance brokers, and insurance companies.

Key Responsibilities

1. Insurance Accounting & Financial Support

• Pass monthly insurance-related accounting entries including:
• Premium receipt entries
• Policy endorsement entries
• Recurring journal entries
• Provision entries
• Ensure timely reconciliation of insurance-related transactions.
• Review CD statements and coordinate for necessary corrections.

2. Policy Administration

• Create insurance certificates for Marine and Travel insurance.
• Coordinate policy issuance and endorsements.
• Ensure timely addition of new warehouse/location endorsements.
• Monitor daily stock declarations and policy coverage adequacy.

3. Claims Management

• Coordinate with insurance brokers, surveyors and internal stakeholders for claim processing.
• Arrange survey visits wherever required.
• Collect and verify claim documentation.
• Track claim status and resolve queries with insurers/brokers.
• Follow up for timely settlement of claims.

4. MIS & Reporting

• Maintain and update Claim MIS.
• Prepare and circulate monthly claim reports.
• Maintain ECGC Tracker.
• Generate periodic reports required by management.

5. Compliance & Regulatory Activities

• Submit Monthly ECGC declarations.
• Submit Quarterly E-commerce declarations.
• Ensure timely compliance with insurance policy requirements.

6. Procurement & Payment Coordination

• Raise Purchase Orders (PO).
• Process Goods Receipt Notes (GRN).
• Raise advance requests.
• Coordinate invoice submission and payment processing.

7. Documentation & Record Management

• Maintain insurance policy files.
• Maintain claim files.
• Ensure proper filing of endorsements, certificates and compliance documents.
• Support audits by providing insurance-related documentation.

Educational Qualification

Essential

• B.Com
• BBA (Finance)

Preferred

• MBA (Finance)
• Insurance Institute of India (III) Certification
• Diploma in Insurance

Experience

Preferred Experience: 2–4 years

Experience in one of the following:

• Corporate Insurance Department
• Insurance Broker
• General Insurance Company
• FMCG / Manufacturing Company
• Logistics Insurance Operations

Technical Skills

• Strong MS Excel
• SAP knowledge
• Insurance documentation
• Claims handling
• MIS preparation
• Accounting basics
• Documentation management

Behavioural Competencies

• Excellent attention to detail
• Strong follow-up skills
• Good communication
• Stakeholder coordination
• Analytical mindset
• Time management
• Ability to manage multiple activities simultaneously

Preferred Candidate Profile

• Commerce graduate with experience in corporate insurance operations.
• Familiarity with Marine, Property, Transit and Travel insurance.
• Good understanding of claim documentation.
• Comfortable coordinating with brokers, insurers, finance and operations teams.
• Proficient in Excel and ERP systems.