Insurance Officer

JOB PURPOSE

Responsible for handling specific aspects of the organization's insurance portfolio, covering both aviation and nonaviation tasks. This includes managing aviation insurance such as aircraft hull, liability, and passenger liability, as well as non-aviation insurance like property, general liability, and financial risks. Also, manage employee-related coverages in liaison with other departments and other Key responsibilities include policy placements, claims management, ensuring compliance with regulatory requirements, liaising with insurers, brokers, other stakeholders, and supporting risk mitigation strategies to protect the organization's assets, employees, and passengers. Additionally, the position requires assisting the head of the department with various tasks and projects as needed.

KEY ACCOUNTABILITIES & RESPONSIBILITIES

1. Insurance Policy Management

• Assist in procuring and managing insurance policies that align with the organization's operational risks.

• Review insurance policies and contracts, ensuring they meet business and regulatory requirements.

• Monitor policy renewals, ensuring timely negotiations and placement of coverage.

• Maintain accurate records of all policies, claims, and premium payments.

2. Risk Assessment & Compliance

• Support in the risk assessments related tasks to aviation and non-aviation operations.

• Ensure compliance with aviation industry regulations (IATA, ICAO, FAA, EASA) and insurance laws i.e FSA and other authorities.

• As required work with legal and Supply Chain departments to review insurance clauses in contracts and agreements.

3. Claims Management & Coordination

• Assist in managing insurance claims, including investigations, documentation, and settlement negotiations with insurers in Aviation and non-aviation claims.

• Liaise with brokers, insurance companies, Loss adjusters, and legal departments and all internal or external stakeholder involved in the process of a of claim from the time of intimation to the final settlements.

• Ensure accurate reporting and documentation of all claims.

4. Stakeholder Engagement & Assistance to Management

• Provide professional assistance to the Head of Department and management, ensuring smooth execution of insurance-related tasks.

• Work closely with internal departments (Operations, Finance, Legal, HR, Safety) to ensure adequate risk coverage.

• Coordinate with external brokers, underwriters, and regulatory authorities for policy placements and renewals.

• Support in preparing presentations, reports, and insurance cost analyses for senior management.

5. Financial Oversight & Cost Optimization

• Support in budget planning and cost control for insurance premiums and claims.

• Analyze premium trends and recommend strategies for cost reduction.

• Assist in negotiating policy terms and pricing with insurers to ensure cost-effective coverage.

6. Training & Awareness

• Support in arranging on conducting awareness sessions for the organization related to insurance policies, claims handling, and risk management best practices or anything related to the improvement of the risk structure of the policy.

• Ensure stakeholders understand coverage terms, exclusions, and claim procedures.

7. Perform any other related tasks as assigned by the Management.

MINIMUM QUALIFICATIONS & EXPERIENCE

• Bachelor's degree in business administration, finance or any related field with a minimum of 2 years of experience preferably in insurance companies, brokers, or any related field connected to the insurance industry activities.

OR

• Diploma Holders with 4 years of relevant experience in a similar role in an airline provided the individual holds (applies to internal candidates only)

PROFESSIONAL KNOWLEDGE, CERTIFICATION OR MEMBERSHIPs

• High knowledge of the overall insurance industry framework, including insurances related to assets, liabilities, and special risks.

• Strong understanding of the insurance and reinsurance markets, including their processes and placement frameworks.

• Familiarity with regulatory insurance frameworks, both local and international.

• Chartered Insurance Institute (CII) certification, ACII, Cert, or Dip is an added advantage.

SPECIAL REQUIREMENTS

• Ability to work in a high-pressure environment with strict deadlines and extend work hours.

• Strong ethical standards and confidentiality handling sensitive insurance matters.

• Flexible with conducting tasks outside the offices and meeting stakeholders as required or instructed by the Manager.