Insurance Supervisor

Role Overview

The Insurance Supervisor will be responsible for steering the organization’s insurance function, making sure coverage is comprehensive, practical, and cost-efficient for employees, company assets, operating activities, and supply chain movements. This position focuses on policy administration, claim handling, insurer and broker coordination, contract negotiations, and adherence to company rules and regulatory obligations within a multi-branch retail setup.

Core Responsibilities

• Manage the full insurance portfolio and ensure renewals are completed on schedule.
• Administer the company medical insurance program, including policy support, employee assistance, and liaison with insurers and healthcare partners.
• Handle fleet motor insurance activities such as policy creation, renewals, endorsements, vehicle additions and deletions, and claim processing.
• Oversee property insurance for stores, warehouses, offices, distribution centers, equipment, and other business assets.
• Coordinate marine cargo and transit insurance for local and overseas shipments, ensuring appropriate coverage and efficient claim support.
• Assess business insurance needs and recommend suitable coverage based on operational exposure and risk profile.
• Run insurance tender processes such as RFPs and RFQs, compare technical and commercial submissions, and advise on the best provider selection.
• Negotiate policy wording, exclusions, deductibles, premiums, contract terms, and service levels with insurers and brokers to secure strong protection at the right cost.
• Examine insurance agreements to confirm alignment with company policies, legal obligations, and risk management goals.
• Track every insurance claim from initial notice to final settlement, aiming for timely closure and strong recovery outcomes.
• Build and maintain productive relationships with insurers, brokers, loss adjusters, and other relevant parties.
• Keep an eye on insurance market movements and suggest enhancements to insurance structures and risk financing approaches.
• Prepare regular management reports covering insurance spend, claims trends, policy performance, risk exposure, and renewal actions.
• Ensure observance of insurance regulations, internal governance standards, and audit expectations.
• Contribute to business continuity and enterprise risk management efforts through effective insurance planning.

Qualifications and Experience

• A bachelor’s degree in Insurance, Finance, Business Administration, Risk Management, or a closely related discipline is required.
• Professional insurance or risk management certification is preferred.
• At least 5 to 8 years of progressive experience in corporate insurance management is required.
• Experience in the retail sector, especially in multi-branch organizations, is strongly preferred.
• Practical exposure to medical, motor, property, and marine cargo/transit insurance is required.
• Solid background in claims management and insurance contract administration is expected.
• Proven capability in negotiating insurance agreements and leading tender processes is necessary.

Skills and Competencies

• Strong negotiation ability and contract management expertise.
• Good understanding of commercial insurance products and market practices.
• Ability to review and interpret policy wording and contractual clauses accurately.
• Effective claims handling and dispute resolution skills.
• Strong analytical, financial, and reporting capabilities.
• Advanced command of Microsoft Excel and the Microsoft Office suite.
• Clear communication, presentation, and stakeholder management skills.
• Capacity to manage competing priorities in a fast-moving retail environment.
• Leadership, planning, and problem-solving strengths.

Performance Measures

• Yearly reduction in insurance costs.
• Timely completion of policy renewals.
• Fast turnaround for claim settlements.
• Improved claim recovery rate.
• Lower exposure to uninsured or insufficiently insured risks.
• High employee satisfaction with the medical insurance program.
• Better outcomes in contract negotiations and premium control.
• Compliance with insurance policies, regulations, and internal audit requirements.
• Accurate and prompt insurance reporting.
• Ongoing improvement in coverage quality and risk mitigation measures.