LANCO INFRATECH LTD
- Confirming terms received from Insurance companies, preparing analysis of quotes and terms received for EPC project and EPC assets for Insurance need.
- Reviews and assesses all insurance contracts of the Company to ensure all property, other assets and personnel are adequately covered, under the various insurance policies and their provisions. Highlights areas of concern and investigates potential problems with management until questions are resolved. Initiates the placement of temporary or special insurance to meet operational needs as required from time to time.
- Evaluates proposals submitted by local insurance companies and provides the appraisals as required. Implements and monitors approved recommendations as necessary. Keep up date and maintain expert knowledge of local and international insurance systems and practices to ensure that the companies’ insurance operations are compliant.
- Liaises with the concern teams within the company to define and collect information for insurance underwriters when additional and/or specific insurances are required. Works with concern sections within the company to prepare tender package and coordinates all necessary clarification meetings. Assists in the evaluation of bids received and actively manages the administration of the resulting program.
- Techno-commercial evaluation of offer received from various bidders and thus advises Sr. Management for their approval.
- Analyzing latest marketing trends and tracking Insurance companies ’ activities and providing valuable inputs for fine tuning with Price negotiation and claims settlement strategies.
- Timely settlement of ON ACCOUNT payments/FINAL settlements of claims.
- Identify the Perils and Hazards involved in our business activity the risk vis-à-vis coverage’s, terms and conditions and cover that risk minimizing at Zero risk.
- Key recommendation with draft wordings for amendments/endorsement on the basis of Gap Analysis.
- Monitoring the process to ensure operational efficiency in the best interests of the company
- Vendor Development
- Maintaining the records of insurance policy and claims for Management review.
- Assisting procurement team for drafting insurance clause for vendor for the execution of Job.
Claims Management - Coordinate and follow up internally for proper documentation and Technical discussions with Insurers & surveyors to get the best possible indemnification