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Date: 26-May-2023

Location: Delhi, DL, IN, 110057

Company: Hero Motocorp

Short Description

Insurance Portfolio of all Corporate Assets, Finished Stock ,Raw Materials, Employee Benefit Health Policies, Motor Portfolio is centralised at Corporate office , and respective departments consent is taken before entering into the renewal if contract terms and conditions are changed 1. Dealer Visits ;- All zones , are visited keeping a centrally located zone as area of presentation and entire set up is discussed and what are the key areas where dealer wants improvement for claims settlement. It resulted in successful implementation of lodging the claim through DMS. 2. Dealer Visits & Stockist Visit: - Pan India visit with respective Insurance Company for the purpose of taking note of their concerned areas, and resolving issues in case of any. 3. Liaison With Insurance Companies:- As for various policies , we have inducted different insurance players whosoever is best in terms of price and servicing the said risk, with experience in handling risk portfolios like HMCL. For the same we do regular meetings and ensure that all claims are settled both adequately and timely. 4. Renewal Contracts: - As our most of the policies are yearly based the contract is renewed year after year and based on the past claims experience negotiation of the premium is done, with agreement on the new parameters for servicing, which helps our end user customer maximum satisfaction. Other Important Tasks:- Quarterly audit , Balance sheet related

Key Responsibilities

  • Risk identification and adequate measures for risk transfer through insurance is taken care of , as all contracts are annual, the performance of the contract the preceding year , plays a major role in determining costs and policy terms. The environment around business also throws various challenges like Agitation of Jats (recently happened in Haryana) ,AVP and above were provided with a cover against not able to work for a longer period in case of a claim, Bangladesh visit to find a local partner for PA policy, Expats our employees working abroad-seamless cover against mediclaim cover at was provided ,mediclaim policy ,Term insurance and Storage cum Erection for Assets, Plant visits for KUKAS to finalise Operational Cover, Bhopal Dealer visit, Raipur Dealer visits were conducted to know how the ground reality of the contract.
  •   Risk Identification and Risk Transfer:- As per HMCL guidelines, whatever insurable risk exists in our process, namely occurrence of any Hazard , both due to Act of God like Storm ,Floods, Earthquake etc and Operational Hazards resulting into Fire etc ,is being taken care of by taking a suitable cover .
  •   Risk Inspections of the Sites: - in reference to monitor Insurable Operational Hazards the same activity is carried on yearly basis, and sharing the recommendation with Plant for implementation wherever required, the said is done by Insurance Company’s Risk Engineers.
  •   Valuation on RBI Index: - Coordinating for Asset valuation, on yearly basis for the purpose of insuring the risk, at the reinstatement value.
  •   Monitoring New Products and Add on Covers: - Getting the same customised which is best suitable to our requirements at best possible premium.
  •   Executing activities like providing accurate information, preparing necessary details and reconciling of general ledger to ensure accuracy of account records at all times.

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