Job Description

The job description of a Principal Officer in an insurance marketing firm (IMF) involves overseeing daily operations, ensuring compliance with industry regulations, leading strategic planning, and guiding a team of insurance professionals. They are also responsible for developing and implementing procedures to ensure smooth communication and information flow within the organization.

Key Responsibilities:

Regulatory Compliance:

Ensuring the IMF adheres to IRDAI regulations, including those related to registration, conduct, and insurance marketing practices.

Strategic Planning:

Developing and implementing strategic plans for the IMF's growth and business development.

Operational Oversight:

Managing daily operations, including client acquisition, policy sales, claims handling, and financial management.

Team Leadership:

Guiding and mentoring a team of insurance professionals, ensuring they are properly trained and compliant with regulations.

Client Relations:

Building and maintaining strong relationships with clients, understanding their needs, and providing tailored insurance solutions.

Regulatory Reporting:

Maintaining accurate records and reporting to regulatory authorities, as required.

Risk Management:

Identifying and mitigating risks associated with insurance operations, including financial, operational, and regulatory risks.

Internal Communication:

Ensuring effective communication and information flow within the IMF, including internal stakeholders like tech, business, QA, and marketing teams.

Required Skills and Qualifications:

Education:

A graduate degree, preferably with an MBA or equivalent, and a strong understanding of the insurance industry.

Experience:

Significant experience in the insurance industry, preferably in a similar role, and a proven track record of success.

Knowledge:

In-depth knowledge of insurance products, regulations, and the insurance industry.

Skills:

Excellent communication, interpersonal, and analytical skills, as well as strong leadership and management abilities.

Certifications:

Relevant certifications, such as CAIIB (Chartered Insurance and Investment Associate), or other professional certifications in the insurance industry.

Additional Responsibilities:

Developing and implementing procedures and controls that will promote adequate communication and information flow. Developing a base for long-term sources of clients through referrals, occupational, and special-interest groups. Assessing client needs and financial situations, developing coordinated protection plans, and providing advisory services. Designing and monitoring claims handling procedures for timely claims settlement. Ensuring compliance with relevant standards and regulations.
Job Type: Full-time

Pay: ?35,000.00 - ?45,000.00 per month

Benefits:

Leave encashment Paid sick time
Schedule:

Day shift Monday to Friday
Supplemental Pay:

Yearly bonus
Work Location: In person

Expected Start Date: 01/07/2025