SAVIRAJ SHETTY

Seeking senior level assignments in Insurance & Process Operations in Manufacturing and Service sector with an organization of repute

A result oriented professional with an experience of nearly 25 years in Insurance Operations & Process. Hands on experience in Non-Life Insurance Operations & Process. Managing the new Business of Insurance Broking in Four African Countries and expanding soon in the current year. Significant experience in the analysis of the Non-Life Insurance Products & Trade Credit Policies. Proficient in Analysing the claims statistical data on various parameters. Possesses excellent interpersonal, communication & organisational skills with abilities in team management & customer relationship management Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals. To seek and maintain full-time position that offers professional challenges utilizing interpersonal skills, excellent time management and problem-solving skills. Detail-oriented team player with strong organizational skills. Ability to handle multiple projects simultaneously with a high degree of accuracy.

• 08/19 - present, Export Trading Group (ETG), Dubai, Group Head – Insurance & Risk Management, Evaluation of the Risks – Risk evaluation is done basis the coordination with the respective HOD’s and understanding of the Risks involved during the Operations. Analyze the Insurance requirements from the dept’s concerned and accordingly discuss with the Underwriters on the available coverages in the Insurance Market, Analysis of Policies – Managing of various type of Policies by analysing the risk factors so that the policies are in line with the Risk envisaged and maximum coverage is available under the Policies., Operational Efficiency – Implementing underwriting guidelines, processes, workflow, forms and ensuring implementation and adherence of the respective policies. Monitoring of the processes to ensure the operational efficiency while handing claims and renewal / new Policies to be placed., Coordination’s – Coordinating with the Brokers and Underwriters for quotes and verifying whether they are in line with the requirements to underwrite new and existing business within the set guidelines. Communicating with the Internal teams at each location for claims and to streamline the process. Creating Inter departmental coordination’s for the smooth flow of the Documentations., Renewals – Ensuring the timely renewal of various Policies, extensions and Instalment Payments. Obtaining of the draft policies and recommending changes basis the terms and conditions agreed upon at the time of renewals. Structuring of the policies depending upon the severity of the risk and likelihood., Handling of Claims – To discuss within the team and set up a standard process with regard to handling of the Claims. Generate monthly claims MIS and discuss with the respective Dept Heads with regards to the current status of the claims. Having a regular discussion with the Brokers and Surveyors to understand the current position of the claim and its requirements. Have a general consensus with the respective HOD’s with regards to withdrawing of the certain claims., Working on the new Projects – Undertaken the new initiative of setting up the Insurance Consultancy Firm-EIRS (new subsidiary of ETG) in discussion with the Seniors and Business Partners of the Parent Co. Accordingly discuss and deal with the respective Reinsurers and Brokers. Placement of new business done under the new Consultancy firm. Negotiate with the Insurance Co’s and understand the scope of the operations required to be done in this aspect. Selection of Insurance Coverages to be taken with respect to the period, premium and Value considering the risk involved., EIRS (ETG Insurance and Risk Management Broking Services) – Currently also handling the new business venture of ETG known as EIRS in four African Countries namely Zambia, Mozambique, Tanzania and Kenya as the Business Head and leading a team of around 25 People and having placed business worth USD 15 Mn of Premium and earned approx. USD 1.00 Mn for this new entity ., Policies undertaken – Under the coordination with the various Vertical Heads of the Co and in discussion with the Insurance Co’s, Brokers and Reinsurers could place different Insurance Policies like – Marine Stock Throughput Policy, IAR, MBD, Asset All Risk, Marine Open Cover, GIT, Credit Insurance, Crop Insurance, Political Risk Cover, K&R cover, Commercial Crime Policy, Professional Indemnity, Motor Policies and Group Health and Travel Policies.
• 11/14 - 07/19, Sterling Oil Exploration & Energy Production Co Ltd., Nigeria (Lagos), Head – Risk Management, Coordinate and discuss with the various Department & Sister Concerns HOD’s to understand the risk involved during Operations and methods of Risk Mitigations., Evaluated the various risks involved in the operations being conducted based on the discussions with the HOD’s., Structured the Risks depending on the Severity and Likelihood., Provided inputs on the various type of Coverages available in the Market based on the operations of the Company., Handled various type of Policies – Oil & Gas Package Policy, Rig All Risk, Machinery Breakdown, Marine Cum Erection, Marine Hull and Machinery, Protection & Indemnity, War Risk, K&R (Special Risk policy), Employee Benefit Cover, Group Mediclaim & Personal Accident, Business Interruption, Liability, etc., Coordinated with the London Brokers and the Lloyds Underwriters for the Reinsurance Support., Handled Insurance Brokers & Insurance Companies in Nigeria for placement of various policies within Nigeria., Coordinated with the Nigerian Insurance Body (NAICOM & NAPIMS) in regards to dispute with the Nigerian Insurance Companies., Highlights: Successful placed the Oil & Gas Package Policy with reduction in the Premium for the current year in coordination with the Lloyds Underwriters & Brokers. Was able to realize pending Claims amounting to USD 10 Million within a span of six months. Currently working on Well Blow out claim of USD 20 Million.
• 02/12 - 10/14, EMCO Ltd., Mumbai, Sr. Manager (Corporate Insurance), Analysing the Project Insurance requirements from dept concern, Coordinating for quotes from Insurance Companies and verifying whether they are in line with requirements, Obtaining draft policy and recommending changes, Assuring timely renewals, extensions and instalment payments, Providing tender quotes while bidding for projects, Creating inter - departmental coordination with Insurers, Brokers and Surveyors, Suggesting MIS Policies and monthly statements of extensions, renewals and instalments, Submitting and settling of Insurance claims under different policies, Monitoring CD Balances with Insurers, Managing various types of Policies – EAR, SCE, WC, CPM, Fire & Burglary, Liability, Group Personal Accident, Machinery Breakdown, FLOP, Marine transit & Group Medi-Claim, Creating Insurance Portal for the Company in coordination with the IT Team, Highlights: Successfully Restructured the Claims Process and was able to realize claim amount worth Rs.6 crores within a span of 10 months. Efficiently functioned on Insurance Premiums and handling of surveyors , coordinating with site people and HOD of the Organization
• 08/07 - 02/12, J.M.Baxi & Co., Mumbai, Sr. Manager Risk Management, Coordinated with the HOD’s of the various branches to arrange for the required insurance coverage’s as per the risks involved and the systems being followed, Interfaced with the IT personnel’s in setting up the Insurance Software and its enhancement, Calculated the existing Insurance policies and arranged to make the necessary improvements within the existing policies with the required modifications and coverage, Functioned on the various Insurance proposals and finalized the policies with the maximum coverage, Looked after various claims pertaining to Motor, Personal Accident, Liability, Burglary, Marine, Fire and interfaced with the Insurance Officials, Surveyors & Adjustors, Communicated with the Insurance Officials to get the best quote with the required coverage
• 07/03 - 07/07, India Insure Risk Management Services Pvt Ltd, Mumbai, Manager – Operations, Inspect various risks of the Clients to adequacy of coverage and to suggest modifications if required., Preparing the Portfolio review report., Evaluate existing policies of the clients and ascertain if reduction and saving in premium is feasible, Interacting with the Insurance officials in getting the best quotes for the clients., Preparing the quote comparison report and present it to the clients., Arrange suitable covers / renew existing covers incorporating necessary modifications on due dates on a cost – effective basis., Implementing the Fast track process for claims settlement., Interacting with the Divisional Managers of Insurance Companies in regards to float funds and claims settlement., Responsible for implementing the software at the branch office level.
• 04/96 - 07/03, Eureka Forbes Ltd, Mumbai, Officer – Corporate Finance, Monitoring of the various policies and related claims of the Company, Interacting with the Insurance Officials in regards to the settlement of claims for the full amount claimed, preparation of Policy Documents, evaluation of premiums paid across various policies and selection of Insurance coverage to be taken with respect to the period and value considering the risk involved., Reconciling and Preparing the monthly Cash Deposit Statement (C.D.A.) with the statement provided by the Insurance Company., Preparing the Monthly MIS reports, Monitoring of Bank Balance lying in the Company’s Bank Accounts (Across the Country) so as to see that no idle funds are lying in those accounts.

• Passport Number: Z4206898
• Date of Birth: 11/21/72

• Successfully completed the Internal Auditor’s Training on Quality Management Systems as per ISO 9001:2000 Requirements conducted by Det Norske VERITAS
• Insurance Broking training programme conducted by IRDA