Policy Placement Officer

Policy Placement Officer – Insurance Broking

To ensure accurate and timely placement of insurance policies with insurers, negotiate terms, coordinate documentation, and support the servicing team in policy issuance and renewals.

• Key Responsibilities
• Coordinate with insurance companies for policy quotations and placement.
• Compare quotations from multiple insurers.
• Finalize the best terms, coverage, and premium as per client requirement.
• Ensure proper placement slip preparation and submission.
• Follow up with insurers for policy issuance within TAT.
• Verify policy documents for coverage, sum insured, premium, clauses, endorsements.
• Ensure error-free policy documentation before sending to client.
• Maintain strong relationships with underwriters of insurance companies.
• Negotiate for better premium and wider coverage.
• Handle clarifications from insurers regarding risk details.
• Maintain records of: Quotations, Placement slips, Proposal forms, Policy copies, Ensure compliance with IRDAI guidelines.
• Track policy renewal dates.
• Collect renewal quotes from insurers.
• Ensure timely renewal placement.
• Work closely with: Sales team, Client servicing team, Claims team, Ensure smooth flow of information between insurer and client.
• Maintain placement MIS reports.
• Ensure documentation for audits and regulatory requirements.
• Key Skills Required
• Knowledge of General Insurance products, Strong negotiation skills, Good communication with insurers, Attention to policy wording and coverage details, MS Excel & documentation management

Qualification

• Graduate (preferably Insurance / Commerce / Management), Certification like III / IRDAI training is an advantage.