Job Description – Principal Officer (General Insurance)

Role Summary

The Principal Officer is responsible for overseeing the overall operations, compliance, and governance of the general insurance business. This role ensures adherence to regulatory requirements (such as IRDAI guidelines), manages risk, drives business growth, and maintains operational excellence across underwriting, claims, and distribution functions.

Key Responsibilities

1. Regulatory & Compliance Management

• Act as the designated Principal Officer in compliance with IRDAI regulations.
• Ensure adherence to all applicable insurance laws, regulatory guidelines, and corporate governance standards.
• Liaise with regulatory bodies (IRDAI, auditors, and statutory authorities).
• Monitor compliance frameworks and ensure timely regulatory filings and reporting.

2. Business Operations & Strategy

• Oversee day-to-day operations of the general insurance business.
• Develop and implement strategic plans to achieve business growth targets.
• Monitor key performance indicators (KPIs) related to underwriting, claims, and profitability.
• Ensure operational efficiency across all insurance services.

3. Risk Management

• Identify, assess, and mitigate operational, financial, and insurance risks.
• Ensure implementation of robust internal controls and risk management frameworks.
• Monitor underwriting risks and portfolio performance.

4. Underwriting & Claims Oversight

• Establish underwriting policies and risk assessment guidelines.
• Ensure sound underwriting practices and profitability.
• Oversee claims management processes to ensure fairness, efficiency, and compliance.

5. Stakeholder & Relationship Management

• Engage with insurers, reinsurers, brokers, and corporate clients.
• Maintain strong relationships with internal and external stakeholders.
• Represent the organization in regulatory and industry forums.

6. Team Leadership & Governance

• Provide leadership and direction to cross-functional teams.
• Ensure proper delegation, supervision, and accountability.
• Promote ethical practices, compliance culture, and professional standards.

Key Qualifications

• Bachelor’s degree in Finance, Insurance, Business Administration, or related field.
• Professional certifications (preferred): ACII, III, MBA (Insurance/Finance), or equivalent.
• Must meet IRDAI eligibility criteria for Principal Officer (as applicable).

Experience

• Typically 10–15+ years of experience in general insurance.
• Strong exposure to underwriting, claims, compliance, and operations.
• Experience in leadership or senior managerial roles.

Key Skills & Competencies

• In-depth knowledge of IRDAI regulations and insurance laws.
• Strong leadership and decision-making abilities.
• Risk management and analytical expertise.
• Excellent communication and stakeholder management skills.
• Strategic thinking and business acumen.

Pay: ₹300,000.00 - ₹700,000.00 per month

Benefits

• Cell phone reimbursement
• Health insurance
• Leave encashment
• Provident Fund

Work Location: In person