Insurance Specialist

Job Title: Insurance Specialist

Vacancy: 1 Vacancy

Job Description

The Insurance Specialist will be responsible for managing and overseeing all insurance-related activities for construction and real estate operations. The primary role will be to ensure that all insurance policies are in place, claims are handled efficiently, and risks are minimized. The Insurance Specialist will work closely with various departments, including legal, finance, and project management, to ensure comprehensive insurance coverage and compliance with local regulations.

Key Responsibilities

1. Insurance Policy Management:
   • Identify and assess insurance needs for various construction and real estate projects.
   • Procure appropriate insurance policies, including but not limited to general liability, property, workers compensation, fidelity insurance, professional liability insurance, car insurance, third party, etc.
   • Review and negotiate insurance terms and conditions to ensure optimal coverage.
2. Risk Assessment and Mitigation:
   • Conduct risk assessments for new and ongoing projects.
   • Recommend and implement risk mitigation strategies.
   • Ensure compliance with local insurance regulations and company policies.
3. Claims Management:
   • Manage the claims process from initial notification to final settlement.
   • Liaise with insurance companies, brokers, and adjusters to ensure timely and fair resolution of claims.
   • Maintain detailed records of all claims and related documentation.
4. Coordination and Communication:
   • Work closely with commercial & contracts department, project managers, legal, and finance teams to ensure insurance requirements are met.
   • Provide training and guidance to staff on insurance-related matters.
   • Serve as the primary point of contact for all insurance inquiries and issues.
5. Reporting and Documentation:
   • Prepare regular reports on insurance activities, claims status, and risk management initiatives.
   • Maintain comprehensive and up-to-date records of all insurance policies and claims.
   • Assist in the preparation of budgets related to insurance costs.

Desired Candidate Profile

• Professional certification in insurance (e.g., CPCU, ARM) is highly desirable.
• In-depth knowledge of insurance products, policies, and regulations in the UAE.
• Strong analytical and problem-solving skills.
• Excellent communication and negotiation skills.
• High level of accuracy in assessing insurance needs and managing claims.
• Ability to analyze complex insurance documents and data.
• Strong negotiation skills to secure favorable insurance terms.
• Proactive in identifying issues and finding effective solutions.