DGM - RISK MANAGEMENT INSURANCE

1. Insurance Program Management Developing implementing & managing the overall corporate

insurance program to protect the organization from various & possible all existing and future risks & all

kind of liabilities.

2. Risk Assessment & Risk Mitigation :: Assessing the organization s risk profile & identifying potential

risks & exposures that need to be covered by insurance adequately. Identifying opportunities for risk

reduction and implementing risk control measures to minimize potential losses. Working with internal

departments to for better risk management.

3. Insurance Coverage Analysis :: Analyzing existing insurance policies to ensure they adequately cover

the organization s risks & liabilities. Recommending an additional coverage policies as needed.

4. Policy Procurement :: Collaborating with various insurance machineries ( Insurers Re Insurers various

authorized Intermediatory to obtain appropriate insurance policies / coverages at competitive rates

better terms & conditions as & when needed.

5. Claims Management ::

A. Assets & Liabilities Related Claims :: Overseeing the claims process & working closely with insurers /

surveyors & its representatives / salvage processing / internal department of GSP for documents

submission as per the requirements of surveyor / insurers for timely settlement of claims.

B. Employee & Workers Related Claims :: Timely Claim settlement Reimbursement & Speedy process of

Cashless. will include Legal HR as & when required.

C. Fraud Prevention :: To mitigate / find any kind of fraudulent activity in the insurance related matter.

D. Claims with Legal Entities :: Prepare documents / keep track record / conversations with Lawyers court.

6. Insurance Audit & Compliance :: Ensuring the organization complies with insurance policy requirements & conditions. Providing guidance to internal stakeholders / department on policy compliance matters. To ensure to go thru with various audits (e.g. Safety Accounts Future vendors vendors etc.

7. Insurance Budgeting & Reporting: Preparing & represent the Insurance Budget with proper clarity and transparency to all concerns and management. Preparing reports & presentations (as & when required) on Insurance program performance claims history & risk exposure for management and stake holders.

8. Stay with Current Insurance Trends :: Keeping up to date with industry trends changes in insurance regulations & emerging risks to ensure the insurance program remains effective and aligned with the organization needs.

9. PMS / Safety SOP Corporate Office:: Implementation of PMS Safety Training Co Ordination with SHE department.

10. CO Ordination :: With all internal Department of GSP for information required for Insurance Claims Risk Management related activities.

Stake Holder s (GSP) Responsibilities: Production / SHE / Environments / Procurement / SCM :: Provide timely information regarding any changes in production process introducing new products process which affects more on risk categorizing. Any significant / major changes in Storage / handling / transporting / usage of materials various supply chain process addition of location (C&F Godowns Job Workers) Etc. Accounts & Finance :: Provide proper data timely ( Monthly QLY HLY YLY ) for an adequate insurance. (Sales/Stock/Gross Block) Major significant changes in assets business pattern an additional location to be insured. HR & Admin :: Proper Data of Employees & its Family on Monthly basis & as & when required. Lega & Secretarial :: Data of legal proceeding existing on monthly basis & or any significant notice recd against any of employee / directors to check the possibilities of claim in the liabilities policy. Any changes in directorship / share pattern / Appointment of new stake holder/s Projects / Operations :: Full Information along with project report for upcoming / planned project / partnership for insurance policy procurement / budgeting of insurance premium / Periodically information regarding progress of project. Branch Operation / Export Department :: Data & Documents for Credit Insurance program Annual Business Plan for budgeting of insurance program. IT :: SAP Reports Insurance Purpose as & when required