SWAPNA NAIK ACII, FIII
Tel: 00971509336017, 00971528009348
Email: swanaik29@gmail.com

OBJECTIVE

My objective is to work in the Insurance domain where I can leverage my subject knowledge in Life Insurance and blend it with the experience in the industry. I also aim for continuous growth to my career as well as for my organization by remaining result and customer oriented and reconciling my skills and values with the requirements of the organization.

DATE OF BIRTH

29th July 1974

PROFESSIONAL QUALIFICATIONS

ACII, Chartered Insurer – Associate of Chartered Insurance Institute 2013

FIII – Fellow of Insurance Institute of India 2002

PGDAS -Post Graduate Diploma in Actuarial Science 2007
S.N.D.T. University, Mumbai

Pursuing Associate of Institute of Actuaries – India, have cleared CT7 – Economics, CT1 - Financial Mathematics, CT2-Financial Reporting, CT9-Business Awareness Module subjects

EDUCATIONAL QUALIFICATIONS

Bachelor of Science- Chemistry. 1995
(University of Mumbai)

WORK EXPERIENCE

Abu Dhabi National Insurance Company 2011 – till date

Manager (2017 – till date)
● Proactively Steer and drive acquisition of new business and retention of existing business (including client and broker negotiations where necessary) to achieve financial & profitability targets (Growth in business, loss ratios)

● Ensure that all new business and renewal quotations pricing carried out and terms prepared by team members are reviewed and provide final recommendation to Department Head considering the competition and best market practices, to secure clients
● Perform pricing and assessing risks and recommending terms of large/complex insurance quotes
● Discuss and negotiate terms with Reinsurers (Treaty/Facultative) to provide tailored solutions for large and complex accounts
● Closely works with head of broker management and support the business developers in their daily broker/client service work and delivery of highest level of Broker/client service. Coordinate with business development managers to assist on technical matters with existing and prospective clients.
● Proactively drive involvement of functional areas in Underwriting and Pricing Process, including Actuarial , Claims, Operations and Reinsurance departments to agree on underwriting and claims strategy on a market as well as client/quote level.
● Ensure ADNIC’s underwriting policies and strategic accounts management standards are met in all underwriting activities carried out by the team.
● Responsible for life claims (recommendation upon reference by the claims & operations team)
●Develop, implement and improve sound risk management processes and standards, promote new concepts and international best practices
● Contribute to projects and research related risk assessments and underwriting seminars /workshops. Participate in organizing and conducting underwriting trainings
●Provide periodic business related updates (New Business, Renewals, etc.) to management
• Review periodically Underwriting policies and procedures, identify operational gaps and propose recommendations and solutions to address these gaps in order to keep pace with the growth of the organization
● Coordinate with Chief Medical Officer for individuals with complex medical conditions.

Assistant Manager (2014 – 2017)

● Responsible for day to day handling of underwriting cases
● Prepare high quality risk assessment decisions within personal underwriting authority by using detailed knowledge of all risk factors impacting the acceptability.
● Provide support in client company reviews of underwriting and claims functions, processes and decisions including collating of results
● Support analyses of risks outside personal risk authority. Set out risk assessment recommendations for consideration by appropriately authorized underwriting colleagues.
• Ensure compliance with procedural and legislative requirements and follow all relevant policies, processes, standard operating procedures so that work is carried out in a controlled and consistent manner and maintain /check files for the clients
• Maintain effective relation with Business Development Managers, Brokers/clients (and prospective clients)
• Prepare/Check Quotations/tenders and all data required for tenders. Prepare and check Assessment sheets, Assess the risks, underwrite and release quotes in line with corporate guidelines and underwriting authority limit
• Prepare/Check faxes/other communications to clients/brokers and reinsurers. Follow up with the client, receive firm order & bind cover with RI and confirm cover to the client/broker
• Send Cover Confirmation to Operations Department for system booking
• Allocate reinsurance sharing and complete all documentation, information gathering and forms
• Provide supporting material for training and other initiative when required (within the department and to other stakeholders)
• Provide up MIS/Reports (claims, production, renewals…) to Management and conduct thorough analysis as and when required
• Liaise with Operations/Finance on system bookings and premium collection
• Suggest/administer strategies to increase premium income through cross-selling
• Ensure relationship between internal departments/divisions as well as branches continue to work well and high level of communication and efficient & timely transfer of information takes place during operations
• Provide Management with appropriate reports regarding the unit and compliance with operational policy and procedures
• Testing new operating systems for compatibility as per Company’s underwriting & operational guidelines and new products being implemented by the company
• Prepare policy documents/invoices/closing notes, and prepare/check reinsurance
slips

Supervisor (2011 – 2014)

• Pricing and Underwriting of Group life and Group Credit Life insurance proposals after considering factors such as group profile, size, claims, age wise distribution , employee classification, reinsurance treaty limits etc.
• Coordinating with the bank personnel for requirements pertaining and procedures to match with that of the competent market
• Reviewing existing policy wordings, underwriting guidelines and procedures to match with that of the competent market
• Preparing Tender documents for Group Life/Group Credit Life proposals
• Approaching the Reinsurers for cases above Free Cover Limit, Offshore risks, jumbo groups, especially for special terms and conditions beyond agreed treaty terms
• Following up with the medical providers for medical reports pertaining to above FCL cases
• Coordinating with the operations team for premium bookings of new policies, renewals, endorsements, certificates for above FCL cases under Bancassurance schemes, bills of Medical providers
• Preparing Group Life & Group Credit life policies/Cover notes for Inward facultative business
• Working with business development staff to clarify Underwriting rules and resolve problems related to the sale, renewal and issuance of business
• Compare enquiries received in the previous year with that of the current year for effective follow up for enquiries not received this year. Also identify clients from other lines of business and identify prospective clients
• Supporting cross selling of life products in conjunction with Medical,Motor & Liabilities team

Professional Practice Insurance Brokers (2007 – 2010)
Dubai

Role:

Underwriter
•Negotiating with Insurance Companies for best rates and terms and comparing the quotations to suggest the client the most appropriate option.
•Following up with clients for renewal of policies. Facilitating the processing of claims . •Preparing list of renewals, claims etc. Underwriting & Administration of Property All Risks, Contractor’s All Risks, Erection All Risks, Credit Insurance, Fidelity Guarantee, Money, Contractor’s Plant and Machinery, Machinery Breakdown, Workmen’s Compensation, Public Liability, Medical Malpractice, Professional Indemnity, Business Interruption, Money and Marine Hull and Open Cover Policies.
•Suggesting clients risk improvement measures and advising clients appropriately helping them to cover loopholes in the existing cover.
•Direct follow up with the clients and Marketing colleagues for pending proposals, renewals, endorsements, documents, resolving financial outstanding issues with the client is also a part of my daily job profile.

Life Insurance Corporation of India (1993 – 2007)

Assistant Administrative Officer: (2003 – 2007)

Roles:

Underwriter: Underwriting Proposals for various Life Insurance Products such as
Whole Life, Term Assurances, Endowment, Money Back, Unit Linked, etc considering factors such as age, sex, medical history, Occupation/Professions , Income, Living standards, Education, etc. Administration of Policy Issuance and Rectifications in the Policies

Claims Manager: Processing Survival Benefit, Maturity and Death claims. Scrutiny
of documents such as the Claim forms, Policy Documents for cover and title , Claimant’s forms, Death Certificates, Burial forms, Employer’s statements, Post Mortem Report, Policy Enquiry report. Calculation of Bonus, Final Additional Bonus and benefits under the policy. Reconciliation of Claims and preparation of monthly and yearly Reports for Outstanding and Paid Claims

Higher Grade Assistant: (2000 – 2003)

Sales department : which included scrutiny of new proposals before registration, administration of agencies, assessment of agents and Development officers’ performance.

Policy Holders servicing Department: Settlement of loan and surrender
Payments, completion of nomination and assignment formalities, revival
of lapsed policies, alterations

Assistant: (1993 – 2000)

Claims Handler in Claims department and was responsible making payment vouchers and Claims reconciliation.

New Business Department: Calculating premiums and completion of proposals, Policy Administration

Cash Department, responsible for receipt of premiums and payments From imp rest cash.

Behavioral competencies:
Client & target focused
Strategic and analytical
Ability to work effectively within a team environment
Ability to motivate others
Ability to prioritize workload and manage time effectively.
Strong communication (verbal & written)

Availability: 1 month notice period

Current Visa Status: Employed, Company’s sponsorship