Insurance Supervisor📣 إعلان

About the Insurance Supervisor Role

Al Majed Oud is seeking an experienced Insurance Supervisor to manage its comprehensive insurance portfolio. This full-time position, based in Riyadh, requires overseeing insurance coverage for employees, assets, operations, and supply chain activities. The role involves administering policies, negotiating with insurers and brokers, managing claims, and ensuring adherence to corporate policies and regulatory requirements, particularly within a multi-branch retail context.

Key Responsibilities

• Oversee all company insurance programs, ensuring timely policy renewals.
• Administer the Corporate Medical Insurance Program, including employee support and coordination with providers.
• Manage Motor Insurance for the company fleet, covering policy issuance, renewals, and claims.
• Oversee Property Insurance for all company assets, including stores, warehouses, and offices.
• Manage Marine Cargo and Transit Insurance for domestic and international shipments, including claims handling.
• Assess insurance needs and recommend appropriate coverage based on business risks.
• Lead insurance tendering processes, evaluating proposals and selecting suitable providers.
• Negotiate insurance contracts, terms, premiums, and service level agreements to optimize coverage and cost.
• Review insurance contracts for compliance with company policies and legal requirements.
• Manage all insurance claims from notification to settlement, ensuring timely resolution and maximum recovery.
• Develop and maintain relationships with insurance companies, brokers, and loss adjusters.
• Monitor insurance market trends and propose improvements to risk financing strategies.
• Prepare periodic reports for senior management on insurance costs, claims, policy performance, and risk exposure.
• Ensure compliance with insurance regulations, internal governance, and audit requirements.
• Support business continuity and enterprise risk management through effective insurance planning.

Qualifications and Experience

• Bachelor's degree in Insurance, Finance, Business Administration, Risk Management, or a related field.
• Minimum of 5–10 years of progressive experience in corporate insurance management.
• Proven experience within the Retail Industry, ideally with multi-branch operations.
• Hands-on experience managing Medical, Motor, Property, and Marine Cargo/Transit insurance.
• Strong experience in insurance claims management and contract administration.
• Demonstrated success in negotiating insurance contracts and leading tenders.
• Professional certifications in Insurance or Risk Management are preferred.

Required Skills

• Excellent negotiation and contract management abilities.
• Strong knowledge of commercial insurance products and market practices.
• Ability to interpret insurance policies and contractual terms.
• Proficient claims management and dispute resolution skills.
• Strong analytical, financial, and reporting capabilities.
• Advanced proficiency in Microsoft Excel and the Microsoft Office Suite.
• Effective communication, presentation, and stakeholder management skills.
• Capacity to manage multiple priorities in a fast-paced retail environment.
• Leadership, planning, and problem-solving capabilities.

Performance Expectations

Success in this role will be measured by key performance indicators including:

• Achieved annual insurance cost savings.
• Successful and timely renewal of insurance policies.
• Claims settlement turnaround time and recovery ratio.
• Reduction in uninsured or underinsured risks.
• Employee satisfaction with the Medical Insurance Program.
• Outcomes of contract negotiations and premium optimization.
• Adherence to insurance policies, regulatory requirements, and audit standards.
• Accuracy and timeliness of insurance reporting.
• Continuous improvement of insurance coverage and risk mitigation strategies.