Assistant Manager Insurance📣 إعلان

About the Role

Binzagr Company is seeking an Assistant Manager Insurance to oversee the comprehensive management of the company’s trade credit insurance and fidelity guarantee insurance programs, alongside other financial insurance lines. This full-time position, based in Jeddah or Makkah, requires a detail-oriented and analytical professional capable of thriving in a fast-paced, deadline-driven environment. The role is critical in ensuring timely policy administration, accurate risk assessment, and effective coordination with insurers and internal stakeholders.

Key Responsibilities

• Manage trade credit insurance and fidelity guarantee policies, including renewals, endorsements, and bookkeeping.
• Oversee a portfolio of Binzagr’s RVS and clients' credit coverages across all businesses, collaborating with Cluster heads, Business Development, and Credit Control to maintain overall credit quality.
• Review credit limits, monitor exposures, and ensure compliance with policy terms and deadlines.
• Support the evaluation of customer creditworthiness and risk profiles.
• Track overdue accounts, coordinate dunning letters, report to insurers, and follow up on recovery plans, engaging internal teams in risk mitigation and litigation.
• Engage with the Credit Control team for granting temporary credit extensions to customers.
• Collaborate with the CFT to ensure timely reconciliation of MT and Principles claims accounts, adhering to management-set frequencies to prevent insurance breaches.
• Work with Internal Audit, HR, and Legal teams to investigate and report losses from RVS operations and file FG claims.
• Engage with the legal team and external collection agencies for bad debt recovery and pre-litigation procedures.
• Review and analyze accounts receivable aging, following up on overdue and aged balances with sales and branch accounts teams for timely resolution.
• Ensure timely review of the existing portfolio of active clients, providing recommendations for rating and mitigation based on financial status and insights.

Coordination and Claims Management

• Serve as the primary point of contact between the company and insurance providers.
• Prepare and submit all required documentation, including KYC, claims, credit limit applications, customer trading experience, and turnover declarations.
• Communicate policy updates, limit approvals and withdrawals, and other requirements to sales, finance, legal, and management teams.
• Assist in preparing claim files, gathering supporting documents, and following up with insurers.
• Monitor claim timelines and ensure strict adherence to policy conditions.
• Follow up on claims settlements and ensure appropriate bookkeeping.

Reporting and Process Improvement

• Maintain accurate records of credit limits, exposures, policy utilization, and loss ratio.
• Support data analysis to identify trends, risks, and opportunities for improvement.
• Prepare periodic credit risk management reports, highlighting areas of concern or concentration, claims status, and policy performance.
• Recommend and implement enhancements to internal SOPs, processes, modeling, and mitigation strategies to improve controls efficiency in credit risk management.
• Ensure continuous compliance with internal controls and regulatory requirements.
• Educate and expand credit risk awareness and associated mitigation strategies among main stakeholders.

Qualifications and Experience

• A minimum of 5 to 10 years of relevant experience in insurance management, credit risk, or a related financial field.
• Demonstrated ability to manage complex insurance programs end-to-end.
• Strong analytical skills with a keen attention to detail.
• Ability to work effectively in a fast-paced, deadline-driven environment.

Work Location

This full-time position is based in Jeddah or Makkah, Saudi Arabia.