Ostwal Group of Industries
Website:
ostwal.in
Job details:
Company Description
Corporate Group: Ostwal Group of Industries has, over the past two decades, cemented its place as a leading player in India's fertilizer sector through strategic backward integration and a diverse product portfolio. OGI is currently the largest fertilizer producer in Northern India, with a market capitalization of INR 4600 Crore.
The group's holding company, Ostwal Phoschem (India) Ltd (OPIL), and maintains majority ownership in the following key subsidiaries:
- Krishana Phoschem Ltd (KPL)
- Madhya Bharat Agro Products Ltd (MBAPL)
- Shri Ganpati Fertilizers Ltd (SGFL)
- Seasons International Pvt Ltd (SIPL)
Role Description
To lead and manage the organization’s general insurance portfolio, ensuring comprehensive risk coverage for all assets, operations, and liabilities associated with fertilizer and chemical manufacturing. The role focuses on risk identification, policy optimization, claims management, and regulatory compliance.
Key Responsibilities:
1. Insurance Strategy & Risk Management
- Develop and implement the company’s general insurance strategy aligned with business risks.
- Identify and evaluate risks related to:
- Manufacturing plants
- Hazardous chemicals
- Storage & logistics
- Environmental liabilities
- Agro based Products
- All type of related policies
- Recommend appropriate insurance coverage (Property Damage, Business Interruption, Liability, Marine, etc.).
2. Policy Management
- Manage end-to-end insurance lifecycle:
- Policy placement & renewals
- Coverage analysis
- Sum insured adequacy
- Liaise with insurers, brokers, and surveyors to negotiate optimal premiums and terms.
- Ensure policies comply with statutory and lender requirements.
3. Claims Management
- Lead and manage insurance claims
- Coordinate with internal teams, surveyors, and insurers for timely claim settlement.
- Maintain claim documentation and ensure maximum admissibility.
4. Risk Inspection & Loss Prevention
- Conduct periodic risk inspections across plants and warehouses.
- Drive loss prevention initiatives:
- Fire protection systems
- Safety audits
- Hazardous material handling compliance
- Work closely with EHS (Environment, Health & Safety) teams.
5. Compliance & Governance
- Ensure adherence to:
- Insurance regulatory norms
- Internal audit requirements
- Industry standards
- Maintain accurate insurance records and MIS reports.
6. Stakeholder Management
- Coordinate with:
- Internal departments (Operations, Finance, Legal, EHS)
- Insurance companies & brokers
- Surveyors & loss assessors
- Support senior management in risk-related decision-making.
7. Budgeting & Cost Optimization
- Manage insurance budgets and track premium outflows.
- Drive cost optimization through:
- Risk improvement measures
- Competitive bidding
- Policy restructuring
Key Insurance Covers Managed:
- Industrial All Risk (IAR) / Fire & Special Perils
- Machinery Breakdown / Boiler Explosion
- Business Interruption (Loss of Profit)
- Marine Cargo (Import/Export/Transit)
- Public Liability & Product Liability
- Environmental Liability
- Workmen Compensation
- Motor Vehicle Insurance
Qualifications:
- Bachelor’s degree in Engineering / Science / Commerce or MBA / PGDM in Finance or Risk Management (preferred)
- Professional certifications (preferred):
- Insurance Institute of India (III)
- Risk Management certifications
Experience:
- 15–20 years in general insurance, preferably in Fertilizer & Chemical Industry
- Strong experience in large industrial risk underwriting and claims handling
Key Skills:
- Strong knowledge of industrial insurance products
- Risk assessment & hazard analysis
- Claims negotiation & settlement expertise
- Regulatory and compliance knowledge
- Stakeholder & vendor management
- Analytical and decision-making skills
Key Competencies:
- Strategic thinking
- Leadership & team management
- Crisis management
- Attention to detail
- Negotiation skills
KPIs / Success Metrics:
- Timely policy renewals with optimal coverage
- Claim settlement ratio & turnaround time
- Reduction in uninsured risks
- Premium cost optimization
- Audit & compliance adherence
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