Website:
novabenefits.com
Job details:
Location: Bengaluru
Compensation: Up to 10 L
The Role
We're looking for an Insurance Placement Specialist to join Nova's placements team and own the insurance placement process end to end, with a primary focus on Non-Employee Benefits (Non-EB) lines such as Property, Liability, and Casualty.
You'll work closely with insurers, TPAs, and Nova's internal teams to take requirements from RFQ stage through quotation, negotiation, comparison, and final policy placement. This is a hands-on role for someone who understands how insurance placements work and can independently drive a desk with speed, accuracy, and strong commercial judgment.
The placements function is being built from the ground up, so you'll have the opportunity to shape processes, improve how we work with insurers, and build a more efficient, technology-led placement experience. Success in this role is measured by turnaround time, quality of placements, commercial outcomes, accuracy of QCRs, and your ability to independently drive placements to closure.
What You'll Own
- RFQs: Prepare and circulate RFQs to insurers within agreed turnaround times, ensuring requirements are complete, accurate, and clearly communicated.
- Insurer Coordination: Work closely with insurers and TPAs to resolve queries, provide additional information, follow up on requirements, and drive quotations to closure.
- Quote Evaluation: Evaluate and analyse quotations across coverage, premium, exclusions, deductibles, terms, conditions, and other commercial considerations.
- Quote Comparison Reports:Build clear and accurate Quote Comparison Reports (QCRs) for internal and client review, highlighting key differences and recommendations.
- Negotiation: Engage with insurers to negotiate pricing, coverage, deductibles, exclusions, terms, and policy wordings to achieve the best possible outcome.
- Placement: Own the placement process end to end, from RFQ issuance and quotation through negotiations, finalisation, and policy issuance.
- Stakeholder Management:Work closely with internal teams, clients, insurers, and TPAs to ensure requirements and timelines are aligned and nothing falls through the cracks.
- Process Improvement: Help build and improve placement processes, templates, workflows, and operating mechanisms as the function scales.
- Ownership: Run your assigned desk independently, maintain strong follow-through, and proactively flag risks, delays, and dependencies.
What We're Looking For
- 2-5 years of experience at an insurance broker or general insurer, preferably in placements, underwriting, or insurance operations.
- Hands-on experience raising RFQs and preparing QCRs for Non-EB lines such as Property, Liability, and Casualty.
- Good understanding of insurance products, coverage structures, exclusions, deductibles, terms, and policy wordings.
- Strong ability to evaluate and compare quotations and identify meaningful differences beyond just premium.
- Comfortable negotiating with insurers and pushing back when required to get better pricing or terms.
- Strong written and spoken communication skills.
- High ownership, attention to detail, and integrity.
- Ability to manage multiple placements and timelines simultaneously without compromising on accuracy.
- Comfortable working independently with minimal supervision.
- Quick to learn new tools, processes, and ways of working.
Good to Have
- Exposure to Employee Benefits policies such as GMC, GPA, and GTL.
- Experience working with multiple insurers and TPAs.
- Familiarity with insurance broking platforms, CRM/operations tools, or workflow automation.
- Experience working in a fast-paced startup or high-growth environment.
- Interest in using technology and AI to make insurance placement processes faster and more efficient.
Why This Role
- Be part of a small, hand-picked placements team and help build the function from the ground up.
- Take significant ownership and grow with a function that is still being built.
- Directly influence client outcomes, insurer relationships, and Nova's growth.
- Work in a flat, merit-led culture where results matter more than background or tenure.
- Use technology and AI to rethink traditional insurance workflows.
- Work closely with leadership and cross-functional teams in a high-growth environment.
How We'll Measure Success (First 6-12 Months)
- RFQs and placements completed within agreed turnaround times.
- Accuracy and quality of QCRs and quotation analysis.
- Improvement in pricing, coverage, and terms achieved through insurer negotiations.
- Placement conversion and closure rates.
- Reduction in delays, follow-ups, and manual effort across the placement process.
- Quality and responsiveness of insurer and TPA coordination.
- Ability to independently manage an assigned placement desk.
- Contribution to building scalable processes, templates, and workflows for the placements function.
Click on Apply to know more.
