Prachi Umesh Paradkar
Insurance Risk Management Specialist
Bhandup East
Summary
"Dynamic and results-driven professional with nearly 15 years of experience specializing in risk assessment, proposal success, client satisfaction, and policy negotiation. Proven track record in securing winning proposals and delivering exceptional underwriting and placement ,services. Eager to continue contributing to organizational success while expanding my knowledge and expertise in a growing industry."
Overview
17
17
years of professional experience
5
5
years of post-secondary education
3
3
Languages
Work History
Deputy Vice President- Placement
Prudent Insurance Broker
Mumbai
02.2016 - Current
- Review and Improvement of Quote Slips: Thoroughly reviewed quote slips and improved betterment clauses to ensure they align with the client’s specific needs and requirements, enhancing risk coverage and minimizing gaps
- Collaborative Stakeholder Engagement: Worked closely with the Sales and Client Servicing teams to gain an in-depth understanding of client portfolios, ensuring that all relevant clauses were accurately incorporated into the quote slips
- Market Analysis and Broker Coordination: Analyzed market data and competitor broker input, aligning insurer selection with client requirements before floating slips to ensure competitive and tailored proposals
- Risk Inspection: Conducted comprehensive risk inspections to better understand the risk profile and occupancy details, ensuring risk assessments were accurate and up-to-date for policy issuance
- Policy Review and Accuracy: Diligently reviewed expiring policies to verify occupancy details, ensuring all information was accurate to prevent potential discrepancies or issues during claims
- Pre-Submission Risk Review: Carefully examined the Risk Inspection reports and coordinated with the Sales and Client Servicing teams to ensure all updates to the plant or risk mitigation measures were reflected prior to submitting to insurers
- Market Intelligence and Negotiation: Evaluated market conditions post-quote receipt to identify any necessary adjustments or deviations that could improve proposal competitiveness
- Quote Comparison and Client Communication: Prepared detailed Quote Comparison Reports to help clients clearly understand the value of the proposal and the best terms and clauses offered
- Reward Negotiation and Strategy: Actively negotiated with insurers to secure more favorable rewards, boosting profitability of company and the overall attractiveness of proposals
- Policy Placement and Issuance Oversight: Ensured seamless transition from proposal acceptance to policy issuance, ensuring that all terms from the placement slip were properly reflected in the final policies without any gaps
Assistant Manager
Aditya Birla General Insurance Company Limited
Mumbai
08.2011 - 02.2016
- Servicing and Operations for the Commercial Product
- Handling All Lines of Products
- Quotations, Cover Notes, Policies, Endorsements & Renewal Notices
- Coordinating with various insurance Companies for Quotation, Policy
- Preparing Property, Misc
- Product, & other commercial Product RFQ as per the Insured requirement & sending it to various insurance companies for Quotation
- Informing insured about the deficiency in the claim document
Senior Executive
India Insurance Broker
Mumbai
09.2009 - 08.2011
- Handling All Lines of Products
- (Property, Marine, Misc
- Product)
- Quotations, Policies, Endorsements & Renewal Notices
- Coordinating with various insurance Companies for Quotation & Policy
- Preparing Property, Misc
- Product, & other commercial Product RFQ as per the Insured requirement & sending it to various insurance companies for Quotation
- Negotiating with Insurance Company for Pricing, Term & Conditions with all Possible Coverage’s
Executive
Bajaj Allianz General Insurance Company Limited
07.2008 - 09.2009
- Claim Registration
- Appointment of Surveyour
- Follow up for First Information report from surveyour
Education
Post Graduation Diploma - Insurance
Mumbai University
01.2006 - 01.2008
T.Y. B. A - undefined
Ruia College
01.2004 - 01.2005
H.S.C. Examination - undefined
Ruia College
01.2001 - 01.2002
S.S.C. Examination - undefined
King Gorge
01.1999 - 01.2000
Skills
- Ability to take initiative
- A quick learner dedicated
- Ability to work within Framed Time
- Punctuality
- Sincere in approach
- MS Office
- MS Word
- MS Excel
- Email and Internet Applications
Personal Information
- Date of Birth: 02/14/84
- Gender: Female
- Nationality: Indian
- Marital Status: Married
Timeline
Deputy Vice President- Placement
Prudent Insurance Broker
02.2016 - Current
Assistant Manager
Aditya Birla General Insurance Company Limited
08.2011 - 02.2016
Senior Executive
India Insurance Broker
09.2009 - 08.2011
Executive
Bajaj Allianz General Insurance Company Limited
07.2008 - 09.2009
Post Graduation Diploma - Insurance
Mumbai University
01.2006 - 01.2008
T.Y. B. A - undefined
Ruia College
01.2004 - 01.2005
H.S.C. Examination - undefined
Ruia College
01.2001 - 01.2002
S.S.C. Examination - undefined
King Gorge
01.1999 - 01.2000
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