Sameer Akolkar
Insurance Professional
Mumbai
Summary
Dependable professional with extensive experience supporting executive level management including Chief Executive Officer and Chief Risk Officer. Respected for organizational and interpersonal aptitudes, implementation of strategic initiatives, special project management and results-focused interactions across organization. Rewarded as Best Performer of the Year in 2016 & 2024
Overview
24
24
years of professional experience
4
4
years of post-secondary education
3
3
Languages
Work History
Assistant Vice President-Internal Audit
Reliance General Insurance Company Ltd
04.2023 - Current
- Responsible to develop internal audit programme to ensure that all functions/processes are covered to systematic review, manage inhouse audits as per the approved audit plan and identify quality audit observations based on Risk Control Matrix.
- Facilitate with external audits and supervise them to ensure that they carry out their responsibilities effectively
- Recognized for exceptional problem solving analytical, and execution skills. Proven track record of improving operation efficiency and ensuring regulatory compliance.
- Responsible to ensure adequate tracking and monitoring of ATR observations, prepare and assist in audit committee and CXO presentation proposed recommendations to enhance operational efficiency and identifying other areas of improvement
Chief Corporate Manager-Motor Claims
Reliance General Insurance Company
06.2012 - 03.2023
- Fully supports and endorses the Quality Assurance function of Motor Claims and promptly accepts and remediates deficiencies found by internal audit team
- Closely monitor the PPHI Compliance Parameters and ensures to be compliant according to regulatory guidelines
- Actively supports and drives the Technical Audit function of RGICL to ensure strong Process adherence and effective loss minimization
- Lead and delivers various cost-effective projects through efficient management and engagement of audit team
- Manage data mining and analytics to support product functions of audit
- Closely work in alliance with IT and other peer team to incorporate the necessary findings and innovations in the business model
- Expedite technical expertise in Legal Matters to ensure smooth functioning
Claims Adjuster
Public and Private Insurers and Various Surveyor Firms
12.2008 - 06.2012
- Worked as empanelled surveyor for New India Company as well as private general insurance companies such as Reliance, Royal Sundaram, Future Generali, Bharti Axa General Insurance Company etc
- Conduct insurance surveys and loss assessment in Motor, Engineering streams
- To analyze each and every claim for admissibility as per policy terms and conditions and circumstances of loss
- To negotiate with repairers for labour rates as well as possibility of repairs to certain parts
- To follow up with customers and Insurance Companies for documents required for processing of the claim
- Also handling Own Damage investigation and Theft investigation claims
- Conduction Risk inspection Surveys and Consulting on Risk Minimization techniques to various Industries
- Assisting M/s Hansraj Surveyors, Kamal Biyani Associates and Absolute Surveyors Pvt Ltd in conducting and assessing the losses in Miscellaneous, Marine and Fire surveys
Domain Consultant
L&T Infotech Ltd
01.2007 - 01.2008
- Support the Project Head with Insurance Domain and Business Knowledge eventually in Claims and Underwriting departments
- Worked as a Domain Consultant for Travelers Insurance Co
- Into Underwriting, Policy Administrative System and Claims related projects
- Critically study the Personal and Commercial Insurance products and evaluate the end user problems to present solutions to the development team
- Worked in Risk Management project as a Data Manager to identify and present Risk management techniques for various industries for Harleysville Insurance Co
- Conducting various sessions on Insurance Basics for the software engineers
- Attending online seminars and study the same to update the Team Members
Sr Service Engineer
Bajaj Allianz General Insurance Co Ltd
01.2005 - 01.2007
- To maintain and monitor day-to-day claims activities for all types of claims
- Supervising scrutiny of documents and survey reports through sub-ordinates
- Claim processing - preparation of claim recommendation sheet
- Inspections for major claims, engaged in negotiations with clients based on admissibility / quantum of a loss
- Initiate loss minimization measures by way of proper disposal of salvage, recoveries from third parties especially in marine claims
- Monthly Claim analysis of major accounts for profitable business generation
- Maintaining Turn Around Time (TAT) at all stages of claim settlements, work upon relevant parameters for further reduction in TAT / smooth operations
- Conducting the training sessions on Underwriting to enrich the domain knowledge of the back office associates and agents
- Product development research in view of the detariffing of the market
Assistant Manager
Absolute Surveyors Pvt Ltd
01.2004 - 01.2005
- Visiting different Insurance companies for marketing purpose of the different services provided by the company
- Conducting Fire, Marine and Engg surveys and loss assessment
- Monitor the investigation team and their activities
- Provides Loss minimization reports to corporate clients
Trainee Surveyor
Associate Surveyors Pvt Ltd
01.2002 - 01.2004
- To assist in Motor, Engineering and Fire surveys
- To negotiate with repairers for labour rates as well as possibility of repairs to certain parts & preparation of Survey reports under guidance of Seniors
Trainee PPC Engineer
Exemplar Nihon Spindle Mfg Co Ltd
01.2001 - 01.2002
- Trainee Engineer
Education
B.E. - Mechanical Engineering
Pune University
08.1997 - 08.2001
H.S.C. - undefined
Pune University
S.S.C. - undefined
Pune University
PG Diploma - Risk & Insurance Management
MIT college
Personal Information
- Date of Birth: 04/15/80
- Marital Status: Married
Timeline
Assistant Vice President-Internal Audit
Reliance General Insurance Company Ltd
04.2023 - Current
Chief Corporate Manager-Motor Claims
Reliance General Insurance Company
06.2012 - 03.2023
Claims Adjuster
Public and Private Insurers and Various Surveyor Firms
12.2008 - 06.2012
Domain Consultant
L&T Infotech Ltd
01.2007 - 01.2008
Sr Service Engineer
Bajaj Allianz General Insurance Co Ltd
01.2005 - 01.2007
Assistant Manager
Absolute Surveyors Pvt Ltd
01.2004 - 01.2005
Trainee Surveyor
Associate Surveyors Pvt Ltd
01.2002 - 01.2004
Trainee PPC Engineer
Exemplar Nihon Spindle Mfg Co Ltd
01.2001 - 01.2002
B.E. - Mechanical Engineering
Pune University
08.1997 - 08.2001
H.S.C. - undefined
Pune University
S.S.C. - undefined
Pune University
PG Diploma - Risk & Insurance Management
MIT college
Similar Profiles
Kondaveeti S R Sarath ChanduKondaveeti S R Sarath Chandu
Associate Sales Manager at Reliance General Insurance Company LtdAssociate Sales Manager at Reliance General Insurance Company Ltd
VAIBHAV CHAVANVAIBHAV CHAVAN
Program Manager at Reliance General Insurance CompanyProgram Manager at Reliance General Insurance Company
YASHRAJ NAGPUREYASHRAJ NAGPURE
Chief Manager- Actuarial at Reliance General Insurance Company LimitedChief Manager- Actuarial at Reliance General Insurance Company Limited
Jyothi PeesariJyothi Peesari
Telesales Officer at Reliance General Insurance companyTelesales Officer at Reliance General Insurance company
Navmita Das NandiNavmita Das Nandi
AVP Employee Engagement - Reward and Recognition at HSBCAVP Employee Engagement - Reward and Recognition at HSBC