Abhishek Rukhaiyar

Howden Insurance Brokers India Pvt Ltd, Mumbai, India

Assistant Vice President (Jan 2020 – Present)
Senior Manager (Oct 2019 – Dec 2019)
Manager (Mar 2018 – Oct 2019)

Achievements

• Generated brokerage of INR 2.84 Mln from new accounts.
• Directed end to end renewal of old accounts with an additional brokerage of INR 2.96 Mln.
• Secured lead placement for two treaties from Bhutan.
• Placed 15 % shares in a placement where Aon team were stuck at 48 % support for 14 days past renewal date.
• Successfully operated the placement and accounting of a complex and challenging placement. There were four cedants, 11 reinsurers and two other intermediaries involved in the placement and the terms were differential.
• Built a new relationship with Marine Markets and placed five new accounts within one year.
• Placed set of 2 and 3 TBMs as a standalone basis. The two TBMs are in use in Kolkata Metro. The three TBMs are in use in Pune Metro. Further, placed additional share placement for Mumbai Metro TBMs.
• Placed several Engg, Marine, Terrorism, CPM, War-SRCC fac risks.
• Learned from non-materialized businesses such as Title Insurance, Auto Extended Maintenance, ABAN rigs, lead of GIC’s Liability XL.

Responsibilities

• Development of Treaty business and Non-Liability Fac (both Indian and Overseas).
• Supervising Reinsurance Accounting and back-office processes (such as MIS reporting, maintenance of various registers, Quality Control, etc).
• Maintenance of relationship with Insurance Companies, Reinsurance Companies & Co-Brokers and attending seminars and conferences.
• Analysis of Reinsurance Programmes of Insurance companies and giving recommendations.
• Coordination with other teams and dept in the organization (my department head operates out of a different city).

 

Mathrawala & Sons Insurance Brokers Pvt Ltd, Mumbai, India

Associate Vice President (Sep 2017 – Mar 2018)

• Marketed a new product, Stem Cell Medical Expense Insurance in the Indian Market.
• Gave presentation in National on Gross Account XL. Later, the same was adopted by National next year.

 

 

National Insurance Company Ltd, Kolkata, India

Assistant Manager (Sep 2016 – Aug 2017)
Administrative Officer (Aug 2011 – Aug 2016)

Achievements

• Increased the gross premium income for inward treaty business from INR 0.4 Bln to INR 1.6 Bln In five years
• Increased Fac Inward net premium from INR 40 Mln to INR 60 Mln in two years, suffering only one major loss of INR 20 Mln
• In 2016, in the second year of my handling the placement of Retro XL, placed the treaty with wider coverage, increased limit and higher EGNPI in price less than the previous year
• Presented the idea to digitize the important documents of the department. Before this, the documents were only kept in physical format. Developed a network location accessible by only department people using an old retired PC. The network location was used as a depository to keep the important documents in designated organized folders. The depository became the backbone of internal resources utilized by the whole Team.
• Developed an MS Excel-based database system which improved the efficiency of work and reduced time for working on data by almost 90 %. First developed the system for Inward Facultative, and then implement similar for the treaties.
• Monitored the payment of claims and recovery for the losses suffered from Thailand Floods. The losses were from various forms of treaties. Ascertaining the FGU loss for payments made on XL basis and dividing the individual losses based on 72 hours clause was a challenge

Treaty Underwriter (Nov 2012 – Aug 2017)

• Targeted new territories where National could be accepted as a reinsurer such as China, Egypt, Vietnam, Turkey, etc.
• Projected National as a Lead reinsurer for treaties and increased the lead in four companies from one.
• Handled portfolio of more than 100 treaties with retro-cedants such as Hannover Re, Kiln, Sirius International, Trust Re, Milli Re, Asian Re and bouquet of treaties from Bhutan, Nepal, Papua New Guinea, etc.
• Underwritten Agriculture Treaties from AIC and GIC’s Terrorism Pool XL

Facultative Underwriter (Oct 2011 – Aug 2015)

• Managed the portfolio for more than 2 years. Later, served as a supervisor.
• Worked on more than 2,000 Fac risks per year from Korea, Taiwan, Middle East, Bangladesh, Bhutan, Vietnam, etc.
• Streamlined the portfolio for optimized working by communicating the sourcing brokers of our risk appetite. It improved the risk acceptance rate, reduced the workload, increased the efficiency and raised the per risk average revenue.

Outward Treaty Placement (2013-14 – 2017-18)

• Managed the preparation of Treaty submission of the proportional treaty from 2013 onwards and All treaties in 2017.
• Improved the quality of Treaty submissions. Coined the concept of printer-friendly, one file Renewal Submissions.
• In 2017, changed the style of presentation by clubbing the treaties based on the class of business to remove any possibility of variation in data between proportional and non-proportional treaties of the same class. It also efficiently improved the work quality by eliminating any duplicate work in terms of data presentation.
• Governed the placement of Foreign Inward XL cover from 2015 onwards.
• Advised to create a separate treaty for Nepal business. Managed the whole placement (from procuring the raw data to finalizing the signed lines) in the next renewal for the new treaty.
• Presented the concept of Hazard based risk retention, implemented in the next year renewal in 2018-19.