Joy Patrao

A competent Insurance professional with a proven record of successfully managing Underwriting and Claims process in the insurance industry for over 28 years. After an illustrious career of over 2 decades in Kuwait, I had the opportunity to lead the Marine Department of an established local insurance company in UAE. Currently working with a Kuwaiti Insurance Broking Company as General Manager.

I am proactive and highly focused with a strong emphasis on customer relations. Now seeking a senior position in the MENA market where I can demonstrate my insurance knowledge and experience.

General Manager at Kuwait Insurance Brokers Bureau (2023-10 – Present)

• Manage overall functions of the Company including Business Planning and Development
• Developing and implementing the company's strategic plans, goals, and objectives in alignment with the overall business strategy.
• Assessing and managing risks associated with insurance broking activities. Ensuring compliance with legal and regulatory requirements, maintaining appropriate insurance coverage for the firm, and implementing risk mitigation strategies.
• Building and maintaining strong relationships with clients to understand their insurance needs and provide tailored solutions. Resolving client concerns, addressing service issues, and ensuring high levels of client satisfaction.
• Growing strong network of contacts and staying connected with industry peers to stay informed about market developments and emerging trends.

Manager – Marine & Aviation Department at Al Khazna Insurance Company (AKIC) (2018-10 – 2023-04)

• Leading the Marine team of AKIC.
• Manage overall functions of the Marine & Aviation Department across all offices.
• Strategize with the Management regarding Future plans for Growth of the company.
• Business Development through regular meetings with clients, brokers, reinsurers & surveyors.
• Accept proposals and ensure accurate reinsurance cover prior to underwriting business.
• Negotiate with Brokers, Clients for finalization of business.
• Authorize claim payments and ensure realization of recoveries from Third Parties where feasible.
• Provide timely, accurate and complete reports to the Management at regular intervals.
• Train and Develop subordinates to improve productivity and profitability.

Manager – Marine & Aviation Department at National Takaful Insurance Company (NTIC) (2004-08 – 2018-09)

• Risk Factor analysis, assessment of and obtaining reinsurance support required, negotiating terms and conditions with Reinsurers, and coordinating with the Reinsurance Department.
• Generating quotes, negotiating terms with the client and issuance of Policies.
• Evaluations of loss ratio records and recommend suitable corrective measures.
• Ensuring that timely renewals, issuance facultative reinsurance slips and premium closings.
• Preparation of production reports, reinsurance reports and closings.
• Assessment of Company's liability for the event under the insurance policy.
• Appointment of Surveyors, Lawyers and Average adjusters etc. Determine Third-party involvement for recovery actions; regular monitoring of recovery actions in liaison with Legal Department/Lawyers.
• Supervise issuance of claim settlement, reinsurance reports and closings.
• Review of Reinsurance Treaty wordings and recommend improvisation.
• Compile reports/statistical records as a pre-requisite to Reinsurance treaty renewals.

Underwriting Assistant – Marine & Aviation Department at Al-Ahleia Insurance Company (AIC) (1997-06 – 2004-08)

• Issuance of policies, endorsements, reinsurance closings and follow-up renewals.
• Preparation of claim-settlement documents, reinsurance closings, production reports for treaty purpose and loss ratio records for clients.
• Allocating and monitoring of estimates in respect of open claims.

Bachelor Degree in Science in Science – Mangalore University