Sumeet Umani
Edmonton,Canada
Summary
Dynamic Sales Manager with a proven track record at Manipal Cigna Health Insurance, excelling in client acquisition and financial analysis. Adept at driving new business growth while ensuring exceptional customer satisfaction. Strong expertise in financial reporting and outstanding interpersonal skills, consistently achieving sales targets and enhancing team performance.
Overview
12
12
years of professional experience
Work History
Sales Manager
Manipal Cigna Health Insurance Co. Ltd.
Gandhidham, India
01.2023 - 11.2024
- Generate new business to achieve defined sales and revenue targets
- Keeping In and out knowledge of the products being sold by him
- Create proper comparison of the similar products in other companies
- Create and manage an effective Sales Tracker to measure and manage their activity levels
- Continuously improve the quality of sale and key sales ratios by attending the trainings arranged for them, if required
- Providing timely MIS as required relating to the various aspects of the business-Applied, business lead generation, Issued business, product mix, lapsation, etc
- Conduct a credit report on customers to find out what sort of insurance rates they can be given, explain to customers what sort of coverage they are getting, and what kind of monetary values the insurance company will payout in the event of damage to the insured
- Ensuring complete customer satisfaction starting from the first payment of premium till the claim management
- Liasoning with Insurance Company’s representatives on a regular basis
- Ensure timely and accurate compliance to all statutory requirements
- To check if all the required documents and forms are in place, wherever applicable
- Client acquisition and client account management - this includes both retail and institutional clients
- Review Guardian products and prepare sales and promotional materials for Guardian’s products
- Create and execute sales strategies for Guardian’s products
- Proactively review Guardian’s existing client base - create and execute sales strategies aimed at Guardian’s existing client base
- Work with leadership to plan, implement, and execute strategies related to business development
Agency Manager
Aditya Birla Health Insurance Co. Ltd.
Gandhidham, India
06.2021 - 12.2022
- Managing sales & distribution of health products in the assigned location
- Consistently achieving sales target as below: GWP sales target, New Agent Recruitment targets, Agent Activization
- Responsible for building a strong Agency Network
- Regularly train & develop existing and recruited agents
- Build a productive distribution by consistently engaging with agency
- Continuously review agent’s performance and their productivity and set periodic targets
- Obtain regular feedback and build in new ideas based on market reports
- Coordination with UW, Ops & Claims departments for all backend support
- Organize and run recruitment events for branch
- Be an expert in the recruitment process i.e., have the ability to identify the prospective agents for the unit
- Conduct review discussion/wake-up meetings as and when required
- Plan goals & performance needs for agents in a specific manner
- Be an expert in the sales process and conduct mechanisms to build the same with one’s team through periodic on-floor coaching
- Own the operational aspects of coding new agents and day-to-day interactions with support functions whenever required
- Successfully run the 'Train-Audit-Retain' cycle on the skills of the agents
- Handle the Selection to on-boarding process of the agents
- Take responsibility of the agents’ income
- Help whenever needed in prospecting/suspecting activity in the field
- Operate as a product 'Subject Matter Expert'
- Attend Joint field work activity
- Direct and indirect marketing to increase business turnover
- Responsible for assigning & finalizing targets, monitors & review periodically
- Act as a Team Leader to the Advisors and ensure their targets are achieved
- Generate leads from visits and calls made
- Communicates effectively with all the customers, follow up on customer enquiries
- Provide insurance needs advice based on risk assessment
- Understanding individual clients needs based on their unique circumstances
Development Manager
SBI Life Insurance Co. Ltd.
Bhuj, India
08.2019 - 11.2020
- Assisting in different accounting and financial activities like, preparing investment reconciliations and investment accounting in Excel and Portfolio Management software for different Captive insurance clients across various locations
- Assisting in Accounts payable activities like reviewing invoices, preparation, and processing of check requests, set invoices up for payment, resolve invoice discrepancies, vendor file maintenance, corresponding with vendors and responding to inquiries & assisting in monthly closings
- Performing expense management for employees if required across different locations
- Performing periodic updates and audits of data elements to ensure accuracy and timeliness
- Delivery of high-quality services with a focus on client retention and business development
- Preparation of client documentation and ensuring 100% accuracy prior to distribution to clients
- Develop and maintain relationships with insurers, clients and other key stakeholders (internal and external), representing SBI Life Insurance Co
- Ltd a professional manner
- Maintain comprehensive client data on SBI Life Insurance systems, facilities and databases
- Compare renewal terms with previous year
- Collaboration with other colleagues to facilitate the growth and success of SBI Life Insurance Co
- Ltd
- Liaise with Operations on any issues the team may be having and provide suggestions for improvement
- Support the management of client’s claims by responding to client’s calls and enquiries and providing advice on the claim process, liaise with insurance assessors as required and ensure agreed claims standards are achieved and timely settlement of claims
- Ensure all documentation is prepared in accordance with company service and compliance procedures
- Ability to understand a client or prospect’s business, situations, opportunities, problems and key issues
- Ability to manage relationships and negotiate placement with the insurance market
- Prepare client and prospect presentations considering the impact of client profitability
- Work with the account team in determining appropriate solutions and structuring and pricing the deal
- Support placing strategy
- Participate in information gathering exercises
- A thorough understanding and an expert real time user for all relevant systems
- Develop a strong relationship with clients
- Understand changes in client circumstances
- Prepare client and prospect presentations considering the impact of client profitability
- Understand the clients’ business and their risk management needs and look for solutions to deliver those needs through the provision of ongoing service
- Understand, apply and adhere to the business unit policies and procedures
- Provide technical, industry and subject matter expertise and guidance where required
- Draw on expertise within specialist technical teams
- Assist with and design programme and pricing structures to best meet the client’s needs
- Develop and maintain a pipeline of prospects
- Proactively develop appropriate solutions and proposals for clients
- Development of service plans that define the engagement and timing of engagement with the client
- Provide feedback on corrective action required to retain clients or enhance process performance
- Develop and maintain knowledge of relevant products and services offered by SBI Life Insurance Co
- Ltd
- Respond professionally to customer inquiries/complaints received via phone or e-mail and ensure that appropriate action is taken, including follow up
- Research participant questions and plan issues
- Maintain complete and accurate case notes
- Work closely with other customer service representatives and client representatives
- Complete special projects as needed
- Communicate on a proactive basis
- Participate in team meetings and training
- Read and understand the client’s plan documents, amendments, etc
- Follow procedures and guidelines
- Able to comfortably question the customer in an encouraging manner to affect a positive relationship and establish a comfort level to gain the customer’s confidence
- Possess the ability to analyse and solve problems in a changeable work environment
- Possess a cooperative and positive attitude towards customers and team members
Accounts Receivables Executive
Oman Insurance Company
Doha, Qatar
05.2018 - 05.2019
- Ensure that all accounting documents are posted on daily basis and control its accuracy and validity
- Active role in IFRS 9 (Financial Instruments), IFRS 15 (Revenue Accounting)
- Ensure all financial transactions are recorded accurately and proper records are maintained in to conform to statutory and reporting requirements
- Maintain and update the chart of accounts and allocation parameters
- Assist in the review and preparation of the monthly /quarterly / yearly reports in line with the existing regulations and deadline
- Follow up on the monthly/quarterly /yearly closing activities required to provide the accurate and complete trial balance needed for the financial statements preparation and assist in coordination with the external auditors in their review
- Assist in the communication with the internal and external auditors and comply with the audit requirements
- Manage the custody of closing & control files, journals, documents, and contracts
- Provide continuous improvement feedback and coordinate the implementation of company systems that satisfies the financial need in compliance with the corporate reporting requirements and control
- Oversee the preparation of reinsurance reports and remittances, track outstanding receivables, and any related reinsurance accounting
- Conduct credit checks and adhere to new credit management policy and review credit limit and report to management
- Assist in the budget monitor & variance reporting on monthly & Quarterly basis
- Responsible to protect the company’s assets and maintain the related registers
- Assist in the investments monitor & reporting on monthly basis
- Preparation of monthly Financials and MIS as required by Management for review
- Sending monthly statements to Reinsurers and ensure smooth reconciliation with zero difference
- To update customers’ information in the system to ensure adequate follow-up for repayment
- To coordinate with the concerned department regarding customers’ payment cheques to reduce past due position
- Overall responsibility for handling Reinsurance accounts for proportional, non-proportional and XOL (Excess of Loss) treaty, facultative including payment and collection process
- Garage payments (Liability-Motor Insurance) to supervise juniors, claim payments, sundry creditors’ payments, utility bill payment
- Studies the situation of the customer on a case-by-case basis and applies the right approach/method of collection/recovery procedures that would increase recovery chance and cash collections
- Recommends deferment of instalments, short payments, write-offs, new provisions and re-scheduling (depending on the case and as per delegated authorities) in the best interest of the company
- Periodic visits to major broker/ client to maintain good relationship with them and resolve reconciliation and payment related issues
- Co-ordination of Statutory Audit/Internal Audit/External Audit
- Monitors collections & recoveries’ performance to ensure agreed targets are achieved
- Identifies deteriorating risks at an early stage and initiates/recommends remedial action to minimize credit losses
- Perform any other duties or responsibilities consistent with the role as assigned by management
- Prepare updates to IFRS accounting policies in response to business or regulatory changes
- To assist the team led of the IFRS project in the implementation of the new insurance accounting standard for the company
Administrative Assistant (Finance)
Doha Bank Assurance Company LLC
Doha, Qatar
03.2015 - 04.2018
- Ensures timely collection of premiums through regular email & phone correspondence
- Maintains Accounts Receivables Master Report in excel (Invoices, collection, broker commission & Monthly Amortization)
- Maintain and update information sheets containing details and status reports of all AR transactions for efficient follow up and effective reporting
- Preparing and sending Premium Reminder/Overdue Premium Notices to the clients on monthly basis
- Review credit limits for new and existing customers and submit recommendations
- Collecting outstanding debts from customers and achieve collection target to ensure positive cash flow
- Prepares weekly AR aging & collection reports for management review and analysis
- Ensure that all accounting documents are posted on daily basis and control its accuracy and validity
- Regular follow up with brokers/clients/insurance companies in order to collect receivables
- Manage the custody of closing & control files, journals, documents, and contracts
- Reconciliation and settlement of accounts with reinsurers
- Follow up and coordination with reinsurer and insurance companies for settlements of insurance receivables and payables
- Handles and prepares balance confirmation during year-end audits
- Assist Controller in preparing financial statements
- Providing valuable information to management by participating monthly in analysis of aging, bad debt and receivable report with managers of all levels; reporting and answering questions
- Ensure all financial transactions are recorded accurately and proper records are maintained in to confirm to statutory and reporting requirements
- Assists in providing the auditors with the required documentations or reports during quarterly and yearly audits
- Ensure allocation/netting of receipts on a timely basis
- Set up controls and procedures for debtors’ invoices
- Prepare file for legal action and coordinate with the legal department on matters related to debt recovery through legal recourse
- Requesting for latest SOA from reinsures and ensure that all relevant information necessary for the reconciliation are available from the client SOA
- Analyse and assess customer’s repayment problems and restructure payment proposals to achieve the assigned recovery targets
- Ensuring claim payments on time
- Refund of premiums
- Regular and close coordination with the client to resolve any pending issues/quires
- Ensure that Receipts (old & new) are properly allocated/netted on monthly basis
- Responsible to protect the company’s assets and maintain the related registers
- General ledger reconciliation & age wise analysis
- Meeting customers to set up recovery process, settlement of disputes and issues
- Support in IFRS implementation
- Other ad hoc duties assigned by the Head of Finance
Finance & Cost Controller
Stone Gallery WLL
Doha, Qatar
09.2012 - 02.2015
- Manage day-to-day accounting processes
- Improve utilization of reporting and efficiency comparisons
- Pricing controls and improvement of reporting on same
- Recording and reconciliation of project recoveries and income generation
- Monitoring of the petty cash and bank balance to ensure enough funds are always available depending on the program needs
- Provide financial management advice on revisions of budgets, preparing periodical forecasts and any change needed
- Management and reconciliation of the bank and cash accounts, preparation of the weekly cash accounts and monthly financial records including cash books, day books, ensuring financial and resource accountability and effective management for records required for auditing
- Disbursement of cash advances and reconciliation to ensure recovery
- Ensure best practices in procurement
- Calculating Standard and Actual Costing
- Ensure inventory is valued accurately
- Handling shipments from various countries and keep the up-to-date record
- Assist with profitability analysis on new and existing products and customers
- Consolidation entries
- Continuously looking for process improvement to drive efficiencies within the department
- Ensure accuracy of financial statements through strict account reconciliation process
- Improve quality of account reconciliations i.e
- Account description, process overview and documentation supporting them
- Compilation of Marketing Intelligence Information
- Comparing financial performance against budget
- Minimizing expenditures and control the costs
- Comparing financial performance against budget, Audit, Statutory Compliances, Financial Operations
- Balance Sheet Reconciliation, Accruals and Prepayments
- Local fixed asset register maintenance and depreciation posting
- Vendor/Customer Master Data Maintenance
- Establish comprehensive cost control process to manage budget, process invoices, and to monitor project expenditures against approved project budgets
- Ensure that internal audit issues related to general ledger are monitored and closed timely
- Prepare variance reports, obtain justifications/reasons, and suggest corrective actions as needed
Education
MBA - Finance
Gujarat Technological University
BBA - Finance
Bhavnagar University
HSC - Commerce
Gujarat Education Board
FIII -
Insurance Institute of India
Skills
- Financial Control/Analysis
- Accounts Management
- Finance
- Accounting and Administration
- Bank/Supplier Reconciliation
- Cash Management
- General and Life Insurance Products
- Customer Relationship Management
- Business Booking
- MIS Reports
- Operations
- Excellent communication skills
- Accounting principles
- IFRS
- IAS
- GAAP
- Financial Reporting
- Insurance markets knowledge
- Client service delivery
- New business sales process
- Financial statement analysis
- Goal-oriented
- Interpersonal skills
- Attention to detail
- Project ownership
Linguistics
- English
- Hindi
- Gujarati
Personal Information
- Passport Number: M8512754
- Dependents: 2
- Date of Birth: 10/20/88
- Marital Status: Married
Timeline
Sales Manager
Manipal Cigna Health Insurance Co. Ltd.
01.2023 - 11.2024
Agency Manager
Aditya Birla Health Insurance Co. Ltd.
06.2021 - 12.2022
Development Manager
SBI Life Insurance Co. Ltd.
08.2019 - 11.2020
Accounts Receivables Executive
Oman Insurance Company
05.2018 - 05.2019
Administrative Assistant (Finance)
Doha Bank Assurance Company LLC
03.2015 - 04.2018
Finance & Cost Controller
Stone Gallery WLL
09.2012 - 02.2015
MBA - Finance
Gujarat Technological University
BBA - Finance
Bhavnagar University
HSC - Commerce
Gujarat Education Board
FIII -
Insurance Institute of India
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