AVP - Retention & Renewals - Insurance

Experience: 15+ years | Preferably in renewal, retention, or bancassurance operations

Job Summary:

We are seeking a dynamic professional for the role of - AVP - Customer Retention & Renewal to lead strategic initiatives aimed at improving persistency and customer retention across the bancassurance channel. This role will support the Senior Vice President and collaborate closely with internal teams, bank stakeholders, and external partners to design, implement, and monitor retention and renewal programs.

The incumbent will play a key role in enhancing onboarding controls, streamlining processes, driving behavioral change, and ensuring data-driven decision-making to deliver measurable business outcomes.

Key Responsibilities:

- Develop and execute persistency strategies based on risk segmentation and customer behavior analysis

- Implement changes in Performance Management Systems (PMS) aligned with distribution objectives

- Drive end-to-end project management across key initiatives in collaboration with internal and bank stakeholders

- Establish strong onboarding control frameworks to ensure quality of sales and long-term retention

- Track and analyze portfolio performance to identify early warning signals and initiate corrective actions

- Lead process simplification and automation efforts for business, audit, and regulatory reporting

- Provide strategic insights through dashboards, scorecards, and leadership presentations

- Bring in external market intelligence and benchmarks to guide internal best practices

- Work closely with technology and vendor partners to develop innovative solutions for renewals and collections

- Ensure timely project delivery and adoption of initiatives through cross-functional coordination

Measures of Success:

- Effective delivery of key retention and renewal initiatives within defined timelines

- Achieving persistency targets (88%+) and 100% of Renewal Income (RI) goals

- Timely availability and automation of business dashboards and MIS

- Positive outcomes in internal/external audits (rating of 2 or below, no repeat observations)

- Strong operational alignment with bank stakeholders and internal teams

- High employee engagement and team retention

Qualifications & Experience:

- Graduate or Postgraduate degree

- Minimum 15+ years of relevant experience in customer retention, renewals, or bancassurance operations

- Strong expertise in project management, process improvement, and stakeholder engagement

- Deep understanding of insurance and banking operations, especially in customer lifecycle management