Deputy Chief Manager - Group Operations - Life Insurance

Qualification - Any Graduate / Post graduation preferred.

Experience - Need a person who has spent 8-10 in Group Operations of a reasonable sized LI company. We can review the years of experience if the person has a professional qualification. Prior Group Asia experience is required,  Should have managed a team size of minimum 8-10 people.

Preferred industry - Life Insurance

Job Purpose : Responsible for Planning, Implementation & end to end Supervision of Operational activities for the entire policy life cycle of Group Risk business for Corporate clients by designing customised solutions as per client needs mitigating risks involved & ensuring delivery in adherence to all statutory, regulatory and internal guidelines.

Accountability Supporting Actions - 

Design, Manage, Control and implement Business Processes and ensure that the Service Levels are met at all times

1. Design and implement custom made processes to suit each Voluntary clients requirements ensuring compliance with company & regulatory norms, whilst working within budgetary limits

2. Discussion with Internal stakeholders with regards to Launch of new products and plans. Planning and implementation of the new products / plan within the timelines.

3. Design & Implement Key Business Projects & Initiatives. Track project milestones and deliverables.

4. Ensure adherence to business processes maintaining 100% Turn Around Time( TAT) and Accuracy for New business, Renewal, Policy Administration and medical Underwriting transactions

5. Ensure periodical review & revamp of processes/systems to identify gaps, eliminate wastages, develop innovative ideas & suggest corrective action wherever necessary, to improve overall efficiency & reduce costs

6. Approve exceptions post careful evaluation of risks involved, considering the impact on internal and external customers. Communicate approvals in a timely fashion.

7. Design processes to ensure 100% compliance to company & regulatory norms.

8. Ensure high Customer retention to maintain healthy Persistency scores. Undertake negotiations with the pricing team for competitive rates to maintain a healthy book.

9. Carry out Audit at regular intervals to ensure that all transactions processed are 100% accurate w.r.t processing and client communication

10. Intervene to resolve any delays with internal and external agencies for early closure of pending cases.

11. Monitor the team's capacity utilization and accuracy matrix at regular intervals to ensure that the same are as per the set standards.

12. Forecast business/transactions volumes & Ensure adequacy of staff for processing by recruiting skilled manpower.

13. Review & Approve SOPs. Ensure that the same is updated at all times

Facilitation of Medical and Non medical Underwriting 1. Ensure efficient management of the underwriting desk i.e. requirement initialization, hassle-free completion of client's medicals & conveying medical decision

2. Ensure that underwriting requirements are raised with 100% accuracy & periodic follow-ups are undertaken with Client/Broker/Service Vertical

3. Ensure seamless coordination with different departments including Third party administrators

4. Ensure that sensitive medical information is handled in the most sensitive & confidential manner given the high profile corporate clientele.

Identify, & evaluate Risks involved & build controls to mitigate the same

1. Identify and assess Risks affecting the business.

2. Design & Implement processes with robust control mechanism to mitigate the same & eliminate any Financial/Data loss to the organisation as well as the clients.

3. Periodically revisit processes to evaluate controls & amend the same as per need.

4. Organise appropriate risk reporting, to all the concerned stakeholders

Maintain Client Relationships by providing best in class services.

1. Understand customized client requirements & devise mechanism to ensure delivery of the same within the set timelines with 100% accuracy

2. Periodically undertake industry benchmarking surveys & incorporate best industry practices thus assisting the sales & service team to gain competitive advantage through differentiated customer service.

3. Conduct periodic feedback surveys to gauge & bridge any gap between service expectation & delivery.

Suggest & implement system automations & drive implementation of key business projects 1. Identify requirements for automation & enhancement & ensure development of the same by the IT team

2. Review & Approve User Requirement Document (UR) & Functional specification document (FSD) prepared by the IT team, to ensure that the same is in line with User specifications & approve the same. Seek delivery timelines for project completion

3. Pre-empt areas of concern & highlight the same with probable solutions

4. Provide inputs in user testing phase and provide Sign-Offs for - Go-live- i.e. production movement.

5. Provide the necessary inputs and development requirements for any New Product Set-up.

We'll prefer candidates who can join us at the earliest.