To direct and manage the Policy Administration function for Individual Life, Health and Pension lines of businesses with the objective of enhancing customer satisfaction by establishing robust processes to attain high standards of service and ensure compliance to Company’s policies/standards and prevalent regulations .  Create an efficient departmental strategy aligned with the business objectives and ensure a robust process to effectively manage the team deliverables:  	 - Formulate and ensure implementation of departmental strategy, policy and procedures, ensuring that they are fully aligned and integrated with the business strategy to ensure that the company vision and key result areas are achieved.   - Create & manage departmental budget wrt to headcount, cost, IT etc.   - Establish, implement and report on metrics for the team such as quality of service, turnaround time, productivity, outliers and cost.   - Evaluate if systems and processes are geared up to meet KRAs and Goals else initiate projects for enhancements in the same.   - Provide regular reports to the senior management team relating to departmental performance statistics against standards to determine and improve the level of policy service.   Design, enable and drive execution of standardized Policy administration processes aimed at achieving client and sales force satisfaction in a sustained manner ensuring that the financial and reputational risk of the organization is well managed: 	 - Establish and implement policy admin processes compliant with Company’s products and policies as well as regulations.   - Recommend and obtain approval for KPIs viz. TAT/Accuracy/Productivity/Cost.   - Report performance vis-à-vis metrics, analyze and initiate and implement action plan to sustain / improve performance.   - Prescribe controls in consultation with Compliance  - Ensure that the Standard Operating Procedures, updated with the latest process changes and incorporating risk control measures, are adopted and internalized.   - Design & develop strong MIS to monitor adherence to processes and risk control measures.   - Analyze MIS and take suitable corrective steps wherever necessary and report to Compliance and other stakeholders.   - Review efficacy of risk mitigation measures already taken and initiate process improvement / tightening measures wherever required.  - Interact with sales force and customers, monitor causes of customer and sales force dissatisfaction, enable resources for resolution of such causes, set up and monitor an effective service failure recovery mechanism.   Build and manage a robust and cost efficient premium collection management system to provide adequate support for persistency and customer retention initiatives of the Company:  - Review efficacy of payment options in vogue from cost, reach and usage perspective.   - Identify and ensure roll out promotional activities for improving usage.   - Evaluate new payment options available across financial services industry  - Initiate and drive the process for implementation of new methods in coordination with IT, Procurement and Finance/Planning.   - Analyse performance of each of the methods and its impact on persistency.   Define and periodically review service standards in terms of quality, speed, costs, regulatory compliance and operational risks to achieve the aforementioned objectives:  - Analyse determinants of customer and sales force satisfaction  - Study the past performance and re-visit the lessons learnt.  - Analyse requirements and availability of people, space, systems, budgets   - Study regulatory requirements and appreciate the implications on the function in coordination with Compliance  - Seek and incorporate expectations of other functions involved in the processes  - Conduct periodic reviews of deviation situations, customer dissatisfaction. Weigh the benefit of accommodating the requests vis-à-vis the cost of adjusting the deviations  - Ensure that the risks are detailed out, the decisions are documented and the transactions are executed.  - Weigh the benefit of accommodating exception requests vis-à-vis the cost of adjusting the deviations.  Prepare budget for Policy Admin based on past experience and recent trends, monitor budget utilization and take steps to reduce policy servicing cost:  - Prepare budget requirements after reviewing past trends in performance, process improvements, new services and automation on the anvil.   - Effectively manage departmental budget and delivery of performance standards without compromising on service or quality.   - Initiate and implement process changes and projects for improving cost optimization/reductions  Initiate, enable and manage projects for improvements in processes, systems, client and sales force satisfaction:  - Be aware of the latest best practices and methodologies within policy servicing across the industry   - Identify projects based on above and analysis of past performance, feedback from clients and sales force, benchmarking and any other source.   - Supervise the preparation of business case for these projects  - Enable the approval of the project by getting all necessary internal approvals  - Enable the implementation of the project by creation of a project team, monitoring the project – through its stages of planning, execution and closing.   Team Management: 	  - Assess training needs and ensure relevant level of training, development and coaching is made available to team members aiming to improve team and individual effectiveness.  - Encourage and support employees in their professional development giving them the best opportunities to develop their abilities and live and breathe the company vision and values at all times.   - Evaluate, coach and develop team members to build self confidence and capability and to ensure that the team is upgraded and operates to the highest possible standards of policy servicing.   - Ensure timely, accurate implementation of HR practices such as job description, appraisals, OHS and feedback.

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Head/Associate VP - Policy Administration - Insurance 

Head/Associate VP - Policy Administration - Insurance  ,Job Description for Head/Associate VP - Policy Administration - Insurance  in Upman Placements in  Others for (12-15) years of experience. Apply Now!

Job Description for Head/Associate VP - Policy Administration - Insurance  in Upman Placements in  Others for (12-15) years of experience. Apply Now!