Insurance Manager

Tasks Objective The position will be responsible for insurance related business development business management functions - for Mercedes-Benz Insurance programs - such as 1 Ensure achievement of OP targets 2 Manage relationship with insurer and ensure delivery of agreed SLA s 3 Manage day-to-day operation of insurance business 4 Ensure implementation of Insurance strategy and program management 5 Ensure operational excellence and total customer care in all retail lines 6 Meet dealers dealers sales staff MBFS sales teams Brand partners to push for business 7 Leading continuous change and process improvement 8 Ensure that the business is compliant The position will interact with the following team to achieve the objectives 1 Insurance company s Sales both in HO in branches Claims servicing both in HO in branches Product Underwriting teams 2 Mercedes-Benz dealers and dealer management teams 3 Mercedes-Benz sales team 4 Mercedes-Benz Finance Insurance After Sales team 5 Mercedes-Benz India MB a Internal teams such as F C Legal Ops IT Main Accountabilities Business Development Drive new used insurance business with the help of MBF BBF and Insurance company sales teams and ensure achievement of 1 Insurance penetration target on retail sales of MB 2 Insurance penetration target on in-house financed cases of MB 3 Monitor follow-up and conversion of renewal business for MB 4 Offering business development support to the sales teams dealers 5 Prepare training content and facilitate training programs for sales and after sales teams of dealers with insurance company 6 Along with Motor drive Advance Assurance business as well Insurance Claims Management 1 Ensure implementation of claims SLA with Insurance companies 2 Analyses of claims data received from the insurance company and highlight the areas of improvement in order to maintain the TATs of claim settlement 3 Attend to claim escalations raised by the customers dealers sales teams and ensure resolution Renewal Management 1 Ensure Renewal targets are met 2 Renewal strategy and implementation across all dealerships in conjunction with Insurance companies Drive Motor and Advance Assurance product 1 Ensure KPI targets are met 2 Renewal strategy and implementation across all dealerships in conjunction with Insurance companies and MB after sales 3 Decide pricing and do periodic review with Insurance companies to ensure prices are at par with market 4 Regular review on Claims Management and ensure TAT is maintained New Product discussion with Brand partner MB 1 Work with MB after sales or sales to come up with new products 2 Curating new product and niche product for the program 3 Alignment of the product expectation with all insurance partners 4 Alignment with Brand partners on the product 5 Co-ordinate with Insurance company to launch the product 6 New product launch training system and other related activity IT IT vendor management and work closely for timely updation Look after any IT related updation modification as per Regulatory requirements Adaptation on HQ projects and expectation on IT fronts Brand partner system integration Adaption of new products in the IT system Maintenance of existing POS with aligned system MIS Management 1 Dashboard Report Daily MIS on TGT v s Achievement i e Finance and Ins Dealer wise analysis for AA Renewal 2 Tracking dealer wise branch wise Renewal AA penetration 3 Take deep dive to identify dealer executive wise MIS to identify non-contributing staff 4 Drive and challenge F I Managers on their assumptions of how they will successfully execute their plans 5 Data collection from field as per requirement of management 6 Processing of data Identifying the trends presenting info and highlighting the gaps 7 analysis of new business opportunities Operational Activities A Payouts 1 Calculation of dealer payout and DFS retention with insurance company followed by its validation with F C team on monthly basis 2 Send communication to each dealer with payout statement for the month more than 40 in nos with individual calculations 3 Follow-up with insurance company and monitor the payment to all the dealers with in the defined TATs B Claims Workshops 1 Conduct claims workshops with both brand partners and also insurance companies 2 Implement claims related best practice 3 Addressing claims concerns either from Brand partner Dealers Customers and work closely with Insurance companies and ensure closer of complaint within stipulated time period 4 Liaisoning with Brand partner and insurance companies on escalation 5 Working closely with Customer Services team on redressal of escalation Manage Brand Partner relationship Keeping up with expectation of brand partner on product and services Understanding the requirements from Sales and after sales team Aligning the expectation with all stake holders Engaging Brand partners on the insurance needs and in cross functional meets Foster strong ties with insurance partners on various aspects Sales support Claims Support Product Support IT Support Regulatory alignment and support Joint Campaign designing Qualifications Education Work experience Minimum 10 - 15 years experience with Insurance companies Corporate Agent Brokers preferably in Product Operations underwriting Claims Preferably MBA With in depth knowledge about insurance industry specifically about motor industry Competencies 1 Team working results orientated ability to solve problems and strong man management skills excellent negotiating skills Develops relationships with other teams self-driven willing to travel 2 Excellent Excel PPT skills Analytical and data mining skills 3 Calculation of Combine Ratio and Loss Ratio 4 Strong understanding of Insurance laws and various IMT and GR 5 Claims Management 6 New Product Development and Understanding all Insurance regulations 7 Fluent oral written English