Policy Administration Specialist

1 day ago

Davangere, Karnataka, India beBeeInsurance Full time ₹ 40,00,000 - ₹ 80,00,000
Life Insurance Policy Service Associate Job Description

The Life Insurance Policy Service Associate will be responsible for processing post-issue service requests, handling routine maintenance tasks, and maintaining policy records.

  • Main Responsibilities:
  • Process address changes, beneficiary updates, ownership changes, payor changes, and banking information updates to ensure accurate policy data.
  • Handle routine maintenance tasks such as corrections to policy data, transaction reversals, and reinstatements to maintain compliance.
  • Maintain and update policy records in administration systems according to standard operating procedures to enhance efficiency.
  • Collaborate with TPAs, internal teams, and custodians to resolve discrepancies and ensure high-quality service delivery.
  • Research and resolve escalated issues or incomplete transactions related to policy servicing to minimize customer impact.
  • Ensure service levels and turnaround times are met according to SLA requirements to guarantee customer satisfaction.
  • Support audits and regulatory compliance activities by providing accurate documentation and timely responses to meet regulatory standards.
  • Maintain a strong understanding of policy administration systems, transaction codes, and process workflows to streamline operations.
  • Participate in process improvement initiatives and provide feedback for automation opportunities to enhance operational efficiency.

Required Skills and Qualifications

  • Graduation in any field, preferably Commerce, with a focus on quality and attention to detail.
  • At least 1 year of working experience in the Life insurance domain, requiring a focus on quality, accuracy, and accountability.
  • Experience working in a professional/office environment, requiring regular scheduled shifts and adherence to deadlines.
  • Proficiency in using a computer with Windows PC applications, including keyboard navigation and learning new software tools.
  • Effective English business communication skills required to exchange information with clients.

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