Persistency Manager

ABOUT THE DEPARTMENT:

The (Indian) International Financial Services Centre/s (IFSC) is a Special Economic Zone (SEZ) for financial services (banking, capital market, insurance and other allied services) regulated by the (Indian) International Financial Services Centres Authority (IFSCA). HDFC Re is in the process of establishing an IFSC Insurance Office (IIO), a branch in an unincorporated form at GIFT City, IFSC, India. Through this branch, HDFC Re plans to distribute non-INR denomination insurance products to retail clients across the world.

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PURPOSE OF THE JOB:

The Persistency Manager will be responsible for leading the strategic design, execution, and monitoring of initiatives to improve persistency across channels and customer segments. This role will drive renewal premium collections, enable cross-functional alignment, and implement process and technology-based solutions that enhance customer retention, optimize costs, and elevate customer experience.

KEY RESPONSIBILITIES :

Persistency Strategy & Execution:

• Develop and execute a comprehensive persistency improvement strategy across 13M, 25M, and 61M metrics.
• Drive segmented interventions based on channel, customer type, product, and risk profile.
• Align persistency objectives with business and channel goals.

Channel & Stakeholder Engagement:

• Collaborate with sales heads, agents and OPS to drive ownership and accountability.
• Train and enable agents, and partners with persistency dashboard, scripts, and SOPs.
• Conduct regular performance reviews with regional/channel teams.

Process Design & Improvement:

• Design and implement end-to-end persistency and renewal management workflows.
• Standardize escalation matrices, follow-up protocols, and revival journeys.
• Document and update Persistency Playbook with best practices.

Technology & Automation Enablement:

• Work with digital and IT teams to build CRM nudges, WhatsApp/SMS reminders and alerts.
• Monitor usage of digital SI renewal journeys and improve adoption.
• Work with data analytics team to work on predictive modelling and conduct UAT testing of dashboards
• Exploring and offering newer and efficient payment solutions to enhance customer offerings.

Reporting & Governance:

• Monitor persistency KPIs daily/weekly/monthly across products, channels and agents
• Publish MIS dashboards for leadership and anchor governance reviews.
• Identify drop-off trends and recommend corrective actions.

KNOWLEDGE REQUIRED:

• Insurance industry knowledge
• Strong business sense and industry expertise
• Strong analytical and problem-solving skills with a keen attention to detail.
• Proficiency in MS Office (advanced Excel functions such as Pivot Tables, VLOOKUP, charts, etc.)
• Proficiency in English

SKILLS REQUIRED:

• Ability to publish and share data in a structured, timely manner as per business requirements.
• Time management, planning and reporting skills
• Excellent communication and interpersonal skills for effective coordination across multiple stakeholders.
• Self-motivated, organized, and able to manage multiple tasks under tight timelines.

PROFESSIONAL EXPERIENCE:

Minimum 4-8 years experience in life insurance persistency, customer experience and renewals.