AVP - Customer Retention & Renewal (Insurance)

2 weeks ago

Gurgaon, Haryana, India Talent Toppers Full time ₹ 15,00,000 - ₹ 20,00,000 per year

Hiring for a client of Talent toppers

JOB SUMMARY

  • The incumbent will be responsible for defining and designing policies and process for enhancing persistency.
  • Design and roll out of PMS changes needed in distribution. Perform qualitative & quantitative analysis to firm up strategy for driving outcomes.
  • Expectations include assisting in developing, maintaining & improving programs MIS, processes & procedures. Driving change behavior to successfully implement the changes.
  • Need strong project management skills - have a well-organized & structured approach with ability to achieve tight timelines & prioritize effectively.
  • Responsible for creating a framework for improving the quality of sales through onboarding controls.
  • Assigned person role would need to work with key stakeholders (SVP & VP) of Bank for driving various projects.
  • This job has a single point accountability for Centralized Project management with Banks, Automation and simplification of Processes in Bank, Audit & Regulatory data management, MIS and regular updates to Banks.
  • The key responsibility for incumbent would be to drive Initiatives to meet the business key performance indicators along with Bank, cross functional teams and Bank central team.
  • The profile also includes Data management, reporting for business and audit/regulatory requirements involving simplification and automation of processes.

Key Actionable

  • Create strategy for each segment of the portfolio based on risk model to drive collection efficiency & drive initiatives in line with laid strategies to empower various interdepartmental teams life FCT, call center, distribution spocs, CET & other relevant teams.
  • Monitor portfolio to study pattern based on portfolio triggers & identify early warning signals to take corrective actions.
  • Bring industry benchmarked insights & market intel to understand and implement best practices.
  • Develop strategic presentations for leadership.
  • Create a strong framework for driving onboarding controls and ensure quality of sale.
  • Work with business teams and external vendors to bring new ideas and create strategies for renewal collections.
  • Collaborate with various stake holders to ensure timely delivery & completion of initiatives.
  • Develop/onboard technology to drive renewal & persistency through market leading technology.

Measures of Success

  • Project Management - Achievement of desired project outcomes within agreed timelines, monitoring and automation of process/project implemented, cross functional integration
  • Regular governance/engagement with segment head and distribution segment head
  • Automation and availability of all business related reports/MIS/Dashboard/Scorecard for the Channel/Segment driving all business parameters
  • Driving Operational efficiencies with Bank and distribution team to achieve OPS KPI's
  • Achieve Renewal/persistency targets
  • Persistency - 88%+
  • RI - 100% of target
  • Audit Rating of 2 or less, No repeat observation
  • Talent retention and Employee Engagement

Desired qualification and experience

  • Graduate / Post Graduate qualification.
  • Must have a minimum of years of experience.
  • Preferably in renewal & retention.
  • Sound Knowledge of Bancassurance or Banking Operations Model.

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