Assistant Vice President Life Insurance

13 hours ago

Mumbai, Maharashtra, India Amrit Consultancy Full time
Overview The Assistant Vice President of Life Insurance plays a crucial role in the organization by overseeing the development and implementation of life insurance products and initiatives that support the overall growth and profitability of the company. This position requires a strategic thinker with a deep understanding of the insurance landscape, regulatory requirements, and market dynamics. The Assistant Vice President will collaborate closely with various departments, including underwriting, sales, and marketing, to ensure alignment with the company's goals and vision. They will be responsible for managing a team of professionals, providing leadership, and fostering a culture of continuous improvement. The ideal candidate will possess a proven track record in the life insurance sector, with strong analytical and interpersonal skills, allowing them to navigate challenges and capitalize on opportunities. This role is vital for enhancing operational efficiency, improving customer experiences, and driving revenue growth, thereby reinforcing the organization's position as a leader in the life insurance market.Key Responsibilities
  • Develop and implement strategic initiatives for life insurance products.
  • Lead a team of professionals in delivering high-quality insurance services.
  • Conduct market research to identify trends and opportunities.
  • Ensure compliance with regulatory requirements and industry standards.
  • Collaborate with sales and marketing teams to create effective promotional strategies.
  • Monitor and analyze product performance and profitability.
  • Develop and manage budgets for department operations.
  • Provide training and mentorship to team members.
  • Establish and maintain relationships with key stakeholders and partners.
  • Conduct risk assessments for product offerings to ensure sustainability.
  • Oversee the underwriting process to maintain quality and efficiency.
  • Facilitate executive reporting on product performance and strategic initiatives.
  • Implement customer feedback mechanisms to improve service delivery.
  • Drive technology solutions to enhance product offerings and customer interactions.
  • Participate in industry events and represent the company to enhance visibility.
Required Qualifications
  • Bachelor's degree in Finance, Business, or a related field; Master's degree preferred.
  • Minimum of 10 years of experience in the life insurance industry.
  • Proven track record in leadership roles within insurance.
  • Strong understanding of life insurance products and market dynamics.
  • Expertise in regulatory compliance and risk management.
  • Demonstrated ability to develop and execute business strategies.
  • Exceptional communication and interpersonal skills.
  • Ability to analyze complex data and make informed decisions.
  • Experience in budgeting and financial management.
  • Proficient in insurance software and technology tools.
  • Strong negotiation skills and customer service orientation.
  • Ability to work under pressure and meet deadlines.
  • Professional certification in insurance or finance is an advantage.
  • Commitment to continuous learning and professional development.
  • Ability to work collaboratively in a team-oriented environment.
JD. 1. Supervising CPC Channel Support team, managing payout cycles for Group, Individual, Medical, Investigators and managing Hierarchy mappings/reconciliations and Escalation desk. 2. Handling a team of 14 members 3. Handling various adhoc requirements from management or other departments 4. To ensure commission/payouts are generated and processed accurately, timely to management and various departments. 5. Managing Regulatory reporting and ensuring timely & accurate submissions 6. Ensuring fortnightly meetings are conducted and preparing/tracking actionable. 7. Managing Internal, IFC, Statutory audits and ensuring timely responses to queries raised. 8. Drive various projects pertaining to payouts and automation of existing activities.

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