Customer Retention Officer

Job Description

Position

Customer Retention Officer/ AM Customer Retention Officer

100

Department

Customer Retention Team

Function

Operations

Reporting to

Manager –Collections

Band

5

Location

Last date of submission

Key Responsibilities

Collections

• Sole responsibility of targets basis allocated base on:

1. 
   
2. Renewal collection and persistency targets through customer calling or physical visits to customer residences with prior appointment
3. Ensure maintenance and sharing of daily customers' trackers and conversion thereof, including review with Manager-Collections
4. Convince customers and get renewal premium and policy continuation to continue insurance and giving retention tools like mode change/Partial withdrawal/PUA surrender/Loan etc.
5. Timely depositing the cheque at the nearest MLI branch/ bank branch within 24 hours of the cheque collection
6. Effectively handling customer escalations, 100% resolution of customer queries &  concerns including tracking of service requests raised, providing clarity to required customers on  special revival scheme,  change in term, short premium bucket  to resolve financial constraint and retain customers
7. Ensuring follow up on critical document like Health Declaration Form / tele underwriting/home visits medical/ ECS Mandate/ complaint letters on silent grief and obtaining new contact details getting update through branch operations

Measure of Success :

• 100% completion of assigned activities by 7th of every month
•  Completing daily face to face meetings as per goal sheet
•  Driving Top 30 high value cases with 100% meeting
•  Providing 100% resolution to customer's query
•  00% Tracking and timely closure of service request if logged for any of the allocated customers
•  Maximizing positive portfolio (Promise to Pay) by providing right advice to customers to continue insurance and giving retention tools like mode change/Partial withdrawal/PUA surrender/Loan
•  Driving Special revival scheme and change in term to resolve financial constraint
• By ensuring 100% meetings on silent grief cases
•  Collecting written grievance from the customer and getting it logged in system
• Percentage of customer retention from allocated base surrendering the polices by explaining insurance benefits, ulip retention tools, switching, long term growth, comparison with other financial products
• Conversion of non ECS base to E-NACH/ECS by explaining benefits of continuing policy on E-Nach/ ECS for huddle free payment
• Ensuring collection and registration along with necessary documents of auto pay mandates from customers on non auto pay

Desired qualification and experience

• Graduation in any stream with prior experience in insurance, customer services profile. Prior experience in renewal retention team is an added advantage

Knowledge and skills required

• Ability to handle pressure and work in a competitive environment. Open to learning, Very High Process orientation , Effective communication skills. Should have a personal vehicle and smart phone

Job Description

Position

Customer Retention Officer/ AM Customer Retention Officer

100

Department

Customer Retention Team

Function

Operations

Reporting to

Manager –Collections

Band

5

Location

Last date of submission

Key Responsibilities

Collections

• Sole responsibility of targets basis allocated base on:

1. 
   
2. Renewal collection and persistency targets through customer calling or physical visits to customer residences with prior appointment
3. Ensure maintenance and sharing of daily customers' trackers and conversion thereof, including review with Manager-Collections
4. Convince customers and get renewal premium and policy continuation to continue insurance and giving retention tools like mode change/Partial withdrawal/PUA surrender/Loan etc.
5. Timely depositing the cheque at the nearest MLI branch/ bank branch within 24 hours of the cheque collection
6. Effectively handling customer escalations, 100% resolution of customer queries &  concerns including tracking of service requests raised, providing clarity to required customers on  special revival scheme,  change in term, short premium bucket  to resolve financial constraint and retain customers
7. Ensuring follow up on critical document like Health Declaration Form / tele underwriting/home visits medical/ ECS Mandate/ complaint letters on silent grief and obtaining new contact details getting update through branch operations

Measure of Success :

• 100% completion of assigned activities by 7th of every month
•  Completing daily face to face meetings as per goal sheet
•  Driving Top 30 high value cases with 100% meeting
•  Providing 100% resolution to customer's query
•  00% Tracking and timely closure of service request if logged for any of the allocated customers
•  Maximizing positive portfolio (Promise to Pay) by providing right advice to customers to continue insurance and giving retention tools like mode change/Partial withdrawal/PUA surrender/Loan
•  Driving Special revival scheme and change in term to resolve financial constraint
• By ensuring 100% meetings on silent grief cases
•  Collecting written grievance from the customer and getting it logged in system
• Percentage of customer retention from allocated base surrendering the polices by explaining insurance benefits, ulip retention tools, switching, long term growth, comparison with other financial products
• Conversion of non ECS base to E-NACH/ECS by explaining benefits of continuing policy on E-Nach/ ECS for huddle free payment
• Ensuring collection and registration along with necessary documents of auto pay mandates from customers on non auto pay

Desired qualification and experience

• Graduation in any stream with prior experience in insurance, customer services profile. Prior experience in renewal retention team is an added advantage

Knowledge and skills required

• Ability to handle pressure and work in a competitive environment. Open to learning, Very High Process orientation , Effective communication skills. Should have a personal vehicle and smart phone