Operations Manager Brief

4 days ago

Mumbai, Maharashtra, India Coversure Full time ₹ 9,00,000 - ₹ 12,00,000 per year

Role & responsibilities

  1. Policy & Partner Operations

  2. Manage end-to-end backend operations for:

  3. Group Health Insurance (GHI) programs.
  4. Credit Life Insurance programs with banks, NBFCs, and fintech partners.
  5. Coordinate with insurers for policy issuance, endorsements, member

additions/deletions, and renewal processing.

  • Liaise with business partners to ensure timely receipt and validation of data for policy

administration.

  1. Premium Reconciliation & Financial Control

  2. Reconcile premium collections, float accounts, and CD balances (Collection Deposit /

Current Deposit) with insurers and partners.

  • Maintain an accurate record of premiums collected, remitted, and pending to ensure no

financial leakage or delay.

  • Monitor the float balance utilization and ensure timely top-ups based on business

activity.

  • Work closely with finance teams for audit readiness and monthly closing.

  • Process Oversight & Audit

  • Define, document, and monitor operational SOPs for all insurance processes.

  • Conduct periodic process audits to identify discrepancies, gaps, or inefficiencies.
  • Establish a mechanism for transaction-level verification of issued policies and

payments.

  • Support internal and external audits with reconciliations, reports, and control

documents.

  1. Coordination with Sales & Business Teams

  2. Work closely with the sales and business development teams to ensure operational

readiness for each partner or policy launch.

  • Review data shared by the sales team for accuracy before submission to insurers.

  • Provide operational inputs during new partner onboarding or process setup.

  • Reporting & MIS

  • Maintain detailed MIS on:

  • Policy issuance and renewals.
  • Float account movements and reconciliation status.
  • Business operations KPIs (TATs, accuracy rates, etc.).
  • Prepare monthly operational dashboards for management review.

Key Requirements

Experience & Background

  • 3-7 years of experience in insurance operations, preferably in group insurance, credit

life, or partner-based insurance distribution.

  • Strong understanding of insurance operations lifecycle from proposal to issuance,

reconciliation, and renewal.

  • Experience in reconciliation and financial operations involving multiple stakeholders

(banks, insurers, or TPAs).

  • Exposure to working with insurtech, brokers, or corporate intermediaries will be a strong

advantage.

Skills & Competencies

  • Excellent analytical and numerical skills for reconciliation and audit control.
  • Strong process orientation with attention to detail.
  • Proficiency in Excel and operational reporting tools.
  • Ability to collaborate cross-functionally with sales, finance, and tech teams.
  • Strong communication and documentation skills.
  • Ability to multitask and manage priorities in a dynamic environment.

Preferred Qualifications

  • Graduate / Postgraduate in Commerce, Finance, or Business Administration.
  • Knowledge of IRDAI operational compliance and reporting requirements.
  • Experience with insurer portals, and policy management systems.

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