Key Responsibilities:
1. Persistency Management:
• Monitor and analyse persistency ratios regularly to identify trends and areas of improvement.
• Develop strategies to enhance policy renewal rates and reduce lapses.
• Implement retention initiatives to maintain long term client relationships.
2. Data Analysis and Reporting:
• Analyse policy data to identify at risk policies and develop targeted interventions.
• Prepare detailed reports on persistency metrics, presenting insights to senior management.
• Track and report performance against targets and benchmarks.
3. Team Leadership and Collaboration:
• Collaborate with sales to drive collections across the sales hierarchy and improve persistency rates with special focus on specific markets. Visit Bank Branches/ customer visits to improve Persistency.
• Conduct training sessions to enhance the team’s understanding of persistency best practices.
4. Customer Engagement and Retention Strategies:
• Design customer engagement programs to encourage timely renewals.
• Address customer grievances related to policy lapses and assist with reinstatement processes.
• Implement proactive communication strategies to remind clients of upcoming renewals.
Key Responsibilities:
The role involves leading and managing projects aimed at improving customer retention, policy renewal rates, and overall persistency metrics. This includes analyzing data, developing strategies, implementing initiatives, and collaborating with cross-functional teams to enhance customer loyalty and minimize lapses or cancellations.