Role Title: Renewal Associate

Department: Renewal Department

Reports To: Retail Sales Head

Purpose of the Role:

The Renewal Associate plays a crucial role in the renewal process of insurance

policies. Their primary responsibility is to contact existing customers via telecalling

and ensure timely renewals. They contribute to maintaining a high retention rate and

fostering positive customer relationships.

Key Responsibilities:

Renewal Targets:

- Achieve a minimum renewal rate of 95% for assigned policies.
- Proactively contact policyholders nearing renewal dates to facilitate

timely renewals.

- Follow up with customers to address any concerns or queries related

to renewing their policies.

Cross-Sell and Up-Sell Leads:

- Identify opportunities to cross-sell additional insurance products to

existing customers.

- Upsell policy enhancements or higher coverage options based on

customer needs and preferences.

- Collaborate with sales and marketing teams to implement cross-selling

and upselling strategies effectively.

Customer References:

- Build solid relationships with satisfied customers to obtain referrals

and references.

- Encourage customers to provide positive feedback and testimonials for

use in marketing and promotions.

- Leverage customer references to enhance credibility and attract new

business opportunities.

Portability Facilitation:

- Assist customers in understanding the portability options available for

their insurance policies.

- Guide customers through the portability process, including

documentation and transfer procedures.

- Ensure a smooth transition for customers opting for portability while

maintaining customer satisfaction.





Competencies:

Skills (30%):

- Communication Skills: Clear and persuasive communication to engage

customers effectively.

- Negotiation Skills: Ability to negotiate terms and offers to encourage

renewals and additional purchases.

- Problem-Solving Skills: Address customer concerns and resolve issues

to ensure a positive experience.

Knowledge (25%):

- Insurance Products Knowledge: Understand various insurance

products and their benefits for effective cross-selling and upselling.

- Regulatory Knowledge: Stay updated on insurance regulations and

compliance requirements related to renewals and policy transfers.

- Customer Relationship Management: Implement strategies for building

and maintaining long-term customer relationships.

Traits (20%):

- Empathy: Understand and empathize with customer needs to provide

personalized solutions.

- Persistence: Follow up consistently to achieve renewal and sales

targets.

- Adaptability: Flexibility to handle different customer situations and

adapt to changing market dynamics.

Self-Image (15%):

- Professionalism: Maintain a professional image and conduct in all

interactions with customers.

- Confidence: Believe in one's abilities to achieve targets and provide

value to customers.

- Ethical Integrity: Uphold ethical standards and integrity in dealing with

customers and their policies.

Motive (10%):

- Goal-Oriented: Strive to meet and exceed renewal, cross-sell, and

up-sell targets.

- Incentive Driven: Respond positively to performance incentives and

rewards.

- Career Development: Seek opportunities for growth and advancement

within the insurance industry.

📌 Renewal Associate (India)
🏢 STS WEALTH
📍 India