Location: Mumbai

Job Summary

The role will be responsible for efficiently leading operational activities of BFL / Hero Fincorp / Godrej Group Operations and ensure that the same is delivered with adherence to all statutory, regulatory and internal guidelines. The role will be required to ensure optimum usage of technical and human resources to support the planned business growth in accordance with the agreed business strategy.

Dimensions

- Manage Transactions : MPH Creation COI Issuance Partner Servicing Cancellation and Refund Transaction settlements Recon COI Communication BG / CD Statement Recon Transaction sharing with TPA Project ( System Go Live ) Adherence to SLA : 100%
- Span of the role All digital partners such as BFL / Hero Fincorp / Godrej etc. Insurance Products coverage: Indemnity Business Type; New Business and Renewal Active engagement with Partners internal external stakeholders.
- Systems BPM : HealthBuzz , Jarvis Partner Portals CRM
- Processing Paramete% adherence with Standard SLA Maintaining industry best TAT and Accuracy level. Optimum capacity utilization Issuance: T Endorsement: T CRM: T Cancellation Refund: T+1 Cost reduction on Policy Printing Dispatch Project Digitization / Automation
- Vendor Management Coordinate with all associate Partners / vendors and ensuring all business transactions are carried basis set SLA s 100 % adherence with SLA
- Cost Effective Operations Periodic review of Operational cost including communication considering premium in nature
- Projects Leading Executing all projects and system developments (Mission Transformation)

Job Context Major Challenges

Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business / Unit / Function / Department / Section

About the Health Insurance Industry While the current market sees more than 15 nonlife players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalized service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,



000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the chance of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the startups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities With the advent of medical advancements, lifestyle changes, change in Indian socio economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as extensions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

Key Challenges Currently majority of business processes are manual and manpower dependent, hence urgent need of digitizing the operations, customer servicing and experience. Constant updation on process and procedures are required to provide the unified experience to customer and partners. Managing very large no of insured lives and corresponding transactions recons with available Technology bandwidths. Inter departmental dependencies for customer resolution. Manage unplanned spike in the volumes with available manpower and technology bandwidths.

Key Result Areas





- Group Business Operations
- Ensure TATs Accuracy targets of transactions while maintaining the regulator/company guidelines.
- Review process regularly and ensure that the changes are implemented.
- Liaise with distribution partners for periodic reviews and process alignment
- Ensure process and system reference manuals in place.
- Ensure publications and verification of all transaction reports on defined period.
- Coordinate and ensure that the system requirements are as per product and compliance guidelines
- Coordinating with the multiple stakeholders in the organization including Sales, Underwriters, IT, Legal, Fice to design a process as per the partner s requirements
- Identify and ensure that the Customer satisfaction parameters are measured and monitored for improvement
- Work closely with distribution team and channel partners in designing new processes for business acquisition.

Job Purpose of Direct Reports
- Assistant Manager : Ensuring Policy Issuance and COI communication
- Assistant Manager : Ensuring Transaction recon and settlement / Servicing

Relationships

Describe the nature and purpose of most important contacts or relationship (except superior/team members) with individuals, departments, organizations inside and outside of the organization, that job is required to interact with in order to deliver the job objectives

- Internal
- Fice Underwriting Claims Complaints and grievance
- Contact Centre
- Sales
- IT
- Compliance
- Marketing
- MPH
- Setup Policy Issuance, Cancellation Refunds
- New partner Onboarding
- Tech support
- Regulatory compliance
- Customer Communication

- External

- Distribution partner and vendors
- Service Vendors

Organizational Relationships

Provide the structure for a level above and below the position for which this job description is written. Use position titles in the structured and indicate all the reports of the position

Disclaimer: This job posting has been aggregated from external source. Role details, content, and availability are subject to change. Applicants are advised to confirm the latest information directly on the company website before applying.

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