Job Summary

This role is responsible for empowering the retail vertical through analytics and reporting for critical business decisions. This role also responsible for coordination on all retail initiatives with key stakeholders within and outside the vertical. The role is also a central SPOC for coordination on audit findings and implementation.

Job Context & Major Challenges

The insurance industry of India consists of 58 insurance companies of which 24 are in life insurance business and 34 are nonlife insurers. In addition to these, there is sole national reinsurer, namely, General Insurance Corporation of India (GIC Re) however several Foreign Reinsurance Branches (FRBs) like Munich Re, Swiss Re, Hannover Re have also set up their offices in the recent years. Other key stakeholders in Indian Insurance market include agents (individual and corporate), brokers, surveyors and third party administrators servicing health insurance claims. From the above, insurance brokers are the only channel, which represents the customers and not insurers. This unique role of the broking channel is recognized by the regulator, insurers and customers. The Indian insurance market is a huge business prospect waiting to be harnessed. India currently accounts for less than 2 % of the world s total insurance premiums (2018). The country is the tenth largest insurance market in the world (2018) in terms of premium volume. In terms of insurance penetration in 2018 (Premium placed to GDP of the country) India stands at 0.97% against the global average of 2.78% which is not only below advanced nations like USA (4.26%) and Switzerland (4.1%) but also emerging economies like Taiwan (3.4%), China (1.9%), and Malaysia (1.45%). This shows the tremendous growth potential the nonlife insurance market promises in the coming years.





This role will also be responsible for internal audits supporting the Sales team of Retail vertical and coordination for monthly and quarterly review meetings. Preparing various dashboards and monthly/quarterly analytics reports to Zonal, Regional teams and KPHs.

Enabling Skill Sets & Qualifications

- Critical skills required for this role include an understanding of business processes and systems in the insurance industry
- Proficiency in MS Excel and presenting data
- Process and detail orientation
- Analytical and problem solving skills
- Stakeholder relationship management
- The education and experience required to meet this profile is a Graduate / Post Graduate (MBA preferably) with around 45 years of work experience preferably in the ficial/Insurance services domain.

Key Result Areas (KRA) / Accountabilities

- KRA1 - Support / Coordination for Strategy/Planning: Supporting the business head by analyzing and identifying trends to help in building strategy.
- Facilitating periodic reviews for Sales & Support functions
- Support business head in analysis of planning & budgeting activity
- Report generation on industry trends/LOB opportunities for reviews
- Support on various initiatives, industry updates for BRC, Board, senior management reviews
- KRA2 - Data Analytics & Dashboard: Publish trend analysis on various business levers to Zonal, Regional & Business Head.
- Central repository for all business data & retail initiatives
- KRA3 - Audit Management: Central SPOC for Internal & external audits and quality initiatives.
- He/she has to support business head in implementation of audit findings

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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