Job Summary

IndusInd Bank has a vacant job position of Insurance Retention and Business Quality and requires applicants to be employed as Full Time at their office in Gurugram, Haryana, IN. The employment information should be reviewed and analyzed in detail.

Job Title: Insurance Retention and Business Quality
Company Name: IndusInd Bank Job Location: Gurugram, Haryana, IN Job Type: Full Time Job Category: Banking Job Link Expiry: 2024-01-03 Posted on: Joblexus.xyz

Job Details:

About the job

Experience: 8-12 years

Position Reporting to – Head : Wealth Distribution

Location: Gurgaon

Required Skill-set
• Understand broad construct of Insurance Sector (Life / Health /GI products)
• Banking/NBFC exposure managing insurance relation
• Process and Product knowledge of Insurance Renewal and New business
• Ability to take up digital process enhancement
• IT Skills ( PPT , Analytics , Excel)
• Good Interpersonal Skills and Team management
• Excellent knowledge of customer service processes
• Strong target and result orientation
• Ability to manage agitated customers
• Customer orientation

JOB SUMMARY
• Lead & manage all Renewal income related existing process for the Organization
• Suggestion and implement industry best practice and renewal and NB process
• Devise engagement strategies with customers, Bank sales team, Partners to enhance renewal income.
• Process enhancement to improve business quality
• IRDA certification of Branch sales Team
• Insurance complaint management and resolution

Detailed Responsibilities:

Program Management

Renewal : Define and implement the end to end strategy for renewal collection through internal resources supplemented by outsourced partners with the following objectives:

o Maximize collection from the available portfolio and set industry benchmarks

o Rigorously monitor 13th month and start demonstrating visible improvements in each of the persistency buckets

o Maximise collections in same month due and within 30 days from due date

– High level of collaboration with all stakeholders (across all channels and within operations)

o Clearly define ownership and monitoring process with each of the channels keeping in view the specificity of the channels and their operating models

o Regular reviews with channels and agree on actions that will result in improvement in renewal collection efficiency especially on the 13th month portfolio

Complaints : Track and Resolve all insurance complaints with TAT. Special attention is required for MD and Sr management escalated cases. Follow up with MOG for employee action in ref to complaints received during the quarter

IRDA certification : Ensure all RMs and Branch manager sourcing insurance are certified ( composite license). Resolve all transactional issues in IRDA certification and ensure timely release of NOC to resigned employees.

Process Enhancement for Business Quality: Review industry best practice for renewals / NB and implement the same for improving business quality. Ensure all Renewal and Quality dashboards are published at agreed timelines