TM-Mgr-CO Policy Srvcing-Thane

Aditya Birla Group

Thane, India

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Posted 23 hours ago
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Job Description

Job Purpose

Establish a multi-skilled team for providing single window service and delivering stringent turnaround times and accuracy parameters and also provide value added services to HNI customers and also to customers sourced by TPD and SVV Branches, by planning, organizing and managing policy servicing related aspects as per stipulated KPIs. Also, provide performance dashboards to select Bancassurance and TPD partners for building their confidence and strengthening the relationships strategically important for Birla Sun Life Insurance.

Job Context & Major Challenges

Job Context: Establish a multi-skilled team for providing single window service and delivering stringent turnaround times and accuracy parameters and also provide value added services to HNI customers and also to customers sourced by TPD and SVV Branches, by planning, organizing and managing policy servicing related aspects as per stipulated KPIs. Also, provide performance dashboards to select Bancassurance and TPD partners for building their confidence and strengthening the relationships strategically important for Birla Sun Life Insurance.

Job Challenges: . Keeping abreast of regulatory, product, policy and system changes.

. Safeguard against ever changing and increasing risks without affecting turnaround times which are critical from the perspective of customer sensitivity.

. Managing with frequently churning 60-70% outsourced staff and still delivering all KPIs and ensuring adherence to process and risk control measures.

. Dependencies on branches, spread across the length and breadth, to ensure process controls and to increase First Time Right resolutions and also ensure speedy service recovery in event of failures.

. Sudden spikes in volumes due to external reasons and market fluctuations.

. Managing Channel partner relationships and maintaining cordial relationship especially in times when their exceptions and demands cannot be met.

. Each channel partner /Bancassurance partner has different set up and profile of customers. Thus challenge is to understand the above servicing aspects and design and deliver appropriate service solutions.

Key Result Areas

	KRA (Accountabilities) (Max 1325 Characters)	Supporting Actions (Max 1325 Characters)
KRA1	Help build an excellent and consistent customer experience for long term engagement through differentiated service offerings to HNI customers and all customers sourced by Super Value Branches, Bancassurance and CABC partners leading to customer, advisor and distribution partners satisfaction, critical for enhancing customer engagement and retention for the entire gamut of policy servicing.	1. Create multi-skilled team for providing single window service to HNI and TPD sourced customers. 2. Achieve TATs, Accuracy and Productivity more stringent than normal KPIs with the same process through close monitoring. 3. Support Team Leaders in understanding and eliminating issues for timely processing and accuracy 4. Proper manpower allocation by analyzing the productivity report. 5. Coordinating with service providers, channel partners, IT, Accounts for seamless and hitch-proof service to customers. 6. Check if outliers are being resolved by Team Leaders and intervening wherever required for coordinating with Accounts, IT, Projects and UAT, Underwriting and Branches for fast tracking resolutions.
KRA2	Evaluation of exception and process deviation requests and decision / recommendations for approval / rejection.	1. In case, exceptions are required to be approved taking into account customer sensitivity, merits of the case and within the framework of the Company's rules and regulations, either approve or obtain approval as per delegation of authority. 2. Record such exceptions and report. 3. Convey rejections in a manner without affecting long term customer and advisor relationship.
KRA3	Initiate and implement value added services for HNI customers and customers of SVV Branches and preferred channel partners to deliver differentiated service offerings in line with the expectations varying with profile of the customers.	1. Interact with advisors and channel partners to assess their needs and feedback given on service levels and expected value added services. 2. Evaluate feedback and suggestions and make appropriate recommendations to Senior Manager. 3. Prepare and publish performance dashboards to select Bancassurance, Corporate Agents and Brokers 4. Ensuring adequate access to information is available to support teams and channel partners to improve FCR ratio thereby improving service standards.
KRA4	Team Management	1. Discuss and finalize Goals and KRAs of Team Leaders. 2. Review their performance periodically and suggest and monitor improvements. 3. Ensure that the key contributors are appreciated and recognized. 4. Thoroughly analyze teams performance in regular meetings, discuss and arrive at improvements in process adherence.
KRA5	Implement controls in the payouts and carrying out regular trend analysis to identify and plug process gaps.	1. Carry out verification of high value payouts within the approval limits of VP and above. 2. Review risk control measures and recommend changes in process if required. . 3. Report fraudulent/suspicious transactions with detailed analysis to Senior Manager for his inputs. 4. Carry out dip stick to check if payments are approved by authorized Managers & Executives, review if approval rights in the system commensurate with Financial Delegation of Authority and recommend changes in FDOA based on value and volume of payouts and tenure of employees. 5. Take steps for automating controls which are manual and random check on red flagged cases and report deviations to Senior Manager.