Acko Looking For Product & UW compliance at Bengaluru, Karnataka, Full Time

ACKO is India’s first and only fully-digital Insurtech (product) company to have taken insurance by storm. You might have seen our cool ads or are already a customer and we hope you have noticed how we are rewriting the rules of the insurance game constantly and persistently.

Based out of Bangalore, we are solving for the Indian market. But we are a part of a global wave of insurtech startups such as ZhongAn in China , Oscar, Lemonade, Metromile in the US, that are known to succeed owing to their business models and technology.

We are a unicorn backed by a slate of marquee investors like Binny Bansal, Amazon, Ascent capital, Accel, SAIF, Catamaran, General Atlantic and Multiples. In only four years since our inception and operations, our products have reached ~75M unique users. We have partnered with some of the biggest names of the digital ecosystem such as Amazon, Ola, RedBus, Oyo, Lendingkart, ZestMoney, GOMMT group etc.

At ACKO, job roles are focused at impact and we’re here to transform the way the industry operates. Innovation drives us and our products, and we are poised to disrupt insurance, powered by our pioneering products. We have changed the landscape of this age old sector in a growing economy like India and have miles to go from here.

After having crossed the $1B valuation mark, our eyes set on even bigger milestones. If you think we’re just about growth and numbers, employee wellbeing lies at the core of all our programs and policies. We are a regular ‘Great Place to Work’ winner and consistently feature on Linkedin’s list of top startups. Currently 1000 strong, we are hiring across all functions.

Job Description

Product Filing

• Prepare filing documents in compliance with the Guidelines and other regulatory requirements.
• Ensuring cross functional liaison for product filing with Underwriting, Actuarial, Compliance, Legal, Claims etc.
• Ensure accurate and timely submission of product related filings to regulatory authorities and elsewhere
• Respond to regulatory queries related to filed products.
• Manage Internal and external reporting relating to products.
• Build/Enhance compliance monitoring systems

Underwriting Compliance:

• Proactively identify and document potential areas, compliance risks and partner with business and

stakeholders to formulate plans to mitigate and safeguard the organisation from regulatory non-

compliance risks.

• Manage Regulatory Change Management by carrying out Impact Analysis of new laws and regulations

and ensure their dissemination and implementation by the various functions.

• Monitor and assess the Company’s compliance status through periodic process reviews on a sample

basis.

• Work on end-to-end product cycle from conceptualisation to launch of the product.
• Conduct a Market Research of the products available in the market.
• Ensure regulatory compliance checks through Self-Assessment modules and by conducting

Compliance Risk Assessment activity

• Review all compliance related policies and SOPs on periodic basis
• Represent the Compliance Function in various internal and external meetings and forums.
• Ensure Compliance to U/W and issuance policy and procedures, product F&U, etc
• Ensure periodic quality check of the processes including system based and related data upkeep
• Enrollment and documentation relating to intermediary management
• Communications management with stakeholders around underwriting and issuance, in-cluding banks,

E-repositories, hospitals, TPAs, government departments such as RTO, etc

• Liaise with F&A to ensure compliance to Stamp duty and GST relating to U/W and issu-ance
• Conducting quality review of data, and information, which are relating to processes con-cerning the

underwriting and issuance. Reconcile data and record the differences in the usable formats.

• Have insight into the entire business structure including all IT infrastructure. Understand the

criticality of process under the light of overall business objectives.

• Produce periodic and adhoc reports for regulatory bodies and key stakeholders.
• Understand the various data definitions and terminologies and educate the stakeholders such as DB

and Tech, as required.

• Handle half yearly technical audits and other auditors; provide essential info and main-tain audit trails.

Job Description

• A self-driven individual with 6+ years of experience in managing UW compliance in a General

insurance company

• Ability to navigate dynamic and changing environment which is staple to startups
• Develop strong working relationships across the various verticals within the organisation
• Understanding of work and communication flow. Knows how to take things to logical closure.
• Effective and agile responsiveness to adhoc business needs relating to the KRA.
• Understanding of DB development, maintenance, reporting and data analytics
• Reconciliation of Data and Data Bases
• Effective upkeep of data, doc, and info and timely retrieval.
• Liaise with DB and tech teams to ensure timely and complete reporting.
• Strong analytical ability, including network and network systems design, capacity planning, operations

methodology, error detection/resolution techniques, quality assurance techniques, etc.

• IT Savvy