Bajaj Allianz General Insurance Company Hiring for Lead Renewals Health at India, India Full Time

Job Description

:

Renewal Management

• Data lead conversation basis renewal business opportunities across the locations to be done on set frequencies with Businesses/IMDs.
  Monitoring team’s engagement activities with the IMD’s and give inputs to the team to plan activities for the IMD’s with a focus on increasing the retention ratio
  Engage with IMD’s & share renewal MIS/stats/retention ratio, along with business representatives and find opportunities for continual revenue for Health Vertical
  List inactive IMDs and take necessary steps to revive them by highlighting to sales team.
  Ensure on a monthly basis that RR and RN download is happening through SPOCs of Respective Zones and Renewal Notices received to IMDS on a defined TAT.
  Driving Renewal Business based on Ticket size to ensure higher RR on higher ticket to ensure Revenue generation for Health vertical

Market Feedback

• Collect market intelligence pertaining to renewals by direct interaction with the business intermediaries
  Identify reasons for loss of business and collect useful inputs/suggestions for improvement coming from the market
  Regularly engage with intermediaries to maintain healthy working relationships
  Gather inputs from intermediaries on challenges related to BAGIC’s systems and processes and accordingly suggest improvements that can be carried out internally
  Survey the market to study best practices and latest launches by competitors; corroborate findings with relevant facts and figures

Process Fixation:

• Resolving the issues identified for ensuring smooth process flow for Renewal conversions
  Based on ground feedback coordinating with internal stakeholders such as Operations, Underwriting, Finance, Claims, Renewals team to get process fixed which provide Renewal ease to distribution
  Maintaining tracker and running projects based approach for resolution of issues – tracking, monitoring.
  If any issue resolution requires system development, raising IT calls for the same, defining the requirement, performing UAT and get the requirement deployed.

Business Growth & Planning

• Drive the retention strategy by providing enablers to Health Vertical to increase their renewals ratio and achieve set renewal targets
  Driver the retention strategy for Health LOB as a whole across channels to increase their renewals ratio and achieve set Renewal Target
  Tracking the conversion of renewal leads passed on to sales teams and IMDs until conversion
  Analyze the data – follow the 80-20 rule – for each vertical/channel to identify priority segments to focus on and grow renewal opportunities
  Periodically review the status of renewal opportunities to ensure customers are being contacted on time for renewals

Reporting & Analysis

• Analyze monthly performance of the renewals team in the region and share the reports with the vertical heads.
  Analyze the trend of the Renewal Ratio across parameters such geographies, products, verticals, Sum Insured bands, Age, etc
  Analyze IMD wise Renewal ratios across multiple periods
  Identify root cause behind the trends analyzed and ensure timely intervention wherever required to positively impact the Renewal Ratio

Telecalling Calling Management and coordination for Customers and Agents for Renewals:

• To ensure monthly calling to customers on Renewals Data for Health Vertical by the callers in Renewals Team
  To support Renewals Team wherever required to ensure timely conversion
  To ensure that hot leads as sent by Renewal Team flow to the concerned Zonal Heads and Branch Manager and are converted and tracked
  To overview the monthly activity of calling agents for driving Renewals
  To ensure that the data derived from such calling is further circulated to the sales team on the ground for action

Periodic Reviews:

• To drive periodic reviews of the Sales Team of Health Vertical along with the Health Vertical NHOD with respect to Renewals
  To provide data and prepare presentations as may be necessary for such reviews
  To enable reviews of the Sales Team of other verticals along with respective channel heads with respect to Health business renewal by providing data as may be necessary

Department :
HO

Open Positions :
1

Skills Required :
? Comprehensive understanding of Insurance industry ¬ ? Thorough knowledge of sales and renewals business ? Understanding of Health Insurance business ? Experience of dealing with agents and IMDs Good communication and team skills

Location :
HO

Education/Qualification :
Graduate/ Post Graduate/ Master Degree

Desirable Skills :
1.Good communication skills. 2.Flexible & adaptable to change. 3.Well versed with MS Office. 4.Should have good analytical and problem-solving skills.

Years Of Exp :
8 to 10 Years

Posted On :
10-Dec-2021

Designation :
Lead Renewals-Health