Branch Service Manager - Ops - Faridabad

Designation: Assistant Manager

Location: India Haryana ABHI-Faridabad

Organization: Financial Services

Job Description:

About the Health Insurance Industry –

While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalized service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as extensions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

About the Aditya Birla Health Insurance –

Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016.

ABHICL has entered the competitive health insurance market with an aim to the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of “Health Insurance for All”, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer’s experience of our proposition is continuous and seamless.

ABHI’s unique offering to market includes proposition includes -

A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy

A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1

ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.

ABHICL’s vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.

Challenges

Sales queries resolution in agreed timelines

Resolving Walk-in customer queries in time with satisfactory resolution

Resolving Active agent’s queries in time with satisfactory resolution

Coordination with COPS for sales and customers query resolution

Follow-up with sale for Issuance in agreed TAT

Third party processing unite management

Karvy processing management with utmost accuracy

Coordination with Medi assist for arranging and smooth performing customers medical

4) Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)

Key Result Areas

Supporting Actions

Carry out the receipting process accurately of fresh applications and renewal premium within timelines as per the set process.

Check applications/policies for payment.

Issue receipts for fresh application and renewal premium for individual, group and rural business.

Send original applications & related documents to H.O. /other designated agencies.

Follow the receipt cancellation process as & when required.

Carry out the banking and reconciliation process of policy cash/Cheque/DD as per guidelines.

Generate report for cash and cheque collection from system and reconciliation with physical instrument

Make accurate payment entry & system updation towards cash collections as and when cash premium is received.

Deposit cash and cheques with authorized bank and file deposit slip.

Co-ordinate with collection bank for any follow ups.

Solve reconciliation queries from HO

Inform H.O.-Banking team, if entire cash or cheque is not picked by bank/collection.

Handle petty cash and third party (vendor) and employee reimbursement as per guidelines.

Check vendor’s bill and process payment of vendors.

Handover cheques to vendor on time

Send petty cash requisition request to H.O.

Keep petty cash within the specified limit.

Maintain petty cash register

Send EERS and TERS payment vouchers to H.O.

Perform petty cash and vendor’s ledger reconciliation.

Handle the Advisor’s servicing in coordination with Distribution Management team as per guidelines.

Hand-over commission cheque to AM/advisor

Resolve commission queries of advisor in coordination with Distribution Management team as & when needed.

Co-ordinate with Distribution Management team & commission team at H.O. for any discrepancy.

Ensure timely receipts and hand-over of TDS certificate to advisors and dispatch the same to concerned team at HO

Handle the New Business log in at the branch as per the New Business and Underwriting guidelines to ensure high levels of input accuracy and support in enhancing the issuance to submission ratio.

Log in applications at branch and scrutinize as per New Business and Underwriting guidelines in a timely and accurate manner.

Scanning & In-warding of discrepant free applications for further processing & issuance.

Dispatch and track applications/ supporting documents to vendor/ HO in a timely manner.

Coordinate in facilitating medical management in coordination with sales force, PPMC team and medical service providers for faster medical tests by customers and faster movement of medical reports so as to reach underwriting team in least possible time.

Highlight cheque dishonor, free look and cancelled applications to the sales force.

Coordinate with head office process owners/vendors to facilitate faster decision and better internal / external customer service through faster issuance of policies.

Support co- team members and sales force on new business and underwriting guidelines for smooth functioning of entire operations value chain

Ensure local dispatch / hand delivery of undelivered policy documents forwarded to the branch.