About the role
About Us
Bandhan Life is your trusted partner in financial security, making every Indian household financially secure. As a part of the renowned Bandhan Group, we are bolstering our collaborative strengths of digital innovation and robust distribution to enhance the value for all our stakeholders. Welcome to a new era of insurance, where growth, innovation, customer, and employee welfare are paramount.
Key Responsibilities:
1.Claims Management: Managing Individual rider claim & Group Affinity claims, ensuring all genuine claims are paid accurately and speedily to provide seamless experience to the claimant
2. System development: Accountable for ensuring the development of system functionalities, providing clear, detailed user stories and requirements for functionalities needed to ensure the smooth operation of claim processes. This helps drive automation, eliminate manual interventions, minimizing the risk of errors, and ensure compliance with product terms and conditions as well as regulatory requirements.
3. Stakeholder management: Connect with CMO/Underwriting/ Legal/ Finance/Customer Service/IT as required for claim processing for seamless experience to customer during entire claims journey
4. Re-insurance management: Managing Reinsurance support and co-ordination for processing and settlement of Claims and for Reinsurance reporting
5. Audit management: Accountable for managing all audits related to the claims function, including providing comprehensive process walk-throughs and detailed requirements to auditors. This ensures transparency, adherence to internal controls, and compliance with regulatory and audit standards.
6. FFA Migration: SPOC for migration- related activities, responsible for sharing detailed requirements, test cases, artefacts testing as well as conducting thorough testing and providing sign-off to ensure smooth system migration and accurate claim processing
7. MIS management: Accountable for sharing monthly claims reports with Finance and Actuarial teams, monthly reconciliations with the Finance team to ensure data accuracy for financial and regulatory reporting. Ensure timely and accurate preparation and submission of financial and regulatory reports, maintaining full compliance with all regulatory requirements to avoid discrepancies or escalations from regulatory bodies
8. SOP management: Ensure functional SOPs are always updated with the claim processes.
9. People management: Responsible to train team members for claim processing skills, impart domain knowledge and provide assistance to enable them to effectively execute their roles and responsibilities
10. Reporting management: Responsible for the automation and availability of data fields on QuickSight, ensuring claims data is readily accessible for analysis and presentation to key stakeholders. This enables meaningful insights into the volume, trends, and types of claims received by the organization. 11. Product development: Responsible for sharing detailed requirements as per product specifications to product team. Responsible for co-ordination with IT for development of Day 2 product features
Qualifications & Competencies:
·Any Graduate/ Post-Graduate with 5-8 years of experience in claims from life insurance industry
·Communication: Excellent verbal and written communication skills