Associate Manager – Business Operations, Health Insurance

28 Minutes ago • 5 Years +

Job Summary

Job Description

The Associate Manager - Business Operations, Health Insurance role involves optimizing operational processes, improving efficiency, and contributing to the company's success. Responsibilities include analyzing data to identify trends, optimizing processes, monitoring KPIs, managing risk, collaborating with teams, utilizing software tools, documenting processes, and project management. The role requires understanding the insurance industry, team collaboration, basic know-hows, data analysis, and communication skills. The role requires a strong analytical mindset, excellent problem-solving skills, and the ability to collaborate effectively with cross-functional teams.
Must have:
  • Industry experience in Health Insurance.
  • Work experience in Operations in a fast-paced environment.
  • Strong analytical skills to interpret complex data.
  • Proficiency in data analysis tools like Excel and SQL.
  • Excellent communication skills for stakeholders.
  • Detail-oriented with ability to work independently.
  • Skilled in building and managing business alliances.
  • Strong problem-solving skills and proactive attitude.
Good to have:
  • Knowledge of insurtech trends and emerging technologies.
Perks:
  • Insurance Benefits - Medical, Critical Illness, Accidental, and Life Insurance.
  • Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System.
  • Parental Support - Maternity, Paternity, Adoption, and Day-care Support Programs.
  • Mobility Benefits - Relocation, Transfer Support Policy, and Travel Policy.
  • Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment.
  • Other Benefits - Higher Education Assistance, Car Lease, and Salary Advance Policy.

Job Details

About PhonePe Group: 

PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

Culture

At PhonePe, we take extra care to make sure you give your best at work, Everyday! And creating the right   environment for you is just one of the things we do. We empower people and trust them to do the right   thing. Here, you own your work from start to finish, right from day one. Being enthusiastic about tech is a   big part of being at PhonePe. If you like building technology that impacts millions, ideating with some of   the best minds in the country and executing on your dreams with purpose and speed, join us!

Job Summary: 

Associate Manager – Business Operations, Health Insurance 

Position Overview: 

We are seeking a detail-oriented and analytically skilled Operations SME to join our dynamic team in our innovative insurance tech company. The Associate Manager will play a pivotal role in optimizing our operational processes, enhancing efficiency, and contributing to the overall success of the company. This role requires a strong analytical mindset, excellent problem-solving skills, and the ability to collaborate effectively with cross-functional teams.

Role 

  • Opportunity to work on insurance related initiatives with key stakeholders of the Insurance industry in the country 
  • Collaboration with internal teams- product, business finance, customer service, etc to monitor and manage the category daily 
  • Monitor business application dashboards and anomaly detection systems for issues and errors 
  • Identify root causes of errors and investigate their impact on business operations ● Analyze and provide insights on issue fixes to reduce business loss 
  • Understand the current process, find areas of improvement to Improve the overall business performance 
  • Collaborate with cross-functional teams to drive issue resolution and provide updates on issues and fixes. 
  • Coordination with external partners and vendors to ensure a smooth flow of business ● Responsible for defining, developing and communicating key metrics and business trends to partner and management teams. 
  • Creation and maintenance of documentation related to processes, issues, and solutions. 
  • Grasping the underlying processes and data flows and should be able to analyze and work on the errors 
  • Liaison with partner insurance for day to day business operations and act as a bridge between partner SPOC’s and internal business, product & tech team. 
  • Involvement in automating the processes and MIS 
  • Work with data to help grow the business through interventions on product and technology 

Responsibilities: 

  • Data Analysis: Conduct in-depth analysis of operational data to identify trends, patterns, and areas for improvement. Translate data insights into actionable recommendations to drive operational efficiency and strategic decision-making. E.g., Creation of monthly / weekly reports to drive business decisions 
  • Process Optimization: Collaborate with various teams to evaluate current operational processes, identify bottlenecks, and propose and implement process improvements to enhance productivity, reduce errors, and streamline workflows. 
  • Performance Metrics: Develop and maintain key performance indicators (KPIs) to monitor operational performance. Regularly report on KPIs and provide insights to management to drive data-driven decision-making. 
  • Risk Management: Assist in identifying potential operational risks and gaps in processes. Work closely with risk management teams to implement solutions that ensure compliance and mitigate risks effectively.
  • Cross-Functional Collaboration: Collaborate with teams such as underwriting, claims, customer service, and technology to gather insights, share best practices, and implement initiatives that optimize operations across the organization. 
  • Systems and Tools: Utilize various software tools and systems to extract, analyze, and visualize data, automating reporting processes wherever possible to improve efficiency. 
  • Documentation: Maintain accurate and up-to-date documentation of operational processes, guidelines, and procedures. Ensure that documentation is easily accessible to all relevant stakeholders. 
  • Project Management: Lead or participate in projects aimed at enhancing operational efficiency, which may involve coordination with different teams and stakeholders. 

Ideal Candidate should have: 

  • Industry experience in Health Insurance 
  • Understands how Insurance industry works, team collaboration, basic know hows ● Have work experience in Operations in a dynamic and fast paced environment ● Strong analytical skills with the ability to interpret complex data and draw actionable insights. 
  • Proficiency in data analysis tools such as Excel, SQL, and data visualization tools ● Excellent communication skills to convey insights and recommendations to both technical and non-technical stakeholders. 
  • Detail-oriented mindset with the ability to work independently and collaboratively within a team. 
  • Be skilled in building and managing business alliances 
  • Strong problem-solving skills and a proactive attitude toward identifying and addressing operational challenges. 
  • Thrive in a competitive and a result-oriented work environment 
  • Knowledge of insurtech trends and emerging technologies is a plus. ● 

Qualifications: 

  • Bachelor's degree in Engineering, Business, Finance, Operations Management, or a related field. Master's degree is a plus. 
  • Proven experience (5+ years) in an operations analysis or similar role within the insurance or financial services industry 

If you are a motivated and analytical professional looking to make a meaningful impact in the insurtech space, we encourage you to apply and become part of our dedicated team. Please submit your resume and a cover letter detailing your relevant experience and how you can contribute to our company's success.

PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)

  • Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
  • Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
  • Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
  • Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
  • Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment 
  • Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy

Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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About The Company

PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 48 crore (480 Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized 3.6 crore (36 Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% of the postal codes across India. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2023 by Trust Research Advisory (TRA).



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