Associate Manager - Life Insurance

1 Month ago • 1-3 Years

Job Summary

Job Description

As an Associate Manager for Life Insuretech at PhonePe, you will build relationships with business partners and streamline insurance issuance. Key responsibilities include facilitating the issuance process, negotiating underwriting rules, contributing to business growth strategies, optimizing sales experiences, and ensuring zero business loss through process enhancements. You will also identify and address issues, stay abreast of industry trends, manage team members, and drive continuous improvement. Additionally, you will collaborate with internal teams, analyze root causes of errors, drive process automation, and define key metrics to drive business growth. This role involves frequent visits to partner locations.
Must have:
  • Background in Life Insurance and Insurance technology
  • 1-3+ years of experience in Life Insurance operations/business
  • Strong analytical and communication skills
  • Proactive problem-solving attitude
  • Ability to manage stakeholders
Good to have:
  • Master's degree is a plus
  • Experience in team leadership
  • Advanced proficiency in Microsoft Excel & Google Sheets
  • Basic knowledge of SQL
  • Candidates from Tier 1/2/3 colleges
Perks:
  • Insurance Benefits - Medical, Critical Illness, Accidental, Life Insurance
  • Wellness Program - Employee Assistance Program, Onsite Medical Center
  • Parental Support - Maternity, Paternity, Adoption Assistance, Day-care
  • Mobility Benefits - Relocation, Transfer, Travel
  • Retirement Benefits - PF, Gratuity, NPS, Leave Encashment
  • Other Benefits - Higher Education Assistance, Car Lease, Salary Advance

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 Title: Associate Manager – Business Operations, Life Insurance 

Location: Pune- Work on all days from PhonePe Office 

Job Description

We are seeking a highly motivated and dynamic individual to join our team as an Associate Manager for Life Insuretech. In this role, you will be primarily responsible for fostering strong relationships with our business partners and driving initiatives to streamline our insurance issuance process. Your expertise in life insurance operations and keen negotiation skills will play a pivotal role in ensuring seamless customer experiences and minimizing business loss. 

Key Responsibilities: 

  • Interact closely with business partners to facilitate the issuance process effectively. ● Lead negotiations with partners to streamline underwriting rules, ensuring inclusivity for all customers. 
  • Demonstrate comprehensive knowledge of the life insurance industry to contribute to business growth strategies. 
  • Maintain open communication channels with underwriting and business teams to optimize sales experiences. 
  • Employ a meticulous approach to ensure zero business loss through process enhancements. 
  • Implement structural improvements with a customer-centric focus. ● Identify and address issues within the customer journey, negotiating process changes with partners. 
  • Stay abreast of industry trends and competitor USPs to drive process enhancements. ● Manage team members, oversee day-to-day operations, and drive continuous improvement. 
  • Visit Partner locations frequently to build relationships and streamline processes Additional Responsibilities: 
  • Collaborate with internal teams to monitor and manage daily category operations. ● Analyze root causes of errors and provide insights for issue resolution. ● Drive process automation initiatives and management information systems (MIS). ● Liaise with external partners and vendors to ensure smooth business flow. ● Define, develop, and communicate key metrics and trends to management teams.
  • Create and maintain documentation related to processes, issues, and solutions. ● Utilize data analysis to drive business growth through product and technology interventions. 

Ideal Candidate Profile: 

  • Must have a background in Life Insurance and Insurance technology. ● Bachelor's degree in Business, Finance, Operations Management, or a related field (Master's degree is a plus). 
  • 1-3+ years of proven experience in operations/business within the Life Insurance industry. 
  • Strong analytical skills with the ability to interpret complex data and derive actionable insights. 
  • Exceptional written and verbal communication skills for effective interaction with business partners. 
  • Proactive problem-solving attitude toward operational challenges. ● Ability to effectively manage internal and external stakeholders. 
  • Experience in team leadership is advantageous. 
  • Advanced proficiency in Microsoft Excel, Google Sheets, and basic knowledge of SQL. ● Team experience is a plus. 
  • Candidates from Tier 1/2/3 colleges are encouraged to apply. 
  • Willingness to travel to Partner locations. 

Join us in revolutionizing the insurance industry and making a positive impact on the lives of our customers

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.

Life at PhonePe

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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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