Operations Head- Insurance

Key Responsibilities1. Financial Goals- Drive operational cost optimization and improve productivity across insurance operations. - Ensure accurate premium accounting, reconciliation, and payout management. - Support revenue growth by minimizing leakages, errors, and TAT delays. - Track and improve policy issuance, renewals, and persistency metrics. - Partner with business and finance teams to meet budgeted targets and margins.2. Operational Goals- Oversee day-to-day insurance operations across Life, Health, Motor, and GI. - Ensure smooth policy issuance, endorsements, renewals, cancellations, and servicing. - Define and monitor turnaround time (TAT) and service quality benchmarks. - Act as the escalation point for critical operational and client issues. - Coordinate with sales, claims, finance, IT, and compliance teams for seamless execution.3. Process Goals- Design, standardize, and continuously improve SOPs and workflows across insurance verticals. - Drive automation and digitization of operational processes. - Ensure data accuracy and MIS governance for decision-making. - Implement process controls to reduce operational risk and dependency on individuals. - Lead process audits and corrective action plans.4. People Goals- Build and lead a centralized and regional insurance operations team. - Define roles, KRAs, and performance metrics for team members. - Drive employee engagement, productivity, and retention. - Coach and mentor senior team members and future leaders. - Foster a culture of ownership, accountability, and service excellence.5. Training & Capability Building- Identify training needs for operations teams across insurance products and processes. - Conduct regular product, system, compliance, and process trainings. - Ensure team readiness for new insurer tie-ups, product launches, and regulatory changes. - Collaborate with sales and POSP/SP teams for operational enablement.6. Compliance & Audit- Ensure full adherence to IRDAI regulations, broker guidelines, and internal policies. - Manage internal, external, and regulatory audits with zero or minimal observations. - Oversee documentation, reporting, and compliance MIS. - Act as the single point of contact for compliance escalations related to operations. - Implement audit observations and preventive controls.7. Insurance Company (IC) Relationship Management- Manage and strengthen relationships with insurance company partners. - Ensure service level adherence, issue resolution, and operational coordination with ICs. - Participate in business reviews, product discussions, and operational improvement initiatives with insurers. - Negotiate operational support, TAT commitments, and process enhancements.Key Competence & Skills requiredKey Competence- Strong understanding of insurance operations and broking regulations - Expertise across Life, Health, Motor, and General Insurance processes - Leadership, team management, and effective decision-making - Process improvement mindset with focus on automation and efficiencySkills- Analytical and problem-solving abilities - MIS preparation, reporting, and data interpretation - Operational planning and execution - Communication and coordination skillsThis position reports to- EVP - Insurance HeadAcademic requirements- Graduate or Post GraduateLocation- MumbaiExperience- 12+ years of experienceTeam handling experience- Yes

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