1. Job Purpose
Formulate and regularly update MBAL’s persistency strategy, own and deploy it through a structured program/project (in collaboration with marketing, product development, sales and operations), addressing in a comprehensive way each of the factors driving the persistency score, to lift & keep persistency above the 85% threshold.
2. Key Responsibilities
- Renewal Collection Strategy Management - Manage all renewal premium collection related initiatives for MBAL
- To ensure high monthly collection based on the targets assigned on monthly basis. Maximum numbers of customers to be contacted within the given TAT through voice calls and SMS- s/ E-mails/Letters (wherever applicable) and required conversion as well.
- Rigorous follow-up and strong monitoring of renewals on all stages e.g. Premium Due/ Overdue/ Lapse/ Revival.
- Device strategy for better reach out to customers & reinstate maximum portfolio
- Implement engagement strategies with customers, sales/agents and operations to enhance renewal collection
- Implement and monitor quality metric for collections and quality outreach
- Facilitate inter-departmental linkages for effective delivery
- Identify current gaps in the process & facilitate decision making through data analytics and refined workflows
- Ensure delivery & track performance of listed initiatives under various projects.
- Attending to all operations/ sales related meeting and promote awareness on Persistency.
- Collection & Persistency target achievement
3. Qualification and Experience
University degree in sciences, economics, finance or equivalent
At least 03 years relevant working experience (in customer experience and customer service, preferably in life insurance)
4. Competency item
Description / Proficiency Level required
- Communication: Proactively draws up and distributes information, anticipating readers’ reaction
- Cooperative attitude: Promotes team spirit and solidarity and actively seeks cooperation, both inside and extending beyond the team itself.
- Customer orientation: Anticipates customers’ wishes, goes the extra mile and is regarded as a constructive business partner.
- Result orientation: Makes use of every opportunity to surpass the anticipated results and also encourages others accordingly.
- Learning capabilities: Seeks and creates learning possibilities for himself/herself to develop and to learn from and with others. Helps and motivates others to learn.
- Strategic thinking: Charts course within own professional area and provides ideas for the direction and development of the organization.
- Planning and organization: Plans, coordinates and direct various kinds of activities, both for himself/herself and for others. Works out systems or procedures that make it easier to achieve the goals.
- Change orientation: Encourages the necessary changes in own or adjoining professional areas and helps with their implementation.
- Entrepreneurship: Develops or encourages the development of new products/services on the basis of a good insight into market developments and the company’s strengths and weaknesses.
Design thinking: Understands and uses human centered design methodology, leads its rollout in the organization training colleagues and other managers, able to explain to and get buy in from key stakeholders.
CRM/ Case management platform: Experienced transactional CRM/ Case management practitioner, knows well not only the methodology, but also has hands on experience with (phased) implementation across all company touchpoints, including the analytics and closing the feedback loop.
Computer skills: PC literate in Windows Office (Word, Excel, PowerPoint)
5. Interpersonal Interactions
Internal:Manager of Customer Experience, Persistency and Loyalty Management
Other Operations teams and managers
Other MBAL domains: Marketing, Compliance & Legal, Sales (Agency, Bancassurance and other, new channels), Product Development, IT, etc.
msg/SAP and other software companies, agencies, MB Digital department, and other vendors and solution providers
Counterparts at MB, Ageas, MTL