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
1. 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)
2. Competencies - Behavioral
- Proactively draws up and distributes information, anticipating readers’ reaction
- Promotes team spirit and solidarity and actively seeks cooperation, both inside and extending beyond the team itself.
- Anticipates customers’ wishes, goes the extra mile and is regarded as a constructive business partner.
- Makes use of every opportunity to surpass the anticipated results and also encourages others accordingly.
- Seeks and creates learning possibilities for himself/herself to develop and to learn from and with others. Helps and motivates others to learn.
- Charts course within own professional area and provides ideas for the direction and development of the 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.
- Encourages the necessary changes in own or adjoining professional areas and helps with their implementation.
- 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.
3. Competencies Functional - Technical
- 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.
- 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.
- PC literate in Windows Office (Word, Excel, PowerPoint)