AddressThe Vice President for New Business and Renewals is a strategic leadership role responsible for overseeing the entire spectrum of new business operations and supporting digital processes.
The VP serves as the critical & a vital link between the AVP - Digital Operations and AVP - Renewals, ensuring that both functions are aligned with the organizational goals. This position reports to the Sr. Vice President - Customer Service and Operations.
A Vice President - Digi-Ops & Persistency will be responsible for.
- Driving revenue growth and maximizing customer value through strategies aligned to this objective.
- Identifying Identifying opportunities maximise customer retentions and increase issuance by tracking metrics critical to customer retention and expanding the company's market share.
- Devising and implementing successful strategies in collaboration with various stakeholders, to implement targeted digital and operations initiatives to achieve the achieve business objectives.
- Ensuring compliance in all processes at all times to avoid any impact on the organizational image.
- Lead a team
- Ensure that all customers, including Partners, receive a high-quality, efficient, and effective experience throughout the policy issuance and renewal processes.
- Monitor, analyse & drive key metrics related to new business (TAT, SLA, FTR, STP, legit rejects, and exception handling).
- Drive organisational renewal collection targets by continuously improving operational efficiency and customer experience.
- Stay updated with industry trends, emerging technologies, and best practices in customer experience and digital service.
- Devise strategic business plans and strategies to meet organizational goals for both new business and renewal collections.
- Drive the implementation of innovative processes and technologies to enhance customer experience.
- Ensure compliance with all regulatory requirements and internal policies with zero nonconformance.
- Drive usability of digital platforms, striving for overall cost optimization while enhancing the customer and partner experience.
- Oversee and manage both new business operations and renewal collections by collaborating with other departments and leveraging technology to minimize manual intervention and maximize operational efficiency.
- Ensure that end-to-end capabilities are available across all milestones in the pre-issuance and renewal journeys, streamlining processes for efficiency.
- Utilize available opportunities and resources effectively to achieve phased organizational objectives.
- Ensure timely and accurate management, board, and regulatory reports, including those to the Insurance Regulatory and Development Authority of India (IRDAI).
- Responsible for resource planning in both the new business and renewal departments, minimizing process delays, and optimizing resource utilization.
