Manager, Individual Life Policy Servicing

Job description

The Manager will be assisting the Senior Manager in the Policy Servicing Team on all transactional processing functions and managing the people, process & systems to achieve operational efficiencies and service excellence as well as involved in setting the company’s service standards and quality objectives.

The team aims to continuously improve efficiency and effectiveness of process and systems through Systems Thinking and Service Design Thinking to achieve desired Net Promoter Score. Your role as a manager will also be responsible for the policy servicing operations which consists of:

Client level changes - changes in personal particulars and contact details, update FATCA/CRS, returned mails.

Policy level changes - changes in policy coverage, premium payment mode and method, plan type, free look cancellation, cancellation of policy, fund switch, premium redirection, top-up, reinstatement, add or delete rider, policy assignment, policy review, bankruptcy update, HPS exemption.

Beneficiary changes - nomination of beneficiary, trust.

Policy pay-out - annuity pay-out and survivorship check, maturity pay-out, surrender pay-out, withdrawal pay-out, CPFIS Profit & Loss

FDOs - fund statements, anniversary statements, policy endorsements, bonus statements, Post Sales Quotations etc.

Enquiries & appeals – status of application, appeals relating to administrative requirements.

Role Summary

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Responsible for handling complaints pertaining to Policy Servicing Team transactions.

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Ensure department’s defined service standards and TATs are met.

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Ensure high level of accuracy in transactions processed daily.

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Handle complaints pertaining to transactions for Policy Servicing Team.

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Ensure compliance with the relevant business standards.

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Recruit, retain, motivate, train and manage staff to deliver one-stop consistent and delightful customer experience across all servicing enquiries and transactions in accordance with the company’s service standards and quality objectives as well as to maintain high employee engagement.

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Actively support Client Management, Service Operations and Distribution Channels to address all enquiries and complaints resolution pertaining to policy servicing transactions.

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Actively support Client Management, Service Operations and Distribution Channels by providing necessary training and information on business rules and processes to staff and advisers pertaining to policy servicing transactions.

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Design, coordinate and conduct relevant training programs for new joiners and existing staff in Policy Servicing Team.

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Identify areas of improvements, raise work request or participate in user acceptance testing and ensure smooth implementation.

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Responsible for assessing impact and implementing changes to staff role, work process, business rules, systems and applications arising from new product launches and Day 2s enhancements.

Education Qualifications

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Tertiary qualification

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CLI, ILP, FNA or M5, M8, M9, HI

Required Capability:

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Excellent management and leadership skills.

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Excellent customer service and complaint handling skills.

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Good understanding of the regulatory aspects of life, health and investment linked insurance industry (MAS, LIA, CPF Board, MOH)

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Knowledge in AS400 / CM400 / Dotsphere / BPM Workflow preferred.

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Good communication skills - proficient in oral and written skills.

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Good understanding of the principles for all types of life, health and investment linked products.

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Good interpersonal skills.

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Meticulous with an eye for details.

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Good process design and improvement skills.

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Relevant experience in the insurance industry.

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Relevant managing an aspect of insurance operations in a supervisory role.

If you have what it takes, please do not hesitate to click apply!