Sr. Manager Policy Servicing

Job Description -Policy Servicing (Pay-outs) Sr. Manager
About HDFC Life:
HDFC Life, one of Indias leading private life insurance companies, offers a range of individual
and group insurance solutions. HDFC Life continues to have one of the widest reaches among
new insurance companies with about 380+ branches in India touching customers in over 900
cities and towns. Our long-stated strategy of balanced product mix, diversified distribution,
continuous product innovation and re-imagining insurance through effective use of
technology has enabled us to continue our journey despite the ever-changing external
environment.
Purpose of the Job:
• About the department:
Policy servicing department (Payout Team) is responsible to conduct smooth pay-out and
policy servicing transaction of the entire process. It is accountable to process and manage
data to ensure seamless pay-out process by increasing efficiency of the department.
• About the Role:
As a Senior Manager, your role involves leading a team and managing escalations to ensure
departmental processes are completed within predefined turnaround times (TAT). Key
responsibilities include conducting quality checks, overseeing Service Delivery Assurance
(SDAs), and preparing reports in compliance with regulatory standards set by the IRDA.
Additionally, you will track monthly performance and facilitate internal and external audits.
Duties & Responsibilities:
• Lead and manage a team to ensure process completion per predefined turnaround
times (TAT) and Standard Operating Procedures (SOPs).
• Facilitate communication with various departments to resolve queries and handle
escalations, ensuring a smooth customer experience.
• Conduct SDAs to evaluate process efficiency, address audit points promptly, and
implement preventive actions on open issues.
• Manage complex cases effectively to enhance overall customer experience.
• Prepare accurate reports for IRDAI audits and ensure compliance with regulatory
standards.
• Oversee end-to-end management of maturity payouts, ensuring accuracy.
• Identify gaps in processes and implement changes for continuous improvement.
• Conduct BPM reviews to maximize efficiency across departmental processes.

• Prepare management reporting data, including root cause analyses (RCAs) and project
updates.
• Engage in team management and development activities to boost morale and
productivity.
• Ensure team productivity and quality standards are upheld throughout the year.
• Monitor adherence to TATs, track outliers, and coordinate with stakeholders to
prevent IRDA TAT deviations.
• Oversee end-to-end tracking of production issues and developments, prioritizing
resolution.
• Propose self-initiated projects to enhance accuracy and reduce manual intervention.
Knowledge, Skills & Abilities:
• Educational Qualification: Minimum Graduate/ Post Graduate.
• Work Experience: 7 years’ experience.
• Product and Process knowledge of Life Insurance payouts
• Awareness of Life Asia System.
• Should be well versed with MS Office. (Excel, PowerPoint, etc.)
• Good communication skills
• Team management skills