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47 Prudential Financial Jobs
Lead- Group Underwriting
Prudential Financial
posted 15hr ago
Job Role Insights
Flexible timing
Key skills for the job
Job Description
Prudential s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
At Prudential India Health, we are on a mission to make Indians healthier, while bridging the health protection gap. We are a Zero to One team, committed to build journeys that will truly empathize with the customer and offer a differentiated, bespoke Prudential experience. To partner us in this mission, we are looking for a talented
Lead - Group Underwriting As a Lead - Group Underwriting Management, your typical week might include the following.
- Design, implement, launch, and manage a customer-centric group underwriting function/ workflow powered by Data & Technology
- Develop and evolve detailed standard operating procedures for comprehensive and seamless functioning of Onboarding and Underwriting management processes.
- Build processes and teams with a focus on automation, scalability, and productivity
- Collaborate with functions including but not limited to Technology, Product & Actuarial, Claims, Compliance, Risk Management, Sales and Finance; represent group Underwriting function in cross-functional implementations
- Responsible for day in day out group underwriting of new business/renewal. Creation of RFQs, Clearance of quotations as per the group underwriting SOP
- Creating guidelines or risk mitigation, data collection templates for generating quotations.
- Working on automating of system generated quotation process and further Iterations and repricing
- Quick and efficient liaising with Relationship managers, broker partners and the client for the conversion of the quote.
- Ensuring clearance of day-to-day inward of referred quotations, meeting the desired/promised SLAs
- Evaluate and arrive right pricing for the quote basis all the levers considered to anticipate and arrest any possible leakages
- Review evidence on previous claims experience, burning cost, IBNR, coverages opted and other rating factors to arrive on the best possible quotation
- Effective Communication with relationship managers/Distribution on the rationale adapted
- Work with the various internal teams as a SPOC of Underwriting in the process of designing workflow for group customers & would be responsible for documenting underwriting requirements
- Conduct market research/ market requirement study on underwriting practices and availability of products and benefits.
- Create bundled/package plans for the partners with pricing and coverages in collaboration with Actuarial and claims team
- Collaborate for system configuration, communications with ops, marketing etc.,
- Able to coordinate and work closely on creating KPI to monitor the group performance.
You could be the right candidate if you
- Postgraduate or Graduate with great understanding of Group health business
- Have 12-14 years experience of Insurance and at least 6yrs experience in group Underwriting.
- Understand and able to create innovative plans and packages in the group health space with great inclination towards digital journey, process efficiency and data analytics
- Understand underwriting operations, workflow and servicing model, smart underwriting nudges for effective quote engine and rating calculator to ensure less leakages
- You have a knack for motivating fellow underwriters to go the extra mile while supporting other stakeholders
- Good hands on excel, power query, data analytics, SQL or any other tools
- Can make informed decisions, swiftly and are adept at creative problem solving; have good judgment and analytical skills
- Have excellent verbal and written communication skills and strong negotiation skills.
- Thrive in environments that celebrate co-creation and collaboration.
- Have high resilience - can manage yourself, your teams and your peers when faced with ambiguity or failure.
This could be the gig for you if you
- Are passionate about consumer behavior and culture; enjoy spending time with customers to understand what they want. Have an attentive ear to listen to new ideas.
- Join hands with other colleagues to solve for the customer.
- Like to work in a culture where everyone can see what others are doing.
- Take help from others when stuck and encourage others when there are setbacks.
- Take full responsibility for your team s contribution output while thinking wing-to-wing across the organization.
- Have strong clinical knowledge and clinical decision-making skills
- Have built best-in-class processes from scratch
- Are passionate about leveraging digital tools to transform customer experience
Location: Mumbai
Title: Senior Manager / Lead - Group Underwriting
Employment Type: Full Time, Permanent
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What Prudential Financial employees are saying about work life
based on 6 employees
Flexible timing
Monday to Friday
No travel
Day Shift
Prudential Financial Benefits
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