Kotak Mahindara Life Insurance Process Associate Salaries by 5 Employees (Updated 2025)

2 - 5 years exp.

₹1.8 Lakh - ₹4 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

26% less than the average Process Associate Salary in Insurance Companies for 2 - 5 years of experience

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Salaries in different departments

Finance & Accounting Process Associate Salary 3 - 4 years exp. (AmbitionBox Estimate)	₹1.6 L/yr - ₹2 L/yr
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Procurement & Supply Chain Process Associate Salary 4 years exp. (AmbitionBox Estimate)	₹2.4 L/yr - ₹3 L/yr

Last Updated: 29 Mar 2025

Companies similar to Kotak Mahindara Life Insurance for Process Associate

Company name	Avg Annual Salary	Open Jobs
Gallagher Process Associate Salary 0 - 4 years exp. (1.4k salaries)	₹1.1 L/yr - ₹6 L/yr 28% more
HDFC Life Process Associate Salary 0 - 4 years exp. (26 salaries)	₹1.5 L/yr - ₹3.1 L/yr 6% less
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Axis Max Life Insurance Process Associate Salary 0 - 6 years exp. (15 salaries)	₹2 L/yr - ₹3.3 L/yr 11% more
SBI Life Insurance Company Process Associate Salary 1 - 5 years exp. (12 salaries)	₹1.2 L/yr - ₹3.5 L/yr 7% more
ICICI Prudential Life Insurance Process Associate Salary 0 - 6 years exp. (10 salaries)	₹2.5 L/yr - ₹6 L/yr 64% more
Shriram Life Insurance Process Associate Salary 0 - 5 years exp. (10 salaries)	₹1.5 L/yr - ₹2.5 L/yr 13% less
ICICI Lombard General Insurance Company Process Associate Salary 0 - 6 years exp. (9 salaries)	₹2.2 L/yr - ₹3 L/yr 8% more
HDFC Ergo General Insurance Process Associate Salary 1 - 6 years exp. (7 salaries)	₹2.6 L/yr - ₹5 L/yr 36% more
Empower Process Associate Salary 2 - 4 years exp. (6 salaries)	₹3 L/yr - ₹5 L/yr 63% more
AIG Process Associate Salary 1 - 4 years exp. (6 salaries)	₹3 L/yr - ₹4.5 L/yr 56% more
Swiss Re Process Associate Salary 2 - 11 years exp. (5 salaries)	₹3.8 L/yr - ₹8.4 L/yr 170% more
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Aditya Birla Sun Life Insurance Process Associate Salary 1 - 4 years exp. (5 salaries)	₹2.6 L/yr - ₹4.7 L/yr 54% more
Bajaj Allianz Life Insurance Process Associate Salary 4 - 7 years exp. (4 salaries)	₹1.2 L/yr - ₹3.2 L/yr 2% more
AXA Process Associate Salary 0 - 4 years exp. (4 salaries)	₹3 L/yr - ₹4.5 L/yr 53% more
XL Catlin Process Associate Salary 2 years exp. (3 salaries)	₹3.5 L/yr - ₹4.8 L/yr 53% more
Star Health & Allied Insurance Process Associate Salary 0 - 5 years exp. (4 salaries)	₹2.1 L/yr - ₹3.5 L/yr 11% more

Process Associate salary at Kotak Mahindara Life Insurance ranges between ₹1.8 Lakh to ₹4 Lakhs per year for employees with experience between 2 years to 5 years. Salary estimates are based on 5 latest salaries received from various employees of Kotak Mahindara Life Insurance.

Experience wise Kotak Mahindara Life Insurance Process Associate salaries

Last Updated: 29 Mar 2025

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹1.6 L/yr - ₹2.1 L/yr
3 years (AmbitionBox Estimate)	₹1.8 L/yr - ₹2.3 L/yr
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4 years (AmbitionBox Estimate)	₹2.3 L/yr - ₹2.9 L/yr
5 years (AmbitionBox Estimate)	₹2.8 L/yr - ₹3.5 L/yr

Similar Designation salaries in Kotak Mahindara Life Insurance

Senior Associate Salary

(4 salaries)

₹2.8 L/yr - ₹3.51 L/yr

Account Assistant Salary

(9 salaries)

₹1.5 L/yr - ₹3 L/yr

Senior Analyst Salary

(AmbitionBox Estimate)

₹4.9 L/yr - ₹6.2 L/yr

Accounts Officer Salary

(AmbitionBox Estimate)

₹4.3 L/yr - ₹5.5 L/yr

Accountant Salary

(4 salaries)

₹1.44 L/yr - ₹5.15 L/yr

Finance Executive Salary

(6 salaries)

₹1.8 L/yr - ₹3 L/yr

Analyst Salary

(4 salaries)

₹2.6 L/yr - ₹15.8 L/yr

Accounting Staff Salary

(AmbitionBox Estimate)

₹3.8 L/yr - ₹4.8 L/yr

Financial Analyst Salary

(AmbitionBox Estimate)

₹4.4 L/yr - ₹5.6 L/yr

Management Trainee Salary

(192 salaries)

₹2.7 L/yr - ₹6.33 L/yr

Top skills at Kotak Mahindara Life Insurance for Process Associate

New Business Operations Retail Banking MIS Banking Operations Insurance

Salary related reviews for Kotak Mahindara Life Insurance

Deputy Manager in Mumbai

Full Time

Customer Success, Service & Operations Department

2.0

• posted on 04 Jan 2025

3.0

for Salary and Benefits

Likes

Only job security

Dislikes

Work environment was not at all good hr and manager gives false commitment they ask to come on Sunday without pay 7 days a week and daily extend shift without any OT or something no positive environment they treat us like machine

Skill development - Poor

+4 more

Deputy Manager in Thane

Alternate Sales Department

2.0

• posted on 13 Apr 2022

2.0

for Salary and Benefits

Likes

Kotak Mahindra Bank branches alloted were doing good business

Dislikes

1st salary badly delayed, but was personally sorted by HR. No support even in case of family emergency and hence had to resign having no choice

Salary - Poor

+5 more

Management Trainee in Chhatisgarh

Full Time

Marketing & Communication Department

4.0

• posted on 08 May 2021

4.0

for Salary and Benefits

Likes

It is all about leadership. If you are good in recruitment then you will more success and financial compensation also.

Salary - Good

+6 more

Dislikes

Senior managers are not available all times so you handle alone and spoil resource coz lack of knowledge and experiences

Deputy Manager in Mumbai

BFSI, Investments & Trading Department

4.0

• posted on 16 Jun 2020

2.0

for Salary and Benefits

Likes

...fe.Team mates are supportive. This is the second appraisal but mine is not done. Till now no salary hike which demotivate employee .work culture is good.

Skill development - Good

+1 more

Dislikes

Politics.low or no salary hike. Appraise are not done fairly. No defined timing to work.

Salary - Poor

+1 more

Sales Manager in Mumbai

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 26 Jun 2024

1.0

for Salary and Benefits

Likes

Managerial support.

Company culture - Good

Dislikes

... Company gives me 2.5% hike in appraisal after achieving a 70% of YTD Target.... Appraisal and salary hike processes at Kotak Life Insurance are deeply disappointing. Despite dedicated efforts and meeting performance targets, the appraisal system feels arbitrary and lacks transparency. Promises of career growth and salary increments are often unfulfilled, leaving employees demotivated and undervalued. There’s a noticeable disparity between the workload expectations and the compensation provided, which doesn’t align with industry standards. This undermines morale and loyalty among employees, impacting overall productivity and retention. Clearer and fairer appraisal policies are urgently needed to retain talent and boost employee satisfaction."

Salary - Bad

+2 more

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My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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Kotak Mahindara Life Insurance Process Associate Salary FAQs

What is the salary of Process Associate at Kotak Mahindara Life Insurance ?

The average salary of a Process Associate at Kotak Mahindara Life Insurance in India typically ranges from ₹1.8 Lakhs to ₹4.0 Lakhs per year, depending on experience (from 2 years to 5 years).

The top 10% of Process Associate at Kotak Mahindara Life Insurance earn more than ₹4.0 Lakhs per year, and the top 1% earn over ₹4.0 Lakhs per year. Process Associate Salaries at Kotak Mahindara Life Insurance can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 5 Kotak Mahindara Life Insurance employees in India.

What is the estimated take home salary of a Process Associate at Kotak Mahindara Life Insurance in India?

The estimated take-home salary of a Process Associate at Kotak Mahindara Life Insurance in India typically ranges from ₹16,276 to ₹17,954 per month. This is based on the average salary range of ₹1.8 Lakhs to ₹4.0 Lakhs per year for employees with experience ranging from 2 years to 5 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 5 salaries received from various employees of Kotak Mahindara Life Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Process Associate at Kotak Mahindara Life Insurance ?

To be a Process Associate at Kotak Mahindara Life Insurance in india, the key skills required include:

- New Business
- Operations
- Retail Banking
- MIS
- Banking Operations

These skills are highly valued at Kotak Mahindara Life Insurance and are crucial for successful performance in a Software Engineering role.

Which companies offer higher salaries than Kotak Mahindara Life Insurance for Process Associate in India?

Swiss Re	₹3.8 Lakhs to ₹8.4 Lakhs per year
ICICI Prudential Life Insurance	₹2.5 Lakhs to ₹6.0 Lakhs per year
Empower	₹3.0 Lakhs to ₹5.0 Lakhs per year
AIG	₹3.0 Lakhs to ₹4.5 Lakhs per year
Aditya Birla Sun Life Insurance	₹2.6 Lakhs to ₹4.7 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Kotak Mahindara Life Insurance, depending on the role and experience level.

What is the salary of a Process Associate in companies similar to Kotak Mahindara Life Insurance in India?

The salary of a Process Associate at companies similar to Kotak Mahindara Life Insurance in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

AXA	₹3.0 Lakhs to ₹4.5 Lakhs per year
XL Catlin	₹3.5 Lakhs to ₹4.8 Lakhs per year
HDFC Ergo General Insurance	₹2.6 Lakhs to ₹5.0 Lakhs per year
Gallagher	₹1.1 Lakhs to ₹6.0 Lakhs per year
Axis Max Life Insurance	₹2.0 Lakhs to ₹3.3 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Process Associate at Kotak Mahindara Life Insurance in India?

The salary growth for a Process Associate at Kotak Mahindara Life Insurance depends on factors such as experience, performance, and promotions. On average, a Process Associate can expect the following growth trajectory at Kotak Mahindara Life Insurance:

Experience	Average Salary Range
2 years	₹1.6 Lakhs to ₹2.1 Lakhs per year
3 years	₹1.8 Lakhs to ₹2.3 Lakhs per year
4 years	₹2.3 Lakhs to ₹2.9 Lakhs per year
5 years	₹2.8 Lakhs to ₹3.5 Lakhs per year

and so on.

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Kotak Mahindara Life Insurance Process Associate Salaries

Kotak Mahindara Life Insurance Process Associate salary in India ranges between ₹1.8 Lakh to ₹4 Lakhs with an average annual salary of ₹. Salary estimates are based on 5 Kotak Mahindara Life Insurance latest salaries received from various employees of Kotak Mahindara Life Insurance.