- Feb 17, 2023
Life Policy Servicing Assistant Manager - 12 months contract
Senior Executive, Policy Servicing
Morgan Mckinley is working in partnership with a leading insurance company currently looking for a 12 months contractor to join their team. This position reports into the Client review head.
- A business support role to define/validate/expand/streamline the POS transactions to improve overall POS guidelines, processes, and customer experience, and increase productivity.
- Provide good customer service to policyholders, financial advisors/consultants on POS matters and ensure customer satisfaction in the services provided.
- Handles the operations and administrative duties of the department, including POS transactions and processing.
- Any other related customer service-related activities and projects to support distribution channels, customers and marketing campaigns.
- Work as a team and provide support/back up for each other within the team.
- Provide support and work in partnership with our outsourced vendor on a daily basis.
- Perform Quality Checks on POS transactions handled by our outsourced vendor and provide prompt feedback and training to them to improve their work quality and reduce error rate.
- Provide Training to internal and external customer eg. Customer Care Officers, Distributor Care Officers, SingPost, Financial Consultants etc.
- Review pending cases and unclaimed monies and ensure reduction of such cases e.g. pending POS/Claims cases, unclaimed maturity proceeds, suspense balances, unpresented cheque etc.
- Participate in project deliverables, provide system requirements and perform end-to-end User Acceptance Testing (UAT) for POS.
- Any other ad hoc duties as assigned by the Manager.
- Identify POS Processes that has room for business transformation, business re-engineering and implement streamlining of processes to increase operational efficiency.
- Ensure regular updates of POS processes and guidelines and ensure any changes are communicated to internal staff, vendor team, as well as to financial consultants.
- Ensure prompt clearance of the Suspense Balances as per Listing, as well as Unpresented Cheque Listing. To follow up closely with the financial consultants/policyholders to clear the cases and ensure reduction of such cases.
- Ensure 20% reduction of unpaid maturity claims as at year end by following up closely with policyholders and financial consultants.
- Identify POS transactions that are not customer focused, outdated, not in line with industry practice, has the highest number of complaints etc and offer a total solutioning to improve the processes.
- Ensure that POS transactions are processed promptly and accurately especially those transactions which are price and time sensitive eg. CPFB payments and ILP payments.
- Ensure that ALL POS transactions done internally or by the vendor team are processed promptly and in accordance to the POS authority limit and meet all the service turnaround time. If there is any delay, to escalate it promptly to Manager for solutioning.
- For any system errors or process errors, to investigate on the root cause of the problem and provide total solutioning to prevent repeated errors.
- Coaching & provide guidance to new/junior staff on all processes related issues with SOP guideline.
- Update adviser handbook for ALL POS transactions promptly.
- Review and update SOP on a quarterly basis or whenever there is regulatory rules changes or new process / any change in processes.
- Improve POS productivity by identifying and simplifying the processes and cutting down unnecessary requirements.
- Participate in meetings and perform end-to-end UAT. Act as a subject matter expert (SME) for POS on operational procedures and system requirements for new products launch, Day 2 enhancement and system issues.
As a successful applicant, you would have the following Skills & Qualifications:
Competencies & Personal Traits
- A bachelor's degree in business or related field
- 1 - 3 years' experience in Life Operation / Policy Servicing
- Familiar with life insurance processes and possess experience in the related servicing support.
- Good interpersonal and customer servicing skills
- Good written and oral skills
- Ability to adapt to changes
- Shield knowledge will be an advantage
If you're interested in this role, please send your updated CV (word format) to firstname.lastname@example.org for a confidential discussion
Referrals are greatly appreciated.
Morgan McKinley Pte Ltd
EA Licence No: 11C5502
Registration No: R21101982
Registration Name: Fabian Leow
Only shortlisted candidates will be responded to, therefore if you do not receive a response within 14 days please accept this as a notification that you have not been shortlisted