Branch Service Manager - Operations - Faridabad

About the Health Insurance Industry

The health insurance market in India is competitive, with over 15 private non-life insurers and 5 specialized private health insurers vying for market share. Government-owned providers continue to hold a strong position. The overall annual market size is approximately 10,000 crore INR, but about 85% of business renewals occur with existing providers, limiting new business opportunities to around 1,500 crore INR. The SME and startup sectors represent a growing customer base offering significant potential for new health insurance solutions tailored to these segments. Developing affordable and standardized offerings to expand reach through channel partners across India remains critical.

Market Opportunities

Advancements in medical technology, evolving lifestyles, and changing socio-economic factors in India are challenging insurers to meet diverse customer needs. Customers increasingly view health insurers as health advisers, increasing the importance of creating customized insurance plans with wellness benefits that align with customer goals and generate profitable revenue.

About Aditya Birla Health Insurance

Aditya Birla Health Insurance Co. Limited (ABHICL) was established in 2015 as a joint venture between Aditya Birla Capital Limited and MMI Strategic Investments, commencing operations in October 2016. As the sixth entrant in the competitive health insurance sector, ABHICL aims to broaden the category by targeting customer segments beyond traditional markets. ABHICL differentiates itself through its philosophy of "Health Insurance for All," ensuring seamless customer experience across all touchpoints.

• Comprehensive Incentivized Wellness Program motivating young and health-conscious customers to maintain healthy lifestyles.
• Chronic Care Management Program from day one to support customers with chronic lifestyle diseases such as diabetes, asthma, high cholesterol, and hypertension.
• Acts as both healthcare payer and influencer, fostering growth through innovative products relevant to consumers.
• Digital-first approach enabling a paperless process from customer onboarding to service delivery for enhanced experience.

Role Challenges

• Addressing sales-related queries within agreed timelines.
• Timely resolution of walk-in customer issues to satisfaction.
• Promptly handling active agent concerns efficiently.
• Collaborating with central operations (COPS) to resolve sales and customer queries.
• Following up with sales teams to ensure issuance within agreed turnaround times.
• Managing third-party processing units with accuracy and consistency.
• Overseeing Karvy processing tasks ensuring utmost precision.
• Coordinating with Medi Assist to facilitate smooth patient medical procedures.

Key Result Areas and Supporting Activities

Receipting Process

• Precisely process receipts for fresh and renewal applications within set timelines.
• Verify application payments and issue receipts for individual, group, and rural business transactions.
• Forward original applications and related documents to Head Office or designated agencies timely.
• Implement receipt cancellation procedures as needed.

Banking and Reconciliation

• Generate and review reports on cash and cheque collections; reconcile with physical instruments.
• Accurately record payment entries and update systems when cash premiums are collected.
• Deposit cash and cheques with authorized banks, maintaining deposit slips.
• Coordinate with collection banks and address any follow-up requirements.
• Resolve reconciliation queries from Head Office promptly.
• Notify Head Office banking team if cash or cheques are not collected by banks as expected.

Petty Cash and Vendor Payments

• Review and process vendor bills and reimbursements as per guidelines.
• Ensure timely delivery of cheques to vendors.
• Request petty cash replenishment from Head Office.
• Maintain petty cash within defined limits and update petty cash logs.
• Submit expense payment vouchers to Head Office.
• Perform reconciliation of petty cash and vendor ledgers regularly.

Advisor Servicing

• Distribute commission cheques to Account Managers and advisors.
• Address advisor commission inquiries coordinating with distribution management teams.
• Liaise with Head Office commission and distribution teams to resolve discrepancies.
• Ensure timely collection and distribution of TDS certificates to advisors and relevant teams.

New Business Processing

• Process new business applications at the branch adhering to underwriting guidelines to maximize input accuracy and issuance rates.
• Scan and forward error-free applications for further processing.
• Manage dispatch and tracking of applications and documents to vendors or Head Office efficiently.
• Coordinate medical management with sales, PPMC teams, and medical service providers to expedite customer medical tests and report delivery.
• Alert sales teams of cheque dishonours, free look cancellations, and other issues.
• Collaborate with Head Office processes and vendors to ensure rapid decisions and improved customer service.
• Support colleagues and sales teams on business and underwriting guidelines to ensure smooth operations.
• Manage local dispatch or hand delivery of undelivered policy documents forwarded to the branch.