Head - Distribution Payments

Job Purpose

Implementation of New Policy Admin System and driving Automation in Insurance Accounting which can lead to increase in customer satisfaction (Internal & external) and build control. Have Techno-Functional skill set.

Job Context & Major Challenges

Job Context:

Job Challenges:

About the Health Insurance Industry –

While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space the clients are facing challenges to cater to the needs of diverse workforce. Increasingly Indian clients have started considering group benefits as a lever to manage employee expectations, talent acquisition and retention. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions which would help them meet their end objectives and bring in profitable revenue source for the company.

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters) Supporting Actions (Max 1325 Characters)

KRA1 Implementation of New Policy Admin System1. Driving implementation of policy admin system from Technical accounting point of view

2. Discussions with stakeholders and providing inputs, sign off on the requirements to Technical team

KRA2 Driving Automation in Accounts1. Developing detailed understanding of existing processes and drive automation in the same

2. Understanding of Insurance regulation and implementation of its impact in system

3. Understanding and develop accounting system as per new Accounting Standard regulation (IND AS-117)

4. Driving the digitization and standardization in the Accounting system

5. Driving excellence in Automation

KRA3 Working on Accounts & Taxation project to build the control & assisting in customer satisfaction1. Understanding control environment and building control as per internal risk control mechanism

2. Working on other project / area as per requirement

Minimum Experience Level

15 - 20 years

Job Qualifications

02 degree

Group company: Accounts · Experience: 15 to 20 years