Associate Manager- Insurance

About PhonePe Group:

PhonePe is Indias leading digital payments company with 50 crore 500 Million) registered users and 3.7 crore 37 Million) merchants covering over 99 of the postal codes across India. On the back of its leadership in digital payments PhonePe has expanded into financial services (Insurance Mutual Funds Stock Broking and Lending) as well as adjacent techenabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is Indias first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the companys vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

Culture

At PhonePe we take extra care to make sure you give your best at work Everyday! And creating the right environment for you is just one of the things we do. We empower people and trust them to do the right thing. Here you own your work from start to finish right from day one. Being enthusiastic about tech is a big part of being at PhonePe. If you like building technology that impacts millions ideating with some of the best minds in the country and executing on your dreams with purpose and speed join us!

Job Description: Lead Insurance

About PhonePe:

PhonePe is a leading digital payments and financial services company in India. The Corporate
Insurance Team plays a crucial role in protecting the company's assets and mitigating risks.

Key Responsibilities:

Risk Management: Identify assess and understand various risks to PhonePe including
asset marine and liability risks.
Policy Management: Administer insurance policies including quality control accounting
and renewals. Ensure accurate documentation and compliance with regulations.
Claims Management: Report and manage insurance claims ensuring timely and accurate
settlement.
Vendor Management: Onboard and manage insurance vendors attending seminars and
maintaining market knowledge.
Stakeholder Management: Collaborate with internal stakeholders (IT Finance Legal etc. to
understand risks conduct risk inspections and provide policy education.
Policy Negotiation and Improvement: Negotiate policy terms and conditions with insurers
striving for improvements without increasing premiums.
Asset Management: Oversee asset insurance including accurate grouping sum insured
calculation and monthly declarations.
Marine Insurance: Manage marine insurance policies including sum insured finalization
monthly utilization tracking and claims.
Liability Insurance: Handle various liability insurance policies (D&O Cyber Crime CGL PI)
including incident reporting and claims.
Documentation: Maintain accurate records and documentation for all insurancerelated
activities.

Specific Tasks:

Conducting risk assessments and identifying new risks.
Analyzing insurance policies and ensuring they meet PhonePe needs.
Preparing and submitting Request for Quotes (RFQs).
Managing relationships with insurance companies and intermediaries.
Tracking and managing Cash Deposit balances.
Providing guidance to internal teams on insurance policies and procedures.

Requirements:

Strong understanding of insurance principles and practices.
Experience in risk management and claims processing.
Excellent communication and negotiation skills.
Ability to work independently and as part of a team.
Strong analytical and problemsolving
Detailoriented and organized.
Ability to manage multiple tasks and meet deadlines.

Key Performance Indicators (KPIs):

Successful claims settlement rate.
Accuracy of policy administration.
Effective risk mitigation.
Cost optimization of insurance premiums.
Positive feedback from stakeholders.

Why this role is crucial for PhonePe:

Product Innovation: Enables the evaluation of risks associated with new products and
services.
Regulatory Compliance: Helps PhonePe navigate the regulatory landscape and ensure
compliance.
Operational Efficiency: Contributes to business continuity and minimizes losses.

PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)

• Insurance Benefits Medical Insurance Critical Illness Insurance Accidental Insurance Life Insurance
• Wellness Program Employee Assistance Program Onsite Medical Center Emergency Support System
• Parental Support Maternity Benefit Paternity Benefit Program Adoption Assistance Program Daycare Support Program
• Mobility Benefits Relocation benefits Transfer Support Policy Travel Policy
• Retirement Benefits Employee PF Contribution Flexible PF Contribution Gratuity NPS Leave Encashment
• Other Benefits Higher Education Assistance Car Lease Salary Advance Policy

Working at PhonePe is a rewarding experience! Great people a work environment that thrives on creativity the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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