Manager Process Excellence

Hyderabad - India

Monthly Salary: Not Disclosed

Posted on: 16 hours ago

Vacancies: 1 Vacancy

Job Summary

1. Process Excellence Manager: Life & Annuities (L&C) Core Responsibilities

End-to-End Value Stream Mapping: Analyze the lifecycle of life insurance products from New Business/Underwriting to Policy Servicing and Death Claims.
Underwriting Efficiency: Optimize medical and non-medical underwriting workflows to reduce Time-to-Issue and improve Placement Ratios.
Annuity Payout Optimization: Streamline periodic payment setups and mortality tracking processes to ensure accuracy and prevent overpayments.
Digital Transformation: Identify opportunities for STP (Straight-Through Processing) in policy applications and self-service portals for policyholders.
Compliance & Risk: Ensure all process improvements adhere to state-specific non-forfeiture laws and tax reporting requirements (e.g. 1099-R).

Domain-Specific Requirements

Knowledge: Deep understanding of Term Life Whole Life Universal Life and Fixed/Variable Annuities.
Experience: Familiarity with L&A platforms (e.g. ALIP CyberLife OIPA).
Metrics: Focus on Policy Persistency Surrender Rates and Underwriting Cycle Time.

2. Process Excellence Manager: Property & Casualty (P&C)

Focus: High-volume transaction processing rapid claims response and catastrophe management.

Core Responsibilities

Claims Transformation: Optimize the FNOL (First Notice of Loss) process to improve cycle times and reduce Adjustment Expenses.
Leakage Control: Implement Lean controls to identify and minimize Claims Leakage (unnecessary payments) through better subrogation and salvage processes.
Agency/Broker Workflow: Streamline the submission-to-quote process to improve Hit Ratios for agents and brokers.
AI & Automation: Integrate AI for Auto-Adjudication of simple claims (e.g. glass minor auto) and utilize telematics data for process insights.
Vendor Management: Improve processes for third-party service providers like repair shops independent adjusters and legal counsel.

Domain-Specific Requirements

Knowledge: Proficiency in Personal Lines (Auto Home) and/or Commercial Lines (Workers Comp General Liability).
Experience: Hands-on experience with P&C core systems like Guidewire or Duck Creek.

1. Process Excellence Manager: Life & Annuities (L&C) Core Responsibilities End-to-End Value Stream Mapping: Analyze the lifecycle of life insurance products from New Business/Underwriting to Policy Servicing and Death Claims. Underwriting Efficiency: Optimize medical and non-medical unde...

1. Process Excellence Manager: Life & Annuities (L&C) Core Responsibilities

End-to-End Value Stream Mapping: Analyze the lifecycle of life insurance products from New Business/Underwriting to Policy Servicing and Death Claims.
Underwriting Efficiency: Optimize medical and non-medical underwriting workflows to reduce Time-to-Issue and improve Placement Ratios.
Annuity Payout Optimization: Streamline periodic payment setups and mortality tracking processes to ensure accuracy and prevent overpayments.
Digital Transformation: Identify opportunities for STP (Straight-Through Processing) in policy applications and self-service portals for policyholders.
Compliance & Risk: Ensure all process improvements adhere to state-specific non-forfeiture laws and tax reporting requirements (e.g. 1099-R).

Domain-Specific Requirements

Knowledge: Deep understanding of Term Life Whole Life Universal Life and Fixed/Variable Annuities.
Experience: Familiarity with L&A platforms (e.g. ALIP CyberLife OIPA).
Metrics: Focus on Policy Persistency Surrender Rates and Underwriting Cycle Time.

2. Process Excellence Manager: Property & Casualty (P&C)

Focus: High-volume transaction processing rapid claims response and catastrophe management.

Core Responsibilities

Claims Transformation: Optimize the FNOL (First Notice of Loss) process to improve cycle times and reduce Adjustment Expenses.
Leakage Control: Implement Lean controls to identify and minimize Claims Leakage (unnecessary payments) through better subrogation and salvage processes.
Agency/Broker Workflow: Streamline the submission-to-quote process to improve Hit Ratios for agents and brokers.
AI & Automation: Integrate AI for Auto-Adjudication of simple claims (e.g. glass minor auto) and utilize telematics data for process insights.
Vendor Management: Improve processes for third-party service providers like repair shops independent adjusters and legal counsel.

Domain-Specific Requirements

Knowledge: Proficiency in Personal Lines (Auto Home) and/or Commercial Lines (Workers Comp General Liability).
Experience: Hands-on experience with P&C core systems like Guidewire or Duck Creek.