Policy Servicing

Policy Servicing - Payout Team | Associate Manager

The Policy Servicing Payout Team ensures smooth and accurate customer payouts across maturity, surrender and related transactions. Theociate Manager is responsible for endtoend payout processing, audit responses, reconciliations, customer communication, inward allocation, makerchecker activities, pendency tracking, residual balance payouts and monthly MIS. The role ensures 100% accuracy, adherence to TAT/SOPs, and drives process improvement, handling complex cases and regulatory MIS (IRDA) with efficiency.

Duties & Responsibilities:

1. Initiating payout data and sharing it with the respective stakeholder as per the pre defined TATs.

2. Managing communications with the stakeholders as per the pre-defined guidelines.

3. Tracking and handling payout cases which are on hold and provide resolution.

4. Ensuring process completion as per pre-defined TAT and Standard Operating Procedure (SOPs). Authorizing and tracking pay-outs for the smooth flow of the entire process.

5. Handling complex cases to ensure customer satisfaction.

6. Handling query box, handling end to end inward activity.

7. Quality checking

8. IRDA MIS and Quarterly reports

9. Accuracy in Processing with Zero incorrect Payments

10. Maintaining TAT and Productivity

11. Taking initiatives to pick up additional work/ challenges for new learning and self improvement

12. Contribution for process development that should result in improvement of TAT or Quality of processing.

13. Knowledge of PS and customer payout process, & unclaimed amount to policyholders "Data Management & MIS handling