Job Purpose:
The job holder will be responsible for administration of group life and credit life business.
Key responsibilities:
Reconcile member details with existing data whenever there are changes to scheme membership e.g. changes in salary, addition or exit of scheme members.
Ensure that primary reconciliations of payments, payables and receivables between the client and related parties with respect to premium, commissions and administration fees is done.
Ensure that for the primary reconciliation above, there is a formal sign off from the client and related parties.
Prepare costing schedules for new entrants/exits/new declarations/ refunds, raise the respective debit/credit and communicate to the underwriting and finance teams as per set SLAs.
Prompt processing of medical requisition forms for members above the free cover limit.
Support retention of business by adhering to the set SLAs and TATs.
Promote relationship management with the clients.
Ensure accuracy in costings and debit/credit notes.
Follow up on timely premium payment from the clients.
Follow up on timely Administration Fee payment by the related parties.
Prompt handling of queries from the client and related parties.
Prompt processing of supplementary costings.
Prompt communication of costings (i.e. new entrants, revised salaries & exits).
Delegated Authority: As per the approved Delegated Authority Matrix.
Key Performance Measures:
As described in your Personal Scorecard.
Knowledge, experience and qualifications required
Bachelor’s Degree in a business-related field.
Proficient in Microsoft Office tools.
1 year working experience in an insurance Company.
Technical/ Functional competencies:
Knowledge of insurance industry and concepts.
Knowledge of insurance regulatory requirements.
Knowledge of group life service operations.
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