Insurance Manager

Job Summary:

The Insurance Manager will be responsible for insurance related business development & business management functions for Mercedes-Benz Insurance programs - such as: Ensure achievement of OP targets, Manage relationship with insurer and ensure delivery of agreed SLA’s, Manage day-to-day operation of insurance business, Ensure implementation of Insurance strategy and program management, Ensure operational excellence and total customer care in all retail lines, Meet dealers, dealers sales & after sales staff, MBFS F&Is, Brand partners Sales & After Sales to push for business, Leading continuous change and process improvement, Ensure that the business is compliant. The position will interact with the following team to achieve the objectives: Insurance company’s Sales (both in HO & in branches), Claims servicing, Product & Underwriting teams; Mercedes-Benz Dealers and dealer management teams, Mercedes-Benz Finance (MBFS) sales team and back end team like Operations, F&C, IT etc, Mercedes-Benz dealer’s Sales, F&I, After Sales team, Mercedes-Benz India, MBFS teams such as Ops, F&A, IT, Legal

Key Responsibilities:

• Business Development: Drive new & used insurance business with the help of F&Is and Insurance company sales teams and ensure achievement of: Insurance penetration target on retail sales of MBIL, Insurance penetration target on in-house financed cases of MB, Monitor follow-up and conversion of renewal business for MB, Offering business development support to the sales teams & dealers, Prepare training content and facilitate training programs for sales and after sales teams of dealers with insurance company.

  
  

• Insurance Claims Management: Ensure implementation of claims SLA by Insurance company, Analyses of claims data received from the insurance company and highlight the areas of improvement to maintain the TATs of claim settlement, attend claim escalations raised by the customers/dealers/sales teams and ensure resolution. Escalate any concerns during the CFT meeting. Prepare claims MIS and analyze claims data to improve settlement TAT.

  
  

·       Product Development: Based on feedback received from dealers & MBI Sales/After Sales teams work closely with Insurance partners to develop new products followed by its pricing, launch and training for all the dealers.

·       Process Efficiency: Work/coordinate with internal teams and in defining the insurance related process and getting the same documented, Work with MBFS IT team and Insurance Company for the improvement and automation of existing process within the company and with the insurance company

 ·       MIS Management:

Prepare daily MIS dashboards on target vs achievement (finance & insurance, dealer-wise).

Track dealer/branch-wise insurance penetration.

Analyze executive-level performance to identify gaps and non-contributors.

Collect and process field data, identify trends, and highlight business opportunities.

Work with IT to automate dashboards in Power BI.

·       Quality Management: Implementation of defined sales process, Ensure adherence to compliance, Lead Management and analysis, To ensure resolution of customer complaints within specified TAT. Strengthen Quality management processes to improve Process Performance through various Quality Tools

·       Operational Activities:

Prepare monthly MIS & MSR.

Validate MSR number and communicate the same to F&C team for monthly reporting.

Follow up with insurers to ensure timely payments.

Conduct training programs for dealer sales and after-sales teams with insurance partners.

Drive new, used, and renewal insurance business for the region.

Perform reconciliation regularly as per the IRDAI guidelines.

Collaborate with marketing teams to develop and implement marketing plans for Insurance and Extended Warranty products.

·       Communication and leadership: Communication with:

•  Managing Director to keep him appraised of important initiatives & MIS on a monthly basis.Head of Insurance with Development & Implementation of Projects, review and strategy meetings and workshops daily. Regional/Global Headquarter Reporting on Regional & Global Projects of Generic Insurance MIS reporting and MarCom on monthly basis

  
  

Qualifications:

Education:

·       Graduate with preferably Master’s in business administration

Experience:

·       Minimum 8-10 years’ experience in Insurance sales and preferably with Ops experiences.

·       Experience in insurance claims processing would be an additional advantage

Competencies:

Team working, results orientated ability to solve problems and strong man management skills, excellent negotiating skills, develops relationships with other teams, self-driven, willing to travel.

Excellent Excel & PPT skills, Analytical and data mining skills 

Fluent oral & written English