Persistency

Role Details

• Designation Manager 2 / Senior Manager 1
• Department Policybazaar
• Location Mumbai

Role Summary

• Own and drive policy quality and profitability for Policybazaar channel by improving persistency, reducing early claim risk, and optimizing issuance conversion & TAT through data-driven interventions and strong cross-functional collaboration.

Key Responsibilities

1. Persistency Management

• Own 13th month / 25th month persistency for Policybazaar-sourced policies
• Design and execute retention strategies
• Identify drop-off cohorts and run targeted interventions
• Work with CRM/MarTech teams for automated renewal journeys
• Monitor persistency by
• Product
• Customer segment
• Sales pitch quality

2. Early Claims Management (Risk & Quality Control)

• Track and analyze early claims (within 2-3 years) for the channel
• Identify fraud / mis-selling patterns
• Work with underwriting and claims teams to
• Tighten issuance guidelines
• Implement pre-issuance checks
• Create feedback loops with Policybazaar to improve lead quality
• Maintain dashboards for
• Early claim ratio
• Claim repudiation trends
• Root cause analysis

3. Issuance & Conversion Optimization

• Drive lead-to-policy conversion (issuance TAT and efficiency)
• Identify bottlenecks in
• Medicals
• Documentation
• Payment failures
• Collaborate with
• Operations team for faster TAT
• Tech team for journey improvements
• Policybazaar team for lead quality improvement
• Optimize straight-through processing (STP) rates
• Improve customer experience during purchase journey

4. Channel Collaboration (Policybazaar)

• Act as SPOC for quality metrics with Policybazaar
• Participate in
• Weekly/monthly governance reviews
• Business performance discussions
• Align on
• Lead quality improvements
• Customer communication strategies
• Campaign effectiveness

5. Analytics & Reporting

• Build and manage dashboards for
• Persistency
• Issuance conversion
• Early claims
• Use tools like
• Excel / SQL / BI tools
• Generate actionable insights and recommend interventions
• Conduct cohort analysis and predictive modeling for
• Lapse probability
• High-risk customers

6. Process & Governance

• Define SOPs for
• Issuance quality checks
• Claims investigation triggers
• Ensure compliance with
• IRDAI guidelines
• Internal risk frameworks
• Drive continuous improvement initiatives

Skills & Attributes

• Strong problem-solving and analytical skills.

• Understanding of life insurance value chain (sales to claims)
• Excellent stakeholder management skills.
• Strong communication and presentation skills with the ability to interact with senior stakeholders.
• High attention to detail and ability to work in a fast-paced, dynamic environment.

Educational Qualification / Experience

• MBA from a Tiered institute with 3+ years of experience in BFSI, consulting or strategy roles