Deputy Manager – Insurance Operations

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Marsh Risk is seeking candidates to join our Insurance Operations Team based in the Mumbai office. This is a hybrid role that requires working in the office at least three days a week.

Deputy Manager – Insurance Operations (D1)

What can you expect?

• An opportunity to enhance people, process management skills.
• Exposure to manage complex premium processes in the Insurance Domain.
• Freedom to challenge status quo, contribute to new ideas and undertake continuous improvement initiatives.
• Within the first 30 days, we expect you to gain in-depth knowledge of the service you would handle & understand the role requirements. Within 60 days, attain competency & establish good relationship with all colleagues & onshore stakeholders & finally within 90 days, be able to manage the team seamlessly with limited support
• As a new colleague, you will be provided with Business Overview/Insights, team structure & operating model, roles & responsibilities for each level, expectations of various stakeholders to make you successful in this role.

We will count on you for:

Process Management:

• Comprehensive Understanding: Maintain a thorough understanding of the general insurance business, demonstrating a keen eye for detail. Act as a point of escalation for complex Premiums and client concerns, providing expert guidance and support.
• Continuous Improvement: Learn the Premiums process, deliver results per company standards, and rigorously pursue improvements in business performance.
• Root Cause Analysis: Conduct root cause analyses and develop structured plans to ensure successful outcomes.
• Seamless Migrations: Manage system and work transfers effectively by proactively identifying roadblocks, providing solutions, and ensuring timely execution.
• Efficiency Gains: Explore opportunities for efficiency improvements within the Premiums process.
• Operational Excellence: Provide operational expertise on assigned work, serving as a referral point for administrative queries.
• Regular Communication: Maintain regular contact with the UK team regarding their client portfolios to ensure alignment and support. Work closely with cross-functional teams including Placing, Accounting etc.
• Stay Informed: Keep yourself and your team updated on all technical changes and understand the nuances of the Premiums process.
• Ideas & Automation – Lead initiatives to automate repetitive tasks and streamline workflows, leveraging technology to enhance efficiency and reduce manual errors. Collaborate with IT and other departments to implement automation tools that support the team’s objectives and improve overall productivity.

Compliance, Regulatory and Procedural Responsibilities

• Ensure that all statutory regulations and company procedures are followed to protect clients, colleagues and the business interests of the company
• Adheres to the contents of the Operating Procedures Manual (OPM)
• Contributes to a successful audit score
• Be actively involved in managing FMEA, BIA, Risk Register and all compliance related documents as per the defined timelines.
• Timely updation of compliance documents and sharing of reports with management.
• Identifies and evaluates risks appropriately
• Recognizes how own & team actions impact on compliance and regulatory requirements
• Keeps up to date with industry changes and developments

People Management:

• Capacity Management: Effectively manage capacity, planning, and forecasting to meet operational demands.
• Performance Reviews: Conduct monthly performance reviews and appraisals within agreed timelines, providing real-time feedback to team members.
• Succession Planning: Identify and develop individuals for advancement, supporting bottom quartile colleagues with Performance Improvement Plans.
• Attrition Management: Manage attrition in accordance with company standards, utilizing a strong Early Warning System (EWS) for early detection.
• Stakeholder Relationships: Develop effective relationships with internal and external stakeholders, actively participating in meetings and discussions.
• Continuous Improvement Culture: Embed a culture of continuous improvement by motivating and influencing teams to drive process enhancements.
• Central Project Participation: Actively participate in central projects aimed at increasing operational efficiencies.
• Problem Identification: Identify recurring problems and seek long-term solutions to enhance team performance.
• Performance Management: Recognize when performance is lacking and take a constructive approach to address issues.
• Positive Change Attitude: Maintain a positive attitude towards change and embrace its advantages.
• Organized Approach: Tackle challenges in a logical, disciplined, and well-organized manner.
• Continuous Learning: Encourage a culture of continuous learning and development within the team, promoting training opportunities and knowledge sharing to enhance skills and expertise.

What you need to have:

• Good command over spoken and written English
• Superior comprehension and articulation skills
• Eye for detail and innovative mindset
• Ability to problem solve and take decisions.
• Ability to adapt to changes and drive results
• Ability to combine & translate individual effort into team performance
• Within the company: Interaction with stakeholders as per requirements.
• Outside the company: Interaction with clients, markets/insurers, adjusters

Education: Graduate

Experience: 3-4 years of experience in the insurance broking domain.

What makes you stand out?

• CII certification
• Leading teams managing complex insurance premiums process.

Why join our team:

• We help you be your best through professional development opportunities, interesting work and supportive leaders.
• We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities.
• Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being.

Marsh Risk is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $24 billion and more than 90,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information about Marsh Risk, visit marsh.com, or follow us on LinkedIn and X.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, caste, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.

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