Job Description

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

At Prudential India Health, we are on a mission to make Indians healthier, while bridging the health protection gap. We are a Zero to One team, committed to build journeys that will truly empathize with the customer and offer a differentiated, bespoke Prudential experience. To partner us in this mission, we are looking for a talented…

Lead - Group Underwriting

As a Lead – Group Underwriting Management, your typical week might include the following.

  • Design, implement, launch, and manage a customer-centric group underwriting function/ workflow powered by Data & Technology
  • Develop and evolve detailed standard operating procedures for comprehensive and seamless functioning of Onboarding and Underwriting management processes. 
  • Build processes and teams with a focus on automation, scalability, and productivity
  • Collaborate with functions including but not limited to Technology, Product & Actuarial, Claims, Compliance, Risk Management, Sales and Finance; represent group Underwriting function in cross-functional implementations
  • Responsible for day in day out group underwriting of new business/renewal. Creation of RFQs, Clearance of quotations as per the group underwriting SOP
  • Creating guidelines or risk mitigation, data collection templates for generating quotations.
  • Working on automating of system generated quotation process and further Iterations and repricing 
  • Quick and efficient liaising with Relationship managers, broker partners and the client for the conversion of the quote. 
  • Ensuring clearance of day-to-day inward of referred quotations, meeting the desired/promised SLAs
  • Evaluate and arrive right pricing for the quote basis all the levers considered to anticipate and arrest any possible leakages 
  • Review evidence on previous claims experience, burning cost, IBNR, coverages opted and other rating factors to arrive on the best possible quotation 
  • Effective Communication with relationship managers/Distribution on the rationale adapted 
  • Work with the various internal teams as a SPOC of Underwriting in the process of designing workflow for group customers & would be responsible for documenting underwriting requirements
  • Conduct market research/ market requirement study on underwriting practices and availability of products and benefits.
  • Create bundled/package plans for the partners with pricing and coverages in collaboration with Actuarial and claims team 
  • Collaborate for system configuration, communications with ops, marketing etc., 
  • Able to coordinate and work closely on creating KPI to monitor the group performance.

    • You could be the right candidate if you…

  • Postgraduate or Graduate with great understanding of Group health business 
  • Have 12-14 years’ experience of Insurance and at least 6yrs experience in group Underwriting.
  • Understand and able to create innovative plans and packages in the group health space with great inclination towards digital journey, process efficiency and data analytics
  • Understand underwriting operations, workflow and servicing model, smart underwriting nudges for effective quote engine and rating calculator to ensure less leakages
  • You have a knack for motivating fellow underwriters to go the extra mile while supporting other stakeholders
  • Good hands on excel, power query, data analytics, SQL or any other tools 
  • Can make informed decisions, swiftly and are adept at creative problem solving; have good judgment and analytical skills 
  • Have excellent verbal and written communication skills and strong negotiation skills.
  • Thrive in environments that celebrate co-creation and collaboration.
  • Have high resilience – can manage yourself, your teams and your peers when faced with ambiguity or failure.

    • This could be the gig for you if you…

  • Are passionate about consumer behavior and culture; enjoy spending time with customers to understand what they want. Have an attentive ear to listen to new ideas. 
  • Join hands with other colleagues to solve for the customer.
  • Like to work in a culture where everyone can see what others are doing. 
  • Take help from others when stuck and encourage others when there are setbacks.
  • Take full responsibility for your team’s contribution output while thinking wing-to-wing across the organization.
  • Have strong clinical knowledge and clinical decision-making skills
  • Have built best-in-class processes from scratch
  • Are passionate about leveraging digital tools to transform customer experience

    • Location: Mumbai

    Title: Senior Manager / Lead – Group Underwriting

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