Senior Expert, Policy Service (Insurance Project)

Job Description

Job Purpose

The Senior Expert, Policy Service, will play a crucial role in establishing the policy administration function for a newly launched life insurance company. This role is responsible for setting up and managing policy servicing processes, developing Standard Operating Procedures (SOPs), collaborating with IT to implement policy administration systems, and ensuring seamless customer interactions. The Senior Expert will also work closely with Techcombank to integrate data-driven policy management, ensuring a smooth and efficient policy lifecycle experience for customers while complying with regulatory and business requirements.

Key Responsibilities

Policy Service Setup & SOP Development

- Develop and implement Standard Operating Procedures (SOPs) for policy servicing, ensuring efficiency and compliance.

- Design end-to-end policy service workflows, covering policy issuance, endorsements, renewals, and cancellations.

- Ensure policy service processes align with regulatory requirements and internal controls.

Collaboration with IT & Digital Transformation

- Define business requirements for IT teams to implement a robust policy administration system.

- Work with IT and digital teams to automate policy servicing processes and integrate customer self-service portals.

- Ensure seamless integration of policy service functions with underwriting, claims, and customer service platforms.

Stakeholder Engagement & Collaboration with Techcombank

- Work with Techcombank’s customer service and distribution teams to provide seamless policy servicing support.

- Define and integrate data flows between the bank and the insurance company to facilitate efficient policy management.

- Develop service-level agreements (SLAs) with Techcombank to ensure a consistent customer experience across channels.

Regulatory Compliance & Governance

- Ensure policy service operations comply with local insurance regulations and industry best practices.

- Collaborate with compliance and legal teams to maintain accurate documentation and reporting.

- Monitor regulatory updates and adjust policy service procedures accordingly.

Customer-Centric Policy Service Experience

- Develop and implement service strategies that enhance customer satisfaction and retention.

- Introduce digital self-service options, such as policy updates, premium payments, and customer requests.

- Monitor customer feedback and service metrics to continuously improve policy servicing efficiency.

Collaboration with Third-Party Service Providers

- Engage with external vendors such as customer service providers, document management firms, and digital payment platforms.

- Negotiate and monitor service-level agreements (SLAs) to ensure high-quality service delivery.

- Ensure effective third-party integration into policy servicing workflows.

Performance Monitoring & Continuous Improvement

- Define and track key performance indicators (KPIs) for policy servicing operations, including processing time, customer response rates, and accuracy.

- Analyze policy service data to identify trends, potential inefficiencies, and areas for process optimization.

- Implement process enhancements to improve turnaround times and operational efficiency.

Job Requirement

Qualifications and Experience

Education

- Bachelor's or Master’s degree in Business Administration, Finance, Insurance, Information Technology, or a related field.

Experience

- Minimum of 7-10 years of experience in life insurance policy administration, including setting up policy servicing functions.

- Experience in defining SOPs, developing policy workflows, and implementing policy service systems.

- Proven track record in digital transformation of policy administration, including automation and self-service platforms.

- Experience working with distribution partners, particularly in bancassurance environments, to ensure smooth policy servicing.

- Exposure to regulatory compliance and governance requirements in the insurance industry.

Skills & Competencies

- Policy Administration & Workflow Development – Strong ability to design and optimize policy servicing processes.

- Regulatory & Compliance Knowledge – Deep understanding of Vietnam’s insurance regulations related to policy administration.

- IT & Digital Transformation – Experience in working with IT teams to implement policy service systems and automation tools.

- Stakeholder & Third-Party Management – Strong skills in engaging with Techcombank, regulators, and external service providers.

- Customer-Centric Approach – Ability to ensure policy service operations enhance the overall customer experience.

Personal Attributes

- Detail-Oriented & Analytical – Strong ability to manage complex policy service processes with accuracy and compliance.

- Proactive & Solution-Oriented – Capable of setting up policy service functions from scratch while anticipating future needs.

- Customer-Focused – Ensures policy servicing is seamless, efficient, and aligned with customer expectations.

- Leadership & Initiative – Capable of driving policy administration transformation and operational setup in a startup environment.

- Collaborative & Strategic Thinker – Works effectively with internal teams, Techcombank, and third-party service providers.