Customer Retention Officer

Axis Max Life Insurance Limited; Delhi; On-site; INR 300,000 - 500,000; Full time

Job summary

Axis Max Life Insurance Limited is looking for a Customer Retention Officer in Delhi. The role involves managing customer relations, achieving renewal targets, and providing high-quality service. Candidates should possess strong communication skills and should effectively handle customer queries and grievances.

The ideal applicant will have a graduation degree and prior experience in customer service or insurance. Strong process orientation and an ability to work under pressure are essential for success. Previous experience in a retention team is an added advantage.

Qualifications

• Prior experience in insurance type roles is needed.
• Experience in customer service is essential.
• Experience in renewal retention team is an advantage.

Responsibilities

• Responsible for achieving renewal collection targets.
• Maintain daily customer trackers for renewals.
• Convince customers to renew their insurance policies.
• Handle customer escalations and queries effectively.
• Follow up on critical documents required for service.
• Ensure timely completion of assigned activities.

Skills

Effective communication skills

Ability to handle pressure

Process orientation

Education

Graduation in any stream

Job description

Job Details

• Position: Customer Retention Officer
• Number of Positions: 1
• Department: Customer Retention Team
• Function: Operations
• Reporting to: Manager – Collections
• Band: 5
• Location: Delhi 1
• Last Date of Submission: (not specified)

Key Responsibilities

• Sole responsibility of targets basis allocated base on:
  1. Renewal collection and persistency targets through customer calling or physical visits to customer residences with prior appointment
  2. Ensure maintenance and sharing of daily customers’ trackers and conversion thereof, including review with Manager-Collections
  3. Convince customers and get renewal premium and policy continuation to continue insurance and giving retention tools like mode change, partial withdrawal, PUA surrender, loan, etc.
  4. Timely depositing the cheque at the nearest MLI branch or bank branch within 24 hours of the cheque collection
  5. Effectively handle customer escalations, 100% resolution of customer queries and concerns including tracking of service requests raised, providing clarity to required customers on special revival scheme, change in term, short premium bucket to resolve financial constraint and retain customers
  6. Ensure follow up on critical documents like Health Declaration Form, tele underwriting/home visits medical, ECS Mandate, complaint letters on silent grief and obtaining new contact details/update through branch operations
• Measure of Success:
  • 100% completion of assigned activities by the 7th of every month
  • Completing daily face-to-face meetings as per goal sheet
  • Driving Top 30 high-value cases with 100% meeting
  • Providing 100% resolution to customer's query
  • 100% tracking and timely closure of service requests if logged for any of the allocated customers
  • Maximizing positive portfolio (Promise to Pay) by providing right advice to customers to continue insurance and giving retention tools like mode change, partial withdrawal, PUA surrender, loan
  • Driving special revival scheme and change in term to resolve financial constraint
  • Ensuring 100% meetings on silent grief cases
  • Collecting written grievance from the customer and getting it logged in system
  • Percentage of customer retention from allocated base surrendering the policies by explaining insurance benefits, ULIP retention tools, switching, long-term growth, comparison with other financial products
  • Conversion of non-ECS base to E-NACH/ECS by explaining benefits of continuing policy on E-Nach/ECS for huddle-free payment
  • Ensuring collection and registration along with necessary documents of auto-pay mandates from customers on non auto-pay

Desired Qualifications and Experience

• Graduation in any stream with prior experience in insurance, customer services profile. Prior experience in renewal retention team is an added advantage.

Knowledge and Skills Required

• Ability to handle pressure and work in a competitive environment. Open to learning, very high process orientation, effective communication skills. Should have a personal vehicle and smart phone.