Customer Retention & Operations Manager (Banca channel)

Bwise Solutions; Bhopal; On-site; INR 900,000 - 1,300,000; Full time

Job summary

Bwise Solutions in India seeks a seasoned professional to manage and optimize Bancassurance operations across bank branches. You will coordinate with Branch Managers, RM and Sales teams, monitor policy issuance, renewals, and persistency, and drive retention through proactive customer follow-up and MIS reporting.

Ideal candidate has extensive Life Insurance operations experience, strong Excel/MIS skills, and proven ability to collaborate with banking partners to improve renewal collections and

Qualifications

• Graduate/MBA preferred.
• 26 years of experience in Life Insurance / Bancassurance / Insurance Operations.
• Experience in Banca Operations, Persistency, Renewal or Retention.
• Good understanding of life insurance policy lifecycle, renewals, premium collections and persistency.
• Strong knowledge of MS Excel, MIS and reporting.
• Good communication, coordination and stakeholder-management skills.
• Ability to coordinate with multiple bank branches and insurance teams.
• Strong analytical and problem-solving skills.

Responsibilities

• Manage and monitor day-to-day Banca channel operations across assigned bank branches.
• Coordinate with Branch Managers, Relationship Managers, Sales Managers and bank teams to ensure smooth business operations.
• Monitor policy login, issuance, pending cases, medicals, underwriting and documentation.
• Track and improve persistency ratios by monitoring policy continuation and identifying lapse-risk cases.
• Drive policy retention through regular follow-up with customers and bank/sales teams.
• Monitor renewal collections and ensure timely follow-up on upcoming and overdue renewal premiums.
• Prepare and share renewal, persistency, retention and collection MIS on a regular basis.
• Identify customers/policies at risk of lapse and coordinate with the concerned teams for renewal and retention activities.
• Follow up with bank branches and sales teams for pending renewal payments and collection cases.
• Monitor 13th-month, 25th-month and subsequent persistency as per company requirements.
• Track lapse, revival and surrender cases and identify reasons for policy discontinuation.
• Support teams in improving customer retention and renewal conversion.
• Coordinate with customer service, operations and sales teams to resolve customer issues affecting renewal and policy retention.
• Ensure timely resolution of branch and customer queries related to policy servicing, renewals and premium payments.
• Maintain accurate records of business, renewals, collections, persistency and retention performance.
• Prepare daily/weekly/monthly MIS and performance dashboards for management review.
• Ensure compliance with company processes, KYC requirements and IRDAI guidelines.
• Identify operational gaps and implement corrective actions to improve TAT, customer service, renewal collections and persistency.
• Conduct regular performance reviews with bank branches and sales teams and highlight areas requiring improvement.

Skills

MS Excel

MIS & reporting

Stakeholder management

Communication

Bank coordination

Analytical thinking

Problem solving

Education

Graduate/MBA preferred

Tools

MS Excel

Job description

• Manage and monitor day-to-day Banca channel operations across assigned bank branches.


• Coordinate with Branch Managers, Relationship Managers, Sales Managers and bank teams to ensure smooth business operations.


• Monitor policy login, issuance, pending cases, medicals, underwriting and documentation.


• Track and improve persistency ratios by monitoring policy continuation and identifying lapse-risk cases.


• Drive policy retention through regular follow-up with customers and bank/sales teams.


• Monitor renewal collections and ensure timely follow-up on upcoming and overdue renewal premiums.


• Prepare and share renewal, persistency, retention and collection MIS on a regular basis.


• Identify customers/policies at risk of lapse and coordinate with the concerned teams for renewal and retention activities.


• Follow up with bank branches and sales teams for pending renewal payments and collection cases.


• Monitor 13th-month, 25th-month and subsequent persistency as per company requirements.


• Track lapse, revival and surrender cases and identify reasons for policy discontinuation.


• Support teams in improving customer retention and renewal conversion.


• Coordinate with customer service, operations and sales teams to resolve customer issues affecting renewal and policy retention.


• Ensure timely resolution of branch and customer queries related to policy servicing, renewals and premium payments.


• Maintain accurate records of business, renewals, collections, persistency and retention performance.


• Prepare daily/weekly/monthly MIS and performance dashboards for management review.


• Ensure compliance with company processes, KYC requirements and IRDAI guidelines.


• Identify operational gaps and implement corrective actions to improve TAT, customer service, renewal collections and persistency.


• Conduct regular performance reviews with bank branches and sales teams and highlight areas requiring improvement.

Key Performance Areas (KPIs)

• New Business Operations


• Renewal Collections


• Persistency Ratio


• Policy Retention


• Lapse & Revival Management


• Customer Retention


• Branch/Bank Coordination


• MIS & Reporting


• Policy Servicing & TAT


• Compliance & Process Adherence

Candidate Profile

• Graduate/MBA preferred.


• 26 years of experience in Life Insurance / Bancassurance / Insurance Operations.


• Candidates with experience in Banca Operations, Persistency, Renewal or Retention will be preferred.


• Good understanding of life insurance policy lifecycle, renewals, premium collections and persistency.


• Strong knowledge of MS Excel, MIS and reporting.


• Good communication, coordination and stakeholder-management skills.


• Ability to coordinate with multiple bank branches and insurance teams.


• Strong analytical and problem-solving skills.