Deputy Manager - Underwriting Governance & Audit

Axis Max Life Insurance Limited; Gurugram District; Remote; INR 1,400,000 - 2,000,000; Full time

Job summary

Axis Max Life Insurance Limited, a joint venture between MFSL and Axis Bank, seeks a Deputy Manager for Underwriting Governance & Audit. The role focuses on thematic audits, governance framework development, and QC management within life underwriting.

Responsibilities include preparing dashboards, coordinating with internal teams, and driving training to improve governance and risk controls. A background in insurance and strong analytical skills are essential for success.

Qualifications

• Graduate / Post-Graduate in Insurance, Medicine, Pharmacy, or related field.
• Minimum 4–6 years of experience in Life Underwriting, Risk, Governance, QC, or Audit functions.
• Strong knowledge of Life & Health underwriting principles.
• Proficiency in MS Office, analytics, dashboards, and business writing skills.

Responsibilities

• Conduct thematic and deep-dive audits across underwriting processes to identify risks and improvement opportunities.
• Develop and ensure adherence to the Underwriting Governance framework and policies.
• Coordinate with internal audit, assurance, compliance, and underwriting teams for closure of audit observations.
• Provide re-underwriting opinions for claims cases and support QC governance.
• Prepare monthly QC dashboards, thematic audit reports, and exception summaries for stakeholders.

Skills

Analytical thinking

Cross-functional collaboration

Detail orientation

Problem solving

Education

Graduate or Post-Graduate in related field

Insurance exams (IIEI, LOMA, ALU)

Tools

MS Office

MS Excel

Dashboards

Data visualization

Job description

Deputy Manager - Underwriting Governance & Audit

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About Axis Max Life

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a joint venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited.

Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery, and a well-trained human capital.

Axis Max Life has been consistently ranked among the best workplaces by the GPTW Institute, reflecting its commitment to creating a positive and empowering work environment.

#ComeAsYouAre LGBTQIA+ and PwD candidates of all ages are encouraged to apply

Job Description

Job Description

Deputy Manager– Underwriting Governance

Function: Operations

Department: Underwriting Governance & Audit

Reporting to: Chief Manager – Underwriting Governance

KEY RESPONSIBILITIES

1. Thematic Audits & Governance Activities

• Support in conducting thematic and deep‑dive audits across underwriting processes to identify risks, gaps, and improvement opportunities.
• Support development and execution of the Underwriting Governance framework, ensuring adherence to internal policies and regulatory norms.
• Coordinate with internal audit, assurance, compliance, and underwriting teams for timely closure of audit observations
• Provide Re-underwriting opinion for claims cases
• CMO QC and Vendor QC for cardiac tests opinions

2. Quality Control (QC) Management

• Assist in STP QC, including sampling, accuracy checks, error identification, reporting, and trend analysis.
• Assist Term & Non‑Term QC cases, ensuring timely completion and accurate reporting of findings.
• Ensure end‑to‑end closure of all QC cases and maintain governance documentation.

3. Reporting & Insights

• Prepare and publish monthly QC dashboards, thematic audit reports, and exception summaries for stakeholders.
• Evaluate data for trend spotting, risk identification, and improvement recommendations.
• Highlight outages and validate findings in coordination with underwriting and internal audit teams.

4. Stakeholder Management

• Collaborate with underwriting production managers to improve overall decision accuracy and governance adherence.
• Collaborate with URMU, IT, Audit, Assurance, and related teams for smooth governance operations.

5. Training & Capability Building

• Conduct case clinics, trainings, mentoring sessions, and refreshers based on audit and QC findings.
• Drive improvement in QC scores through structured feedback and continuous learning interventions.

MEASURES OF SUCCESS

• Quality and timeliness of STP QC and Term/Non‑Term QC cycles.
• Accuracy and effectiveness of thematic audits and closure timelines.
• Quality and clarity of dashboards and governance reports.
• Reduction in recurring errors and improvement in underwriting accuracy.
• Stakeholder satisfaction and collaboration effectiveness.

OTHER RESPONSIBILITIES

• Contribute to governance‑related projects and process improvement initiatives.
• Maintain a positive, collaborative environment in line with organizational values

KEY RELATIONSHIPS

Internal: Underwriting, Internal Audit, Internal Assurance, AI Works team, URMU, IT, Operations
External: Auditors / Consultants (if applicable)

COMPETENCIES REQUIRED

• Strong analytical & logical thinking skills.
• Ability to collaborate effectively across functions.
• Detail orientation and risk‑based approach.
• Creativity in problem‑solving and process improvement.

QUALIFICATIONS & EXPERIENCE

• Graduate / Post‑Graduate—preferably in Insurance, Medicine, Pharmacy, or related field.
• Insurance related examinations – Insurance Institute of India, LOMA and ALU
• Minimum of 4 - 6 years of experience in Life Underwriting, Risk, Governance, QC, or Audit functions.
• Strong knowledge of Life & Health underwriting principles.
• Experience in Medical underwriting and process enhancements.
• Proficiency in MS Office, analytics, dashboards, and business writing skills.