Head Lapse Management

Michael Page; Mumbai; On-site; INR 1,500,000 - 2,000,000; Full time

Benefits offered by this job

Competitive salary package

Opportunities for professional growth

Inclusive company culture

Supportive work environment

Job summary

Michael Page is looking for a Head of Lapse Management in Mumbai to enhance customer retention in the life insurance sector. The ideal candidate will have expertise in customer retention strategies and analytics, as well as leadership skills. Key responsibilities include developing strategies to reduce lapse rates, collaborating with teams for targeted initiatives, and ensuring regulatory compliance. The position offers a competitive salary and opportunities for professional growth within a supportive organizational culture.

Qualifications

• Strong understanding of the life insurance industry and lapse management processes.
• Proven expertise in executing customer retention strategies.
• Experience in implementing targeted initiatives across departments.
• Excellent analytical skills to interpret customer behaviour and lapse trends.
• Strong leadership abilities to guide and manage a team effectively.
• Knowledge of regulatory standards within the insurance industry.

Responsibilities

• Develop and implement strategies to reduce lapse rates across life insurance policies.
• Analyse customer behaviour and identify trends that may lead to policy lapses.
• Collaborate to design targeted retention campaigns.
• Monitor and report on lapse management initiatives.
• Enhance customer engagement through innovative communication strategies.
• Provide insights to senior leadership for improvement.
• Ensure compliance with regulations in all activities.
• Lead and mentor a team to achieve retention goals.

Skills

Customer retention strategies

Data-driven decision-making

Analytical skills

Leadership abilities

Collaboration across departments

Education

Degree in business management, insurance, or related field

Job description

Benefits

• Competitive Pay
• Opportunity to lead a PAN India vertical

About Our Client

This is an opportunity to join a large organization in the life insurance industry, known for its robust market presence and commitment to delivering innovative solutions. The company operates in a highly competitive market and focuses on offering tailored insurance products to meet the diverse needs of its customers.

Job Description

• Develop and implement strategies to reduce lapse rates across life insurance policies.
• Analyse customer behaviour and identify trends that may lead to policy lapses.
• Collaborate with internal teams to design targeted retention campaigns and interventions.
• Monitor and report on the effectiveness of lapse management initiatives.
• Enhance customer engagement by introducing innovative communication strategies.
• Provide insights to senior leadership on areas for improvement in customer retention.
• Ensure compliance with regulatory requirements and internal policies in all activities.
• Lead and mentor a team to achieve retention goals within the life insurance sector.

The Successful Applicant

A successful Head Lapse Management should have:

• A strong understanding of the life insurance industry and lapse management processes.
• Proven expertise in customer retention strategies and data-driven decision-making.
• Experience in collaborating across departments to implement targeted initiatives.
• Excellent analytical skills to interpret customer behaviour and lapse trends.
• Strong leadership abilities to guide and manage a team effectively.
• Knowledge of regulatory standards within the insurance industry.
• A degree in business management, insurance, or a related field is preferred.

What's on Offer

• A competitive salary package within the life insurance industry.
• Opportunities for professional growth and leadership development.
• A chance to work in a large organization with a strong market presence in Mumbai.
• Inclusive company culture and a supportive work environment.