Head - New Business Operations - Life insurance

Hector And Streak Consulting; Mumbai; On-site; INR 6,000,000 - 9,000,000; Full time

Job summary

Hector And Streak Consulting seeks a Head of New Business Operations for a life insurance client in Mumbai. This senior role leads the central NB Operations from customer onboarding through policy issuance, ensuring efficiency, quality, and governance across channels and processes.

The role focuses on process improvement, turnaround time, and customer experience, coordinating with underwriting, sales, tech, risk, and compliance teams to deliver seamless onboarding and policy issuance in a

Qualifications

• Proven leadership of central operations teams.
• Experience in life insurance or financial services operations.
• Strong understanding of onboarding to policy issuance lifecycle.
• Knowledge of IRDAI regulations and governance.

Responsibilities

• Lead the central New Business Operations function from onboarding to policy issuance.
• Manage end-to-end new business processing including proposal data validation and underwriting coordination.
• Ensure timely and accurate onboarding and policy issuance within defined TATs.
• Coordinate with Underwriting, Sales, Distribution, Technology, Compliance, Risk, Finance and Customer Service.
• Establish and monitor SOPs, processes, controls and service standards for new business operations.
• Track metrics like TAT, volumes, issuance ratios and error rates; drive improvements.

Skills

Leadership

Operations management

IRDAI compliance

Process governance

Stakeholder management

Data analytics

Education

MBA in Insurance

Tools

MIS dashboards

ERP systems

Workflow automation

Job description

Hi,

Greetings,

The position is with Life Insurance and they are looking for Head- New Business Operations

Location Mumbai

The Head New Business Operations will be part of the COO structure and will be responsible for managing and overseeing all central new business operations, from customer onboarding through to policy issuance.

The role will ensure smooth, efficient and compliant processing of new business across channels, with a strong focus on operational efficiency, turnaround time, quality, customer experience and process governance.

Key Responsibilities

• Lead the central New Business Operations function covering the complete process from customer onboarding to policy issuance.
• Manage end-to-end new business processing, including proposal processing, data validation, documentation, underwriting coordination, issuance and related operational activities.
• Ensure timely and accurate customer onboarding and policy issuance within defined TATs and service-level standards.
• Oversee operational coordination with Underwriting, Sales, Distribution, Technology, Compliance, Risk, Finance and Customer Service teams.
• Establish and monitor SOPs, processes, controls and service standards for new business operations.
• Monitor key operational metrics including TAT, pending cases, processing volumes, issuance ratios, error rates and productivity.
• Identify process gaps and drive process simplification, automation and digitisation to improve operational efficiency.
• Ensure appropriate quality checks and operational controls across the new business lifecycle.
• Ensure compliance with applicable IRDAI regulations, internal policies and governance requirements.
• Manage operational escalations and ensure timely resolution of complex or high-priority cases.
• Develop and maintain MIS, dashboards and management reports for tracking operational performance and business volumes.
• Work with technology teams to improve workflow systems, automation, straight-through processing and digital onboarding.
• Drive continuous improvement initiatives to reduce TAT, manual intervention, operational errors and processing costs.
• Build, manage and develop a high-performing central operations team.
• Establish appropriate governance mechanisms and conduct regular reviews with internal stakeholders and senior management.
• Support the COO in developing and implementing the organisation's operations strategy and transformation agenda.