VP - Persistency and Renewals

Michael Page; Mumbai; On-site; INR 3,500,000 - 6,000,000; Full time

Benefits offered by this job

Opportunity to head the renewal business

Part of the leadership team

Job summary

A leading life insurance company in Mumbai is looking for an experienced professional to head the renewal business. This role involves defining and executing the renewal strategy, managing end-to-end renewal processes, and leading teams focused on customer retention. Candidates should have over 15 years of life insurance experience and proven leadership in managing renewals or servicing teams. This is a senior leadership position with significant responsibilities and opportunities for growth.

Qualifications

• 15+ years of experience in Life Insurance operations, renewals, or servicing.
• Prior experience leading large renewal or customer retention teams is preferred.
• Graduate or postgraduate degree; MBA preferred.

Responsibilities

• Define and execute renewal and persistency strategy across all life insurance products.
• Oversee end-to-end renewal processes including notices, follow-ups, and policy continuance.
• Design customer engagement programs to reduce lapsation and improve loyalty.
• Track and analyze persistency metrics and renewal KPIs.
• Ensure adherence to regulatory guidelines and internal policies.
• Drive automation and digitization of renewal workflows to reduce lapses.
• Design customer engagement programs to reduce lapsation and improve loyalty.
• Track persistency metrics and prepare MIS for senior management.

Skills

Understanding of life insurance products and renewal economics

Expertise in persistency management

Leadership and stakeholder management skills

Analytical and MIS capabilities

Customer-centric approach

Stakeholder management

Education

Graduate / Postgraduate (MBA preferred)

Job description

About Our Client

Our client is a leading life insurance company headquartered Mumbai

Job Description

Key Responsibilities

Strategy & Leadership

• Define and execute the company's renewal and persistency strategy across all life insurance products
• Own renewal targets, persistency ratios, and renewal premium growth
• Build and lead high-performing renewal, servicing, and retention teams
• Partner with Sales, Digital, Customer Service, and Actuarial teams to improve renewal outcomes

Renewal Operations

• Oversee end-to-end renewal processes including notices, follow-ups, collections, and policy continuance
• Ensure timely and accurate renewal premium collections through all channels (agency, bancassurance, digital, call centers)
• Drive automation and digitization of renewal workflows to improve efficiency and reduce lapses

Customer Retention & Experience

• Design customer engagement programs to reduce lapsation and improve loyalty
• Analyze lapse trends and implement targeted interventions for high-risk segments
• Ensure consistent, compliant, and customer-friendly renewal communications

Analytics & Performance Management

• Track and analyze persistency metrics (13M, 25M, 37M, etc.) and renewal KPIs
• Use data insights to forecast renewals, identify gaps, and drive corrective actions
• Prepare MIS, dashboards, and presentations for senior management and the board

Compliance & Risk Management

• Ensure adherence to IRDAI / regulatory guidelines and internal policies
• Manage audits, grievance redressals, and regulatory reporting related to renewals
• Minimize operational, reputational, and compliance risks

The Successful Applicant

Key Skills & Competencies

• Strong understanding of life insurance products and renewal economics
• Expertise in persistency management and lapse reduction strategies
• Proven leadership and stakeholder management skills
• Data-driven mindset with strong analytical and MIS capabilities
• Customer-centric approach with operational excellence

Qualifications & Experience

• Graduate / Postgraduate (MBA preferred)
• 15+ years of experience in Life Insurance operations, renewals, or servicing
• Prior experience leading large renewal or customer retention teams preferred

What's on Offer

Opportunity to head the renewal business of a large life insurance player
Opportunity to be part of the leadership team