Policy Servicing Manager (Policy Changes & Conservation)

Zurich Insurance; Kuala Lumpur; On-site; MYR 70,000 - 90,000; Full time

Job summary

Zurich Insurance Malaysia is seeking an experienced operations professional to oversee daily processing of policy servicing requests, policy changes and related transactions for Life and Family Takaful, ensuring timely completion within established benchmarks and regulatory requirements.

You will lead quality assurance activities, engage in system enhancements and UAT, and collaborate with Distribution, IT, Finance, Compliance and Risk teams to drive process improvements and maintain high

Responsibilities

• Supervise and coordinate the day-to-day processing of policy servicing requests, ensuring compliance with internal procedures, service standards, regulatory requirements, and turnaround times.
• Oversee the accurate processing of:
• Financial & Non-Financial Changes
• Nomination/Hibah/Wasi
• Assignment/Release Assignment
• Single Top-Up
• Switching or Transfer of Units
• Extended Term Insurance & Reduced Paid Up
• Change of Servicing Agent
• Issuance of reprint contract
• Due Diligence Checking
• Quality assurance sampling checking & update monthly report
• Manage the refund suspense relating to stamping and top up
• Lead and oversee the Replacement of Policies (ROP) and Replacement of Certificates (ROC) function, ensuring compliance with regulatory, industry, and internal governance requirements, including BNM, LIAM, and MTA guidelines.
• Manage product exemption and detection rules, commission restriction assessments, waiver appeals, KRI reporting, management reporting, and the periodic review of SOPs, benchmarks, and governance frameworks to ensure effective operational controls and regulatory compliance.
• Ensure proper and timely resolution of pending, aged, and exceptional cases.
• Review, validate, and approve transactions, worksheets, and servicing requests within delegated authority limits, including reinstatement cases where applicable.
• Ensure transactions are processed accurately and within established service standards, operational procedures, regulatory requirements, and AML/CFT guidelines.
• Attend to escalated enquiries, appeals, complaints, and exceptional cases from customers, intermediaries, branches, call centres, and internal stakeholders.
• Monitor and ensure timely resolution of outstanding cases, exceptions, and operational issues.
• Perform quality assurance reviews and sampling checks to ensure operational accuracy, compliance, and adherence to service standards
• Monitor and manage operational errors, identify root causes, and implement corrective and preventive actions.
• Manage refund suspense accounts and related exception items.
• Prepare, analyze, and present management information, statistical reports, and operational performance updates to support business decisions.
• Identify opportunities for process optimization and drive continuous improvement initiatives to enhance operational effectiveness.
• Participate in system enhancements, User Acceptance Testing (UAT), digitalization, automation, and business transformation projects.
• Collaborate with cross-functional stakeholders including Distribution, Operations, IT, Finance, Compliance, Legal, and Risk Management to support operational and business objectives.
• Review, update, and maintain Standard Operating Procedures (SOPs), Work Instructions (WIs), and servicing guidelines.
• Provide coaching, guidance, and technical support to team members to ensure consistent service delivery and capability development.
• Undertake any other responsibilities and projects assigned by Management from time to time.

Job description

Summary :

Responsible for overseeing daily operational tasks to ensure timely processing of Policy Changes & Conservation related transactions within established benchmarks/deadlines for Life and Family Takaful. Supports business process analysis, process improvement, quality assurance, testing, and assists with additional duties assigned by supervisors to meet operational or other needs.

Responsible for overseeing daily operational tasks to ensure timely processing of Policy Changes & Conservation related transactions within established benchmarks/deadlines for Life and Family Takaful. Supports business process analysis, process improvement, quality assurance, testing, and assists with additional duties assigned by supervisors to meet operational or other needs.

Key Tasks :

• Supervise and coordinate the day-to-day processing of policy servicing requests, ensuring compliance with internal procedures, service standards, regulatory requirements, and turnaround times.


• Oversee the accurate processing of:


• Financial & Non-Financial Changes


• Nomination/Hibah/Wasi


• Assignment/Release Assignment


• Single Top-Up


• Switching or Transfer of Units


• Extended Term Insurance & Reduced Paid Up


• Change of Servicing Agent


• Issuance of reprint contract


• Due Diligence Checking


• Quality assurance sampling checking & update monthly report


• Manage the refund suspense relating to stamping and top up


• Lead and oversee the Replacement of Policies (ROP) and Replacement of Certificates (ROC) function, ensuring compliance with regulatory, industry, and internal governance requirements, including BNM, LIAM, and MTA guidelines.


• Manage product exemption and detection rules, commission restriction assessments, waiver appeals, KRI reporting, management reporting, and the periodic review of SOPs, benchmarks, and governance frameworks to ensure effective operational controls and regulatory compliance.


• Ensure proper and timely resolution of pending, aged, and exceptional cases.


• Review, validate, and approve transactions, worksheets, and servicing requests within delegated authority limits, including reinstatement cases where applicable.


• Ensure transactions are processed accurately and within established service standards, operational procedures, regulatory requirements, and AML/CFT guidelines.


• Attend to escalated enquiries, appeals, complaints, and exceptional cases from customers, intermediaries, branches, call centres, and internal stakeholders.


• Monitor and ensure timely resolution of outstanding cases, exceptions, and operational issues.


• Perform quality assurance reviews and sampling checks to ensure operational accuracy, compliance, and adherence to service standards


• Monitor and manage operational errors, identify root causes, and implement corrective and preventive actions.


• Manage refund suspense accounts and related exception items.


• Prepare, analyze, and present management information, statistical reports, and operational performance updates to support business decisions.


• Identify opportunities for process optimization and drive continuous improvement initiatives to enhance operational effectiveness.


• Participate in system enhancements, User Acceptance Testing (UAT), digitalization, automation, and business transformation projects.


• Collaborate with cross-functional stakeholders including Distribution, Operations, IT, Finance, Compliance, Legal, and Risk Management to support operational and business objectives.


• Review, update, and maintain Standard Operating Procedures (SOPs), Work Instructions (WIs), and servicing guidelines.


• Provide coaching, guidance, and technical support to team members to ensure consistent service delivery and capability development.


• Undertake any other responsibilities and projects assigned by Management from time to time.