Senior Executive, New Business Operations

Singlife Group; Singapore; On-site; SGD 40,000 - 60,000; Full time

Job summary

Singlife is a leading homegrown financial services company in Singapore. The Senior Executive, New Business Operations will assist in processing new business applications and ensure smooth end-to-end transaction handling across life and health insurance services.

The role focuses on delivering accurate processing, compliance with regulatory requirements (MAS, LIA, CPF Board, MOH, MOM), and supporting channel partners to achieve service excellence and strong Net Promoter Score.

Qualifications

• Good customer service and complaint handling skills.
• Good understanding of the principles for Life and Health products.
• Good understanding of the regulatory aspects of Life and Health insurance industry (MAS, LIA, CPF Board, MOH, MOM)
• Good verbal and written communication and interpersonal skills.
• Good problem solving and decision-making skills.

Responsibilities

• Assist the Manager in the Individual Life and Health Insurance Service operations on all transactional processing functions and process/workflow review.
• Deliver one-stop consistent and delightful customer experiences across all operation enquiries and transactions.
• Ensure regulatory compliance and certification of all staff and obtain the Delegation of Authority as needed.
• Ensure correspondences provided to policyholders and advisers are accurate, fast and complete.
• Design and conduct training programs for new and existing staff in the operation team.

Skills

Customer service

Complaint handling

Life & Health insurance knowledge

Verbal & written communication

Regulatory awareness

Education

Degree preferably in Insurance, Business Administration or Process Engineering

Job description

Senior Executive, New Business Operations Singapore, Singapore, Singapore 0 - 3 Years Permanent - Full Time

Job Description

Singlife is a leading homegrown financial services company,offering consumers a better way to financial freedom. Through innovative,technology-enabled solutions and a wide range of products and services,Singlife provides consumers control over their financial wellbeing at everystage of their lives.

In addition to a comprehensive suite of insurance plans,employee benefits, partnerships with financial adviser channels andbancassurance, Singlife offers investment and advisory solutions through itsGROW with Singlife platform. It also offers the Singlife Account, amobile-first insurance savings plan.

Singlife is the exclusive insurance provider for theMinistry of Defence, Ministry of Home Affairs and Public Officers GroupInsurance Scheme. Singlife is also an official signatory of the United NationsPrinciples for Sustainable Insurance and the United Nations-supportedPrinciples for Responsible Investment, affirming its commitment to finding abetter way to sustainability.

The merger of Aviva Singapore and Singlife was announced inSeptember 2020 and created one of the largest homegrown financial servicescompanies in Singapore in a deal valued at S$3.2 billion. It was the largestinsurance deal in Singapore at the time. Singlife was subsequently acquired bySumitomo Life in March 2024, one of Japan’s leading life insurers, which valuedSinglife at S$4.6 billion, making the transaction one of the largest insurancedeals in Southeast Asia.

KeyAppointments

• Managedaily operations for Individual Life and Health Insurance Services


• Handle complaintspertaining to transactions for Individual Life and Health Insurance Services


• Responsible for compliancewith applicable laws, regulations and notices (including personal regulatoryaccountabilities in relation to fitness and propriety), and relevant Singlife’sBusiness Standards.


• Ensure fullunderstanding of Fair Dealing Outcomes and one’s own accountability indelivering these outcomes as applicable to the role.

KeyResponsibilities

• Therole assists the Manager in the Individual Life and Health Insurance Serviceoperations on all transactional processing functions and process/workflowreview and managing the people, process & systems to achieve operationalefficiencies and service excellence. Continually improve efficiency andeffectiveness of people, process and systems through System Thinking andService Design Thinking to achieve desired Net Promoter Score.


• Deliverone-stop consistent and delightful customer experiences across all operationenquiries and transactions in accordance with the company’s service standardsand quality objective.


• Ensureregulatory compliance and certification of all staff. Identify and obtain theDelegation of Authority for staff that’s needed to provide single-touch inIndividual Life and Health Insurance Services operation handling.


• Responsible for ensuring that all correspondencesprovided to policyholders and advisers regarding their applications, areaccurate, fast and with complete information.


• Design,coordinate and conduct relevant training programs for new and existing staff inthe operation team – enquiries, processing, complaints investigation andresolution, business rules and processes, regulations, corporate governance andguidelines.


• Responsiblefor internal controls for financial and business protection pertaining toIndividual Life and Health Insurance Services operations particularly inprevention and detection of AML cases as well as unauthorised sales.


• Activelysupport Client Management, Service Relations and all Distribution Channels forall products to address all enquiries and complaints resolution pertaining toIndividual Life and Health Insurance Services operation.


• The team is a highly mission criticalfunction for the processing and issuance of all new applications from multipleDistribution Channels for all currently selling individual Life and Healthpolicies. The work done directly determines the company’s achievement of Valueof New Business (VNB) and Net Promoter Score (NPS).


• Ensure compliance with allapplicable laws and regulations relating to the above functionalactivities.

Requirements

Experience

• Good customer service and complaint handlingskills.


• Good understanding of the principles for Lifeand Health products.


• Good understanding of the regulatory aspectsof Life and Health insurance industry (MAS, LIA, CPF Board, MOH, MOM)


• Good verbal and written communication andinterpersonal skills.


• Good problem solving and decision-makingskills

Education

• Degreepreferably in Insurance, Business Administration or Process Engineering

KeyStakeholders

• Business, Underwriting, Claims and SystemSupport units to ensure appropriate transactional handling


• Clients, intermediaries, Third PartyAdministrators, Vendors, Official Assignee, LIA, CPF Board and MOH