Tata AIG - Product Manager - Rural & Micro Insurance

Regulatory & RI Reporting - Preparation and submission of business reports for the vertical including regulatory reporting of quarterly business updates for underwritten crop insurance program, submission of monthly/quarterly risk reports to RI partners adhering to system booking and operations with F&A and actuarial statements along with other reporting requirements.

PRINCIPAL ACCOUNTABILITIES :

- Claim Estimation & Settlement; Portfolio monitoring - Estimation and timely settlement of claims for parametric weather insurance covers, reporting of portfolio health by tracking business updates for all product offerings.

- Tracking of losses for all product lines and business proposals to update and review portfolio health and target achievement.

- Regulatory & RI Reporting - Preparation and submission of business reports for the vertical including regulatory reporting of quarterly business updates for underwritten crop insurance program, submission of monthly/quarterly risk reports to RI partners adhering to system booking and operations with F&A and actuarial statements along with other reporting requirements.

- P&L tracking - Preparation and ownership of P&L statements by monitoring loss ratios, constitution of expense ratios, Earnings, COR metrics, for current and previous seasons business programs.

- Timely review of P&L and closure of issues in adherence with cross functional teams to optimize resources and fast track strategy execution.

- Setting up Systems and Processes - Setting up system requirements, processes for UW, claims, business etc as per the product proposition, walk through of the Product & Strategy, PEG and IT/ development teams for BRD development, system development for successful UAT and production launch.

- Review existing, products, Systems and processes - Review existing products, systems, enhancements requirement, product revision requirement as per the current and futuristic market/business requirements.

Functional Skills:

1. Collaborative with internal and cross functional teams to identify gaps and resolution of problem statements pertaining to business sourcing and booking, client servicing, MIS reporting and others.

2. Proven experience in data analytics (SQL, R, Python) and visualization tools (Power BI, Tableau) roles to digitize reporting framework and automate portfolio health updates.

3. Sound quantitative and statistical aptitude to finalize and present numerical data reports, periodically loss estimation and timely settlement of claims for clients/ partners/ customers.

4. Document and file the reports with the regulator through compliance, RI partners, Govt. of India and others.

5. Automating the process of settling insurance claim, suggest key areas of revision in insurance products, insurance underwriting and claim settlement and technology.

6. Review the process of underwriting insurance products.