Head of Policy Servicing

Job Description

Title: Head of Policy Servicing

Company Name: Sunflower Life Insurance Company Ltd.

Vacancy: --

Age: At least 30 years

Job Location: Dhaka

Salary: Negotiable

Experience:

• 10 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Masters

• Minimum Bachelor's degree from a recognized university; preferably in Business Administration, Management, Finance, Accounting, Insurance, Economics, Statistics or a related discipline.

• Professional qualification or relevant certification in Insurance, Risk Management, Business Administration or Customer Experience will be an added advantage.

• 10 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Age At least 30 years

• Minimum 10–15 years of relevant experience in the life insurance industry, with substantial experience in Policy Administration / Policy Servicing / Customer Service / Operations.

• Candidates with proven experience in a senior managerial role in a reputed life insurance company will be preferred.

• Strong understanding of the life insurance policy lifecycle and policy administration processes.

• Sound knowledge of policy alterations, endorsements, reinstatement, surrender, nomination, assignment, maturity and other policy servicing activities.

• Strong understanding of regulatory compliance and operational controls applicable to the life insurance sector in Bangladesh.

• Proven leadership capability with strong people-management and team-building skills.

• Excellent analytical, problem-solving and decision-making abilities.

• Strong communication, negotiation and stakeholder-management skills.

• Experience in policy administration software, digital servicing platforms and process automation will be highly valued.

• Strong command of MS Office, particularly Excel, and management reporting tools.

• Customer-centric mindset with a strong commitment to service quality and operational excellence.

We are looking for a highly experienced, customer-focused and dynamic professional to join our organization as Head of Policy Servicing. The incumbent will be responsible for leading the overall policy servicing function, ensuring timely and accurate delivery of policy-related services, strengthening customer experience, improving operational efficiency, and ensuring compliance with applicable laws, regulations and regulatory directives. The successful candidate will provide strategic and operational leadership across policy administration and servicing activities throughout the policy lifecycle.

Job Responsibilities:

• Lead and manage the Policy Servicing Department and ensure efficient, timely and customer-centric service delivery.

• Oversee end-to-end policy servicing activities, including policy alterations, endorsements, nominations, assignments, reinstatements, surrender, maturity-related services, premium-related requests and other policy transactions.

• Ensure accurate and timely processing of policyholder requests in accordance with approved policies, procedures and service standards.

• Develop and implement Service Level Agreements (SLAs), Key Performance Indicators (KPIs) and quality standards for policy servicing operations.

• Monitor policy servicing turnaround time, pending cases, customer complaints and service quality, and take corrective actions where necessary.

• Ensure proper maintenance and updating of policy records and customer information in the policy administration system.

• Coordinate with Underwriting, Claims, Actuarial, Finance & Accounts, IT, Legal, Compliance, Internal Audit, Customer Service and Distribution teams to resolve operational issues.

• Establish effective controls to minimize operational errors, fraudulent activities, financial risks and customer grievances.

• Ensure compliance with applicable insurance laws, regulatory requirements, circulars, guidelines and internal policies.

• Review and improve policy servicing procedures, workflows and documentation to enhance operational efficiency.

• Lead initiatives for digital policy servicing, automation and process transformation.

• Develop management reports and provide regular updates to senior management on policy servicing performance, service quality, operational risks and critical issues.

• Analyze customer feedback and complaints to identify recurring issues and implement sustainable solutions.

• Ensure proper handling of sensitive customer and policy information while maintaining confidentiality and data security.

• Manage, coach and develop the policy servicing team to achieve operational and customer-service objectives.

• Work closely with branches and distribution channels to ensure consistent policy servicing standards across the organization.

• Participate in the development and implementation of customer experience and retention strategies.

• Perform any other responsibilities assigned by the management.

• Attractive salary package (Negotiable based on experience and qualifications)

• Other benefits as per company policy