Deputy Manager - Market Conduct and Customer Obsession

Market Conduct manager

Role Objective:

To ensure high levels of customer retention and satisfaction by managing policy persistency, overseeing freelook cancellations, and addressing misselling grievances in alignment with regulatory and organizational standards.

Key Responsibilities:

1. Persistency Management

• Monitor and improve persistency ratios across all channels (Agency, Bancassurance, Direct, etc.).
• Analyze lapse trends and develop targeted interventions to improve renewal rates.
• Collaborate with sales and operations teams to drive persistency-focused campaigns.
• Track advisor and branch-level performance and provide feedback for improvement.

2. Freelook Cancellation Oversight

• Monitor freelook cancellation volumes and reasons across channels.
• Identify patterns indicating potential misselling or customer dissatisfaction.
• Work with product and sales teams to address root causes and reduce freelook rates.
• Ensure timely processing of freelook requests in compliance with IRDAI guidelines.

3. Misselling Grievance Management

• Investigate and resolve customer complaints related to misselling.
• Liaise with internal stakeholders (Sales, Legal, Compliance) to assess and close cases.
• Maintain detailed documentation and audit trails for all grievance cases.
• Ensure regulatory reporting and adherence to IRDAI grievance redressal norms.

4. Customer Communication & Education

• Design and implement customer education initiatives to reduce grievances.
• Develop content for renewal reminders, policy benefits, and complaint resolution.
• Support proactive outreach to customers at risk of lapsing or cancelling policies.

5. Reporting & Analytics

• Prepare dashboards and MIS reports for senior management and regulators.
• Track KPIs such as persistency ratios, freelook rates, grievance resolution TATs.
• Use analytics to identify high-risk segments and recommend corrective actions.

Key Performance Indicators (KPIs):

• Persistency improvement across key milestones (13th, 25th, 37th, 49th month).
• Reduction in freelook cancellations and misselling complaints.
• Grievance resolution turnaround time (TAT) and customer satisfaction scores.
• Compliance with regulatory norms and internal audit standards.

Qualifications & Experience:

• Graduate/Postgraduate in Business, Finance, Insurance, or related field.
• 5-10 years of experience in insurance operations, customer service, or compliance.
• Strong understanding of IRDAI regulations and grievance redressal mechanisms.
• Excellent communication, analytical, and stakeholder management skills.