Skill required:
Group Core Benefits - Group Disability Insurance
Designation:
Insurance Operations Associate
Qualifications:
Any Graduation
Years of Experience:
1 to 3 years
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security.Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services, and Accenture Song— all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.Visit us at www.accenture.com
What would you do?
We help insurers redefine their customer experience while accelerating their innovation agenda to drive sustainable growth by transforming to an intelligent operating model. Intelligent Insurance Operations combines our advisory, technology, and operations expertise, global scale, and robust ecosystem with our insurance transformation capabilities. It is structured to address the scope and complexity of the ever-changing insurance environment and offers a flexible operating model that can meet the unique needs of each market segment.
- 2 years of experience in US Group Insurance domain – Billing (preferred) / similar experience in other insurance domain (acceptable)
- Proficient in Insurance accounting system and check and cash app applications
- Possesses a good ability to understand and analyze information to draw insightful conclusions
- Knowledge of MS Office The benefits of having a strong core include injury prevention, reduction of back pain, improved lifting mechanics, balance, stability, and posture, as well as improved athletic performance. Group disability coverage is tied to employment. If change or loss of job, the coverage is not portable. The cost of group coverage can also change from year to year. It is a sort of insurance that pays out if a policyholder is unable to work and earn an income due to a disability. What are we looking for?
- Adaptable and flexible
- Ability to perform under pressure
- Problem-solving skills
- Ability to work well in a team
- Prioritization of workload
- Ensure that payment received from clients and payments made to clients reconcile with the client ledger
- Manage, research and resolve unallocated cash balances
- Manage receivables to prevent overdue balances
- Prepare, monitor and analyze various business enabling reports like AR Aging, High Dollar Funds in suspense, Write-off etc
- Respond to billing inquiries and requests from internal and external clients on all billing issues
- Collaborate with the clients and onshore team to resolve premium variances
- Prepare cash receipts and payment reports to monitor pending actions
- Application of cash against transactions for which client has paid the funds
- Client money calculation and payment authorization with proper approvals
- Coordinate with internal/external stakeholders for the payment discrepancies and fund request
- Month over month variance analysis for any over/under payment or no payment received and researching the root cause of such anomaly and reaching out to the concerned POC for the payment
- Update and send the funding report with the necessary actions
- Create or update procedure manuals, ensuring that process are documented accurately, and documentation is kept current
- Review the outstanding transactions Roles and Responsibilities:
- In this role you are required to solve routine problems, largely through precedent and referral to general guidelines
- Your expected interactions are within your own team and direct supervisor
- You will be provided detailed to moderate level of instruction on daily work tasks and detailed instruction on new assignments
- The decisions that you make would impact your own work
- You will be an individual contributor as a part of a team, with a predetermined, focused scope of work
- Please note that this role may require you to work in rotational shifts
- Review the outstanding transactions and follow up with the client and track progress
- Research on any queries/ requests sent by the Business Partners/Client Support Teams and replying the same with minimum response time
- Taking active participation in process improvements and automation of projects
- Ensure Quality Control standards that have been set are adhered to.
- Excellent organizational skills with ability to identify and prioritize high value transactions.
- Completing assigned responsibilities and projects within timelines apart from managing daily BAU.
- Graduate in any stream.
- Experience in the US Group Life and Disability domain (Preferred, not mandatory)
- Ability to manage multiple tasks and meet deadlines
- Open to flexible shifts based on business requirements.
- Strong analytical and problem-solving skills
- Good verbal & written communication skills
- Good typing skills and attention to detail.
- Ability to work independently, Any Graduation
