Renewal Executive

Job Posting: Renewal Executive

The company GISA Pvt Ltd, based in Bhilai is established in 2010. We bring together professional culture & decades of corporate experiences. At GISA, we stand out as your trusted partners in the world of insurance.

• Comprehensive Coverage
• Tailored Solutions
• Expert Guidance
• Swift Claims Processing
• Customer-Centric Approach
• Risk Mitigation

Your Future Tasks:

A Renewal Executive is responsible for managing and driving the renewal process for existing customers in insurance sector. Their role focuses on ensuring customer retention, contract renewals, and maintaining long-term business relationships. Here are the key responsibilities for a Renewal Executive:

1. Managing Customer Renewals:

· Handle and manage the renewal process for existing clients or accounts.

· Proactively reach out to customers before their contracts or subscriptions expire to initiate the renewal process.

· Ensure that renewals are completed in a timely manner to prevent any disruptions in service.

2. Customer Relationship Management:

· Build and maintain strong, long-term relationships with customers.

· Understand customer needs and ensure they are satisfied with the product or service.

· Act as a point of contact for any issues related to renewals and help resolve concerns promptly.

3. Contract Review and Negotiation:

· Review customer contracts to ensure renewal terms and conditions align with business objectives.

· Negotiate renewal terms, pricing, and other contractual aspects in collaboration with legal teams.

· Identify upselling or cross-selling opportunities during renewal discussions.

4. Cross-Functional Collaboration:

· Work closely with the sales, customer support, finance, and legal teams to ensure a smooth renewal process.

· Collaborate with the account management team to ensure that customers are engaged, and their needs are met.

5. Data Management and Reporting:

· Track and maintain accurate records of all renewal activities, including customer status, contract terms, and pricing.

· Use CRM tools to document and monitor renewal progress and customer interactions.

· Provide regular reports on renewal rates, customer retention, and potential churn.

6. Customer Retention and Churn Management:

· Identify at-risk customers and proactively engage with them to prevent churn.

· Suggest product enhancements or new features that could add value to the customer’s experience and increase the likelihood of renewal.

· Work on strategies to improve overall customer satisfaction and retention rates.

7. Post-Renewal Support:

· Ensure the customer is onboarded to any new services or features after renewal.

· Provide ongoing support to help customers get the most value from the service.

8. Handling Escalations:

· Manage any issues or disputes that arise during the renewal process, ensuring timely resolutions.

· Act as an escalation point for customers with concerns or complex renewal requirements.

9. Continuous Improvement:

· Provide feedback on the renewal process and suggest improvements based on customer feedback.

· Stay updated on product/service changes to better communicate with customers during renewal discussions.

Education Qualifications required:

· Bachelor’s Degree

· Experience in Insurance (Optional)

· Postgraduate Qualifications (Optional)

Skills & Competencies required:

· Communication Skills: Strong verbal and written communication skills are essential, as you’ll be interacting with clients to renew policies and explain products.

· Attention to Detail: Insurance renewal requires careful attention to policy details, terms, and conditions.

· Grievance Handling Skills: While the focus is on renewals, we need to handle any problems faced by insurance company or customers.

· Negotiation Skills: You may need to negotiate terms with clients to ensure continued coverage at favorable rates for both parties.

· Technical Knowledge: Familiarity with insurance management software and tools can be beneficial.

Job Types: Full-time, Permanent

Pay: ₹144,000.00 - ₹240,000.00 per year

Benefits:

• Paid time off

Work Location: In person