Team Lead

Job Description: Team Leader Insurance (Policy Servicing & Payout Services)

Job Summary

The Team Leader – Insurance (Policy Servicing & Payout Services) is responsible for managing a team that handles end-to-end policy servicing and payout processes. This role ensures accurate policy updates, timely claim settlements, compliance with regulatory standards, and exceptional customer service. The Team Leader provides guidance, monitors performance, and drives operational excellence in servicing and payout functions.

Key Responsibilities

• Supervise and guide the team in processing policy changes, endorsements, renewals, and cancellations.
• Ensure accurate and timely handling of payout services including claim settlements and maturity benefits.
• Monitor compliance with regulatory requirements and company policies for servicing and payouts.
• Resolve escalated customer issues related to policy servicing and payouts.
• Conduct regular team meetings, coaching sessions, and performance reviews.
• Collaborate with underwriting, claims, and finance teams for smooth operations.
• Implement quality checks to minimize errors and improve turnaround times.
• Prepare and present reports on servicing and payout performance metrics to senior management.

Required Skills & Competencies

• Strong leadership and team management skills.
• In-depth knowledge of policy servicing processes and insurance lifecycle.
• Expertise in payout services including claims and maturity settlements.
• Excellent communication and problem-solving abilities.
• Attention to detail and ability to manage compliance requirements.
• Proficiency in insurance management systems and MS Office tools.

Qualifications

• Bachelor’s degree in Insurance, Business Administration, or related field.
• 3–5 years of experience in insurance operations with focus on policy servicing and payouts.
• At least 2 years in a supervisory or team leader role.
• Knowledge of regulatory compliance and industry standards.

Performance Metrics

• Accuracy and timeliness of policy servicing and payout processing.
• Customer satisfaction and resolution of escalations.
• Compliance with regulatory and company standards.
• Team productivity and engagement levels.