Senior Life Servicing Officer

Job Purpose

The job holder will be responsible for administration of group life, credit life business and Life retail businesses.

Key Responsibilities

• Reconcile member details with existing data whenever there are changes to scheme membership e.g. changes in salary, addition or exit of scheme members.
• Ensure that primary reconciliations of payments, payables and receivables between the client and related parties with respect to premium, commissions and administration fees is done.
• Ensure that for the primary reconciliation above, there is a formal sign off from the client and related parties.
• Prepare costing schedules for new entrants/exits/new declarations/ refunds, raise the respective debit/credit and communicate to the underwriting and finance teams as per set SLAs.
• Prompt processing of medical requisition forms for members above the free cover limit.
• Support retention of business by adhering to the set SLAs and TATs.
• Promote relationship management with the clients.
• Ensure accuracy in costings and debit/credit notes.
• Follow up on timely premium payment from the clients.
• Follow up on timely Administration Fee payment by the related parties.
• Prompt handling of queries from the client and related parties.
• Prompt processing of supplementary costings.
• Prompt communication of costings (i.e. new entrants, revised salaries & exits).
• Other duties as may be assigned from time to time.

Knowledge, experience and qualifications required and Essential Competencies – External

Knowledge, Experience And Qualifications Required

• Bachelor’s Degree in a business-related field.
• Proficiency in Microsoft Office tools
• 3 years working experience in an insurance Company

Technical/ Functional Competencies

• Knowledge of insurance industry and concepts
• Knowledge of insurance regulatory requirements
• Knowledge of group life service operations

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