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Company Information

Finhaat – a unique financial services distribution platform catering to the distinctive needs of financially underserved population – the Emerging Indians. Our journey started with the belief that all individuals should be equipped to manage their financial health with ease and confidence. This will be possible only when they have an easy access to solutions that are in line with their financial goals.

Suraksha – Protection from Financial Shocks

Suvidha – Easy access to curated financial services

Samriddhi – Trusted Partner for overall financial prosperity

Finhaat has been created as a marketplace for financial services distribution that seeks to connect the customer to the solution provider through an innovative financial service distribution model.

Finhaat gives the right individual with an environment of immense growth depending on its capability and performance.

Job Description

• Job Title: Manager - Institutional Operations
• Qualification: Bachelor's/Master’s degree
• Location: Mumbai
• Experience: 4-8 Years
  
  • Experience in an insurance broking firm is highly preferred.
  • Strong understanding of affinity insurance products.

Job Summary:

The Assistant Manager – Operations (Institutional Insurance) is responsible for supporting the day-to-day operations of the Institutional Insurance business by ensuring seamless policy administration, timely client servicing, coordination with insurers, and compliance with regulatory and internal operational standards. The role works closely with Relationship Managers, insurers, and internal teams to deliver efficient service to corporate and institutional clients while contributing to process improvements and operational excellence.

Key Responsibilities:

Policy Administration

• Manage the end-to-end policy lifecycle, including quotations, policy issuance, endorsements, renewals, cancellations, and documentation.
• Review policy schedules and ensure accuracy before dispatch to clients.
• Maintain policy records and ensure timely updates in the broking system.
• Monitor renewal pipelines and coordinate timely renewals.

Client Servicing

• Provide operational support to Relationship Managers and
• Business Development teams.
• Respond promptly to client requests related to policy servicing, documentation, and endorsements.
• Coordinate with insurers to obtain quotations, policy copies, certificates, and clarifications.
• Ensure adherence to agreed service turnaround times (TATs).

Insurer Coordination

• Liaise with insurance companies for policy issuance, endorsements, renewals, premium confirmations, and documentation.
• Resolve operational issues with insurers and ensure timely closure. • Track pending requests and follow up for completion.

Claims Support

• Coordinate with clients, insurers, TPAs, and surveyors for claim registration and documentation.
• Monitor claim progress and provide regular status updates to stakeholders.
• Escalate delays or complex issues to the Operations Manager where necessary.

Operational Excellence

• Ensure compliance with Standard Operating Procedures (SOPs).
• Identify process gaps and recommend improvements to enhance efficiency.
• Support automation and digitization initiatives within the operations function.
• Maintain accurate operational documentation and records.

Compliance & Governance

• Ensure compliance with IRDAI regulations, company policies, and internal controls.
• Support internal and external audits by maintaining complete and accurate documentation.
• Ensure data confidentiality and operational risk controls.

MIS & Reporting

• Prepare daily, weekly, and monthly operational reports.
• Track key operational metrics, including:
  
  • Policy issuance TAT
  • Renewal status
  • Endorsement turnaround
  • Claims status
  • Pending insurer actions
• Maintain dashboards for operational performance.

Team Coordination

• • Guide and support Operations Executives in day-to-day activities.
• Assist in training new team members on operational processes and systems.
• Coordinate with cross-functional teams to ensure seamless service delivery.

Key Performance Indicators (KPIs)

• Policy issuance within defined TAT
• Endorsement processing timelines
• Renewal completion rate
• Accuracy of policy documentation
• Client service SLA adherence
• Claims coordination efficiency
• Compliance with operational processes
• Quality and timeliness of MIS reports
• Reduction in operational errors
• Stakeholder satisfaction

Success Profile

The ideal candidate is a proactive operations leader with deep expertise in institutional insurance and broking operations, capable of managing large portfolios, improving operational efficiency, ensuring regulatory compliance, and delivering exceptional service to institutional clients while leading high-performing teams.