Group Life and Retail Life Administrator
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
- 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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