Poonam Vijay Vaje
Mumbai
Summary
Dynamic Insurance Operations Specialist with extensive experience at Marsh McLennan Companies, excelling in KYC compliance and document management. Proven track record in risk assessment and claims processing, enhancing operational efficiency. Adept at client interaction and mentoring, driving team success while ensuring accuracy and quality in all deliverables.
Overview
8
8
years of professional experience
1
1
Certification
Work History
Insurance Operations Specialist
Marsh McLennan Companies
Mumbai
12.2020 - Current
- Checking all KYC documents that are needed in the insurance contract, such as the slip, endorsement, firm order, and evidence for fee and commission transactions.
- Creating client documents and transactions (evidence of cover, cover note, debit/credit notes) from the inception of the policy until expiry.
- Interacting with all UK account handlers for policy contract details and for any queries relating to the given account. Working closely with the underwriters and client to create premium endorsements for bulk declaration accounts and getting the endorsements agreed upon by the insurers through Placing Platform Limited (PPL).
- Consolidating and updating the necessary trackers and circulating MIS to respective stakeholders.
- Closing or submission of the Slip, London Premium Advice Note (LPAN), Endorsement, and all necessary documents to Xchanging (Bureau) in order to meet the Prompt Payments.
- Handling a project called XIS, wherein we ensure the settlement of funds to the underwriters.
- Training and mentoring new joiners, helping them to achieve their accuracy, and providing knowledge capsules.
- RBA Accredited. Self-authorizing risks up to GBP 70,000.
Senior Associate
HDFC Life Insurance Limited
Mumbai
11.2019 - 12.2020
- Worked as a Senior Associate in the Death Claims department.
- Worked on non-early claims (claim intimation received after three years of the risk commencement date (RCD) of the policy).
- Cross-trained in the pre-claims department, where we need to evaluate the suspicious cases.
- Bifurcating the life insurance policy claims into genuine or fraud categories by individual expertise and knowledge.
- Scrutiny of new business policies with individual expertise is necessary to identify the potential fraud hidden in such cases and to prevent the company from being hit by claims. Applying strong analytical and investigative skills to assess high-risk claims.
- Cancellation of fraud category policies and preventing the company from being hit by fraud claims.
Senior Insurance Executive
Capita India Pvt. Ltd
Mumbai
08.2017 - 11.2019
- Dealing with the pension policies of UK policyholders for Phoenix Group Holdings plc.
- Cross coordination among various departments, such as Process Support, Actuaries, etc.
- Providing policy quotations to the policyholder, as well as to the IFA (Receiving scheme).
- Involved in helping the UK policyholders with transferring their pension policies to third parties.
- Ensuring all the cases are resolved within TAT, maintaining the desired quality level.
- Maintain quality, accuracy, and turnaround time (TAT) as per the Service Level Agreement (SLA).
- Processing and authorizing the payments.
- Sending correspondence to the clients as needed.
- Quality checking of the cases processed by other team members.
Education
Bachelor of Commerce -
University of Mumbai
01-2014
H.S.C -
Ramanand Arya DAV College
01-2011
S.S.C. -
Guru Nanak English High School
01-2009
Skills
- Policy management
- KYC compliance
- Document management
- Risk assessment
- Claims processing
- Client interaction
Accomplishments
Achievements in Marsh McLennan Companies:
- Star of the month (March 2022)
- People’s Choice Award (April 2023)
- Game Changer (July 2023)
- Star of the Month (October 2023)
- People’s Choice Award (June 2024)
Certification
AML-KYC and Customer Due Diligence from National Institute of Securities Market
Listing on Social Stock Exchange from National Institute of Securities Market
Timeline
Insurance Operations Specialist
Marsh McLennan Companies
12.2020 - Current
Senior Associate
HDFC Life Insurance Limited
11.2019 - 12.2020
Senior Insurance Executive
Capita India Pvt. Ltd
08.2017 - 11.2019
Bachelor of Commerce -
University of Mumbai
H.S.C -
Ramanand Arya DAV College
S.S.C. -
Guru Nanak English High School
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