SRIRAM RAMANUJAM
CHENNAI
Summary
With nearly two decades of experience in the insurance sector, I have a proven track record of building and leading successful teams. Throughout my career, I have played a pivotal role in establishing and developing two organizations from their inception. While specializing in motor claims, I have expanded my expertise to encompass various verticals within the insurance industry, including property and casualty, health, commercial lines, life insurance, and more. Additionally, I have gained valuable experience in project management, digital transformation, product development, compliance, regulatory reporting, and audits. My ability to adapt to new areas of the industry has been crucial in contributing effectively to the growth and success of these organizations.
Overview
20
20
years of professional experience
Work History
Vice-President - Bancassurance CFD
IndusInd Bank
Chennai, India
03.2019 - Current
- Led team at IndusInd Bank, CFD corporate office to handle Personal and Commercial insurance products including Motor, Health, Property, Fire and Burglary.
- Currently coordinating insurance accounts across diverse sectors.
- Designed bespoke insurance offerings through partner coordination, addressing customer needs and safeguarding banks against developing risks.
- Protected assets through comprehensive insurance plan review and implementation.
- Conceptualized digital insurance products for bank loan customers with high process automation.
- Lead national team efforts assisting branches and regions in meeting claims servicing requirements established by our insurance partners.
- Led API integrations across platforms including BANCS, Salesforce, and Gencon for real-time insurance policy issuance.
- Implemented digital workflows in funding and policy servicing processes adhering to RBI compliance parameters.
- Successfully managed regulatory audit for fiscal year 2022-2023 as an essential audit team member.
- Established SP/POSP networks at various branches for improved dissemination of insurance information and training.
- Oversaw insurance operations including policy servicing, issuance, endorsements/cancellations, and refund processes.
- Handled legal and regulatory complaints within consumer finance division
Senior Project Manager - Claims
Acko General Insurance
Bangalore, India
01.2018 - 03.2019
- Oversaw claims projects, transforming business requirements into detailed technical documentation for successful delivery.
- Oversaw claims reporting and analysis, ensuring adherence to statutory and compliance requirements.
- Implemented high degree of automation utilizing AI and ML algorithms, collaborating with the technology team.
- Oversaw regulatory reporting tasks while addressing technical concerns to achieve timely outcomes.
- Managed the execution of diverse digital programs focused on enhancing customer journeys, optimizing pricing strategies and improving product and support operations.
- Utilized trackers and participated in SCRUM meetings to manage and prioritize projects alongside top-tier consultancies like BCG, E&Y, KPMG
- Played a key role in conceptualizing and delivering the OLA trip insurance program, Amazon mobile insurance plan, and Motor Package policies.
- Implemented automation to achieve 90% efficiency in micro claims workflows, cutting settlement time from 48 hours to under 60 minutes.
- Integrated claims workflow with Audatex, utilizing AI modeling for automated damage estimations.
- Enhanced efficiency in motor claim settlements through successful payment technology integration.
- Rolled out streamlined workflow automation for mobile insurance claims on Amazon.
- Designed interactive dashboards to optimize fleet management processes and boost customer
National Manager - Claims IT BI & Governance
SBI General Insurance
Mumbai, India
05.2010 - 12.2017
- Led the team to devise a claims technology roadmap.
- Conducted thorough testing to deliver error-free claims applications in production conditions.
- Supervised several projects focusing on change management in claims processing, partnering with worldwide firms such as KPMG & E&Y.
- Generated intelligence reports from claims database to support pricing models and business strategies.
- Oversaw complete lifecycle of claim reporting to meet regulatory obligations.
- Administered claims for SBIG's OEM relations including Toyota, Maruti, Hyundai & Eicher and handled 72k claims each year.
- Managed productivity of claims servicing team, focusing on service parameters and KPIs.
- Enhanced business relationships with OEM partners via consistent meetings, reviews, and strategic planning.
- Coordinated the identification, enrollment, and management of over 2500 vendors supplying a range of claims services nationwide.
- Contributed to defining and implementing foundational processes as a startup member.
- Enhanced understanding of overseas claims practices by working with JV partner IAG across the Asia Pacific.
- Spearheaded centralization effort for national OEM claims processing.
- Optimized claims handling via seamless, real-time system integration with OEM APIs.
- Supported development of Supply Chain Management system to streamline vendor onboarding.
- Integrated NPS into claims workflow, enabling real-time feedback sharing and resolution.
Area Manager
ICICI Lombard General Insurance
Chennai, India
06.2006 - 05.2010
- Directed regional operations handling extensive motor claim activities.
- Monitored and ensured compliance with established service benchmarks like TAT, claim cost, and loss ratio within the region.
- Managed the team responsible for ensuring accuracy in processed claim file audits.
- Implemented cost-saving strategies through negotiation with automobile repair shops.
- Completed thorough in-house loss assessments related to motor claims.
- Guided incoming loss adjusters to accurately assess damaged vehicles.
- Maintained exceptional turnaround time (TAT) and parts-to-labor ratio, earning national recognition.
- Upheld superior regional standards by minimizing errors in claims.
Deputy Technical Officer
TVS Sundaram Honda
Chennai, India
08.2004 - 05.2006
- Diagnosed vehicle issues and conducted detailed investigations using advanced diagnostic tools.
- Generated HTRs to highlight production problems.
- Ensured effective operation of dealer management system for estimation and repair scheduling.
- Performed road tests on vehicles to diagnose issues for resolution.
- Conducted customer consultations to determine project scope and delivery expectations.l
- Achieved completion of three levels of service advisor training at Honda Siel Cars India Ltd.
- Completed extensive training sessions by Honda on new technologies.
Education
B.E - Mechanical Engg
Sathyabama Engineering College
Chennai01.2004
Higher Secondary -
New Prince Matriculation Higher Secondary School
Chennai01.2000
Secondary -
New Prince Matriculation Higher Secondary School
Chennai01.1998
Skills
- Team leadership
- Relationship building
- Decision-making
- Critical thinking
- Complex Problem-solving
- Strategic planning
- Client relationship building
- Risk management
- Business development
- Performance metrics analysis
- Partnerships and affiliations
- Cross-functional team leadership
- Project management
- OEM Claims management expertise
- Bancassurance
- Vendor Management
- Regulatory Compliance
- Product Development & Management
- Asset protection
- Credit linked product expert
Accomplishments
M
Leadership Experience
- Lead small to large teams of 300 + in various roles
- Startup member in two organizations.
- Experience working in highly collaborative environments along with top management in various change management projects across organisation
- Led multiple teams and worked with global consultants in developing cutting edge claim systems and processes
- Developed and presented claims strategies for various investor meets and funding processes
- Experience in handling a team to manage regulatory audits
Languages
English
Tamil
Hindi
Mentorship
Provided training and mentorship program to new joiners.
Personal Information
- Age: 41
- Gender: Male
Affiliations
Licenciate from Insurance Institute of India
Timeline
Vice-President - Bancassurance CFD
IndusInd Bank
03.2019 - Current
Senior Project Manager - Claims
Acko General Insurance
01.2018 - 03.2019
National Manager - Claims IT BI & Governance
SBI General Insurance
05.2010 - 12.2017
Area Manager
ICICI Lombard General Insurance
06.2006 - 05.2010
Deputy Technical Officer
TVS Sundaram Honda
08.2004 - 05.2006
B.E - Mechanical Engg
Sathyabama Engineering College
Higher Secondary -
New Prince Matriculation Higher Secondary School
Secondary -
New Prince Matriculation Higher Secondary School