Core Responsibilities
End-to-End Value Stream Mapping: Analyze the lifecycle of life insurance products from New Business/Underwriting to Policy Servicing and Death Claims.
Underwriting Efficiency: Optimize medical and non-medical underwriting workflows to reduce "Time-to-Issue" and improve "Placement Ratios."
Annuity Payout Optimization: Streamline periodic payment setups and mortality tracking processes to ensure accuracy and prevent overpayments.
Digital Transformation: Identify opportunities for STP (Straight-Through Processing) in policy applications and self-service portals for policyholders.
Compliance & Risk: Ensure all process improvements adhere to state-specific non-forfeiture laws and tax reporting requirements (e.g., 1099-R).
Domain-Specific Requirements
Knowledge: Deep understanding of Term Life, Whole Life, Universal Life, and Fixed/Variable Annuities.
Experience: Familiarity with L&A platforms (e.g., ALIP, CyberLife, OIPA).
Metrics: Focus on Policy Persistency, Surrender Rates, and Underwriting Cycle Time.
Focus: High-volume transaction processing, rapid claims response, and catastrophe management.
Core Responsibilities
Claims Transformation: Optimize the FNOL (First Notice of Loss) process to improve cycle times and reduce "Adjustment Expenses."
Leakage Control: Implement Lean controls to identify and minimize "Claims Leakage" (unnecessary payments) through better subrogation and salvage processes.
Agency/Broker Workflow: Streamline the submission-to-quote process to improve "Hit Ratios" for agents and brokers.
AI & Automation: Integrate AI for Auto-Adjudication of simple claims (e.g., glass, minor auto) and utilize telematics data for process insights.
Vendor Management: Improve processes for third-party service providers like repair shops, independent adjusters, and legal counsel.
Domain-Specific Requirements
Knowledge: Proficiency in Personal Lines (Auto, Home) and/or Commercial Lines (Workers’ Comp, General Liability).
Experience: Hands-on experience with P&C core systems like Guidewire or Duck Creek.
