The Relationship Executive serves as a vital link between clients and the Health Business, dedicated to fostering strong relationships by delivering exceptional service and support. This role involves understanding client needs, addressing inquiries, and resolving issues to ensure a seamless experience with policy management. By collaborating with internal teams and engaging with onboarded schemes, the Relationship Executive aims to enhance client satisfaction, drive retention, and contribute to the overall growth of the Business.
Key Responsibilities
Client Relationship Management
- Establish and maintain strong relationships with key accounts, acting as a point of contact to understand their unique needs, anticipate potential challenges, and proactively address them to ensure retention and satisfaction.
Retention Strategy Execution
- Collaborate with cross-functional teams to design and implement strategies specifically aimed at retaining high-value clients and reducing churn within the portfolio.
- Driving policy renewals, supporting organic growth, and assisting the Business Development team in onboarding new clients.
Data-Driven Decision Making
- Conduct regular reviews of client performance data, including claims, usage patterns, and customer feedback, to inform strategic adjustments and identify opportunities for targeted retention initiatives.
Risk Assessment and Mitigation
- Work closely with underwriting to assess the risk profiles of clients, recommend adjustments to premium levels, and adjust coverage based on client history and renewal discussions to ensure the Net Loss Ratio remains within set targets.
Member Education and Client Engagement
- Member Education: Implement educational programs aimed at enhancing members' understanding of their health insurance benefits, claims processes, and wellness initiatives through webinars, newsletters, and guides.
- Health Talks and Workshops: Work in liaison with the Wellness team to offer regular health talks and workshops on preventive care and wellness.
- Scheme Review Meetings: Conduct regular scheme review meetings with clients to discuss policy performance and claims trends.
- Client Engagement Events: Host client engagement events such as business lunches and appreciation dinners to build stronger connections.
- Collaborative CSR Initiatives: Partner with clients on Corporate Social Responsibility (CSR) activities to build goodwill and brand reputation.
- Wellness Camps and Health Screenings: Organize wellness camps, screening sessions, and vaccination drives.
- Cross-Selling and Upselling: Identify opportunities to introduce clients to additional products or services.
- Performance Metrics and Reporting: Track and report on retention-related KPIs and portfolio performance on a quarterly basis.
- Quality Assurance: Regularly review the quality and consistency of client communications and services.
- Policy Renewal Optimization: Implement renewal strategies including early outreach and negotiation of terms.
- Incentive Programs: Implement rewards for long-term clients with loyalty benefits or exclusive services.
Premium Collection and Payment Management
- Member Administration: Ensure accurate and prompt processing of member additions and deletions.
- Financial Documentation: Ensure timely issuance of debit and credit notes in liaison with the Onboarding team.
- Payment Reminders: Implement structured processes for sending regular payment reminders and following up on overdue accounts.
- Demand Notices: Issue demand notices to unresponsive payers to ensure outstanding payments are addressed.
- Finance Collaboration: Work with the finance team to track payment status, reconcile accounts, and address disputes.
- Payment Plans: Negotiate payment plans with clients facing financial difficulties where necessary.
Requirements and Qualifications
- Bachelor’s degree in Business (Insurance option preferred).
- Professional qualification in Insurance (ACII, FLMI, or IIK).
- 6-8 years of experience in Client Retention within the insurance sector.
