Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
ROLE PURPOSE:
To lead a performance team on the assessment of medical and financial risks of applicants for life and health insurance policies to issuance of the policy contracts, within the regulatory framework. Set dept objectives and drive strategic projects relating to new way of working. This role will report to the Head, Operations and work closely with internal and external stakeholders to evaluate the risk of potential clients.
ROLE DUTIES & RESPONSIBILITIES:
- Oversee the New Business dept & trouble shoot on issues relating to new business applications
- Set KPI for the department and perform staff performance evaluation
- Drive new business strategies & initiatives fit for dept sustainability
- Drive a committed & engaging New Business team towards meeting company’s performance targets
- Drive process enhancements to support new ways of working
- Formulate new underwriting guidelines & rules for a customer-centric underwriting process & buying experience
- Review and make decisions, within the given authority, that are consistent with underwriting standards and compatible with market trends
- Engagement with distribution channels on updates, feedbacks and complaints
- Coach to upgrade dept’s technical competencies
- Liaise & collaborate with internal stakeholders/ external stakeholders on regulatory guidelines or industry mandates (e.g. LIA, MOH, reinsurers, legal, compliance, actuaries, distribution)
- Review internal processes, guidelines & practices to ensure they are up to date, relevant & complying with industry regulation and practices
- Provide support and services to Financial Consultants on matters relating to new business applications on areas of underwriting & admin processing
- Set, monitor & manage department budget
- Resource management including recruitment, grooming & retaining talents
KEY PERFORMANCE INDICATORS:
- Achievement of Ops financial and strategic KPIs
- Implementation of new initiatives and services on an ongoing basis to support the new way of working
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.