Rajiv Bagaria

Experience

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  ICICI Prudential Life Insurance Company Limited

  Aug 2004 - Jan 2008

  Customer Service Manager

   Customer Service Delivery and exceeding customer expectation to create Customer Delight. Creating “moments of truth” at all interfacing points. Mystery shopping to capture customer feedback. FACT – Fast, Accurate, Consistent & Transparent servicing thereby avoiding Repeats. SPOC for all escalations on New Business Processing & Agency Servicing Training the Team on required skills and processes to help them deliver their routine deliverables Managing sales relationship in terms of business volumes processing, MIS reporting to Sales on Business parameters to facilitate decision making Show less

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  Kotak Life Insurance

  Jan 2008 - Apr 2013

  Regional Operations Controller

   Heading Operations and Customer Service for East and North East region. Providing operations support across all business verticals – TIED, Alternate (Corporate Agents, Brokers, Bancassurance), Agency Partner, Group Insurance (EEG and FIG) & Telesales. Capability Planning and Creation, Organizing People and Partners with right skills, attitude and high standard of delivery - Design Organizational structure for the region, recruiting the right kind of people and their induction  Team Training Requirements - Functional Training on new processes and guidelines and Behavioral Training. Team motivation & engagement. Identifying Employee Key Responsibility Areas and Employee evaluation Compliance Management - Complying with Regulations, Laws, Internal policies / processes & accepted best practices. Compliance Orientation of Team. Identify compliance issues & devise processes to reduce/control compliance risks with built-in escalations Ensure periodic audits and response to audit. Visiting all branches as per branch classification and submission of Branch Inspection Reports Conducting Branch Meetings & Cross Functional Meetings (Regional Forum) identifying clear actionable with fixed timelines and escalation of open issues / actionable to higher forums Handling Ombudsman & Legal Cases Persistency – meeting branch wise targets on Renewal Collection across business verticals Customer Service – Seibel Implementation for Client Servicing, Promoting ECS, Online Policy Manager, Go Green, Direct Credit – reducing servicing cost, Customer Retention – Surrender Retention, Revival of Policies New Business Processing – Login to Conversion. Reducing Company Rework to improve End to End TAT. Agent Licensing and Servicing. Empanelment & servicing of Medical Centers. Cashiering & Banking activities and reconciliation.  Coordination between Central Processing Center & Branch for smooth Business Operations & Customer Service in the assigned region Show less

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  Western Union Services India Private Limited

  Apr 2013 - Jul 2014

  Regional Operations Specialist

   Ensuring availability of Money Transfer services and new products with Network agents in assigned region Ensuring agent’s readiness in legal, operational and technical aspects Ongoing training of the agent’s staff (CSC, back office, POS as well as “Train the trainer”) Key contact between WU departments and Agents on all matters related to operations/ service Ensuring Network agents are in full compliance with worldwide operating policies and service standards Manage and implement quality assurance programs and POS Audits Show less

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  Kotak Life

  Aug 2014 - now

   Heading Internal Audit, Operational Risk and Process Assurance for the Company Managing the risk based audit plan for the company based on materiality and risk assessment thus providing assurance to the management on internal controls, systems and processes Directing and overseeing audit activities with co-sourced internal auditors to ensure proper audit coverage To identify, measure, monitor, control and report operational risks for the company by conducting Operational Risk reviews, thematic reviews for all business and support functions Custodian/ curator of all business processes, i.e., board approved policies, cross-functional process notes and functional Standard Operating Procedures (SOPs) Convening/ invitee of board constituted statutory committees like Audit Committee, Risk Management Committee, Policy Holders Protection Committee, Compliance Committee, Outsourcing Committee, Information Security Committee and BCP Committee. Show less  Heading Policy Servicing department for individual business comprising of Collection, Payouts, Alteration, Unit Linked, Revival, Suspense & Stale cheque clearance, Unclaimed management, Policy Discontinuance, Escalation Desk, Quality Assurance & Service Communications. Managing a Team size of 60 onroll and 25 support staffs & vendor relations. Driving compliance, cost saving & excellence projects - major ones below:-Unclaimed set up including fund investment, fund dilution and payout-Policy dematerialization with Insurance Repositories (cost savings of 3 CRS.)-Migration of renewal collections from ECS to NACH platform (cost savings of 1 CR)-Go Green to save on Printing & Stationery and Dispatch cost (annual savings of 2 CR)-Discontinuance Revival and payout set up-Service Tax and GST changes-CKYC implementation-FATCA compliance Managing renewal collection portfolio of 3000+ CRS by driving various online payment (card payments, Net Banking, payment gateways, etc.) and offline modes (ECS, Drop Box, etc.). Managing payouts of 1000+ CRS annually viz. surrender, maturity, annuity, discontinuance, foreclosure, free look, stale cheque clearance, excess refund. Outsourcing of policy servicing processing activity (manpower reduction by 40% targeted in FY 18-19), ECS registration & collection, skip tracing for stale cheque clearance, letter printing & dispatch. Vendor management and deriving maximum output by capturing mind share & making them partners in business success. Benchmarking industry standards to achieve best service turnaround time across servicing categories. Drawing functional budget, business continuity plan and critical objectives (SCO) Strategy - Representing the function in statutory forums & various Steering Committees & Project Boards. Teams compliance orientation, training and engagement, performance review and feedback. Formalizing process notes, designing servicing formats & communications and defining process controls. Show less

  • Head - Operational Risk Management (ORM)

    Sept 2022 - now

  • Head - Process Assurance and Risk Management (PARM)

    Sept 2018 - Aug 2022

  • Head - Policy Servicing

    Aug 2014 - Aug 2018