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VP - Persistency and Renewals

Mumbai Permanent View Job Description
The Head of Renewals is responsible for driving renewal premium collections, improving policy persistency, and ensuring a superior customer experience across the renewal lifecycle. This role leads renewal strategy, operations, and teams to maximize retention and long-term customer value while ensuring regulatory compliance.
  • Opportunity to head the renewal business of a large life insurance player
  • Opportunity to be part of the leadership team

About Our Client

Our client is a leading life insurance company headquartered Munbai

Job Description

Key Responsibilities

Strategy & Leadership

  • Define and execute the company's renewal and persistency strategy across all life insurance products
  • Own renewal targets, persistency ratios, and renewal premium growth
  • Build and lead high-performing renewal, servicing, and retention teams
  • Partner with Sales, Digital, Customer Service, and Actuarial teams to improve renewal outcomes



Renewal Operations

  • Oversee end-to-end renewal processes including notices, follow-ups, collections, and policy continuance
  • Ensure timely and accurate renewal premium collections through all channels (agency, bancassurance, digital, call centers)
  • Drive automation and digitization of renewal workflows to improve efficiency and reduce lapses



Customer Retention & Experience

  • Design customer engagement programs to reduce lapsation and improve loyalty
  • Analyze lapse trends and implement targeted interventions for high-risk segments
  • Ensure consistent, compliant, and customer-friendly renewal communications



Analytics & Performance Management

  • Track and analyze persistency metrics (13M, 25M, 37M, etc.) and renewal KPIs
  • Use data insights to forecast renewals, identify gaps, and drive corrective actions
  • Prepare MIS, dashboards, and presentations for senior management and the board



Compliance & Risk Management

  • Ensure adherence to IRDAI / regulatory guidelines and internal policies
  • Manage audits, grievance redressals, and regulatory reporting related to renewals
  • Minimize operational, reputational, and compliance risks

The Successful Applicant

Key Skills & Competencies

  • Strong understanding of life insurance products and renewal economics
  • Expertise in persistency management and lapse reduction strategies
  • Proven leadership and stakeholder management skills
  • Data-driven mindset with strong analytical and MIS capabilities
  • Customer-centric approach with operational excellence



Qualifications & Experience

  • Graduate / Postgraduate (MBA preferred)
  • 15+ years of experience in Life Insurance operations, renewals, or servicing
  • Prior experience leading large renewal or customer retention teams preferred

What's on Offer

Opportunity to head the renewal business of a large life insurance player

Opportunity to be part of the leadership team

Quote job ref
JN-022026-6944937

Job summary

Function
Consultancy, Strategy & Change
Sub Sector
Consulting
What is your area of specialisation?
Insurance
Location
Mumbai
Job Type
Permanent
Job Reference
JN-022026-6944937

Diversity & Inclusion at Michael Page

We don't just accept difference - we celebrate it. We encourage applicants from all backgrounds to apply for this role and are committed to building inclusive, diverse workplaces where everyone can thrive. If you require any support or reasonable adjustments during the recruitment process, please let us know.