Senior Expert, New Business (Insurance Project)

Job Purpose

The New Business Senior Expert will play a pivotal role in the setup and launch of a new life insurance company. This role will focus on designing and implementing new business workflows, developing Standard Operating Procedures (SOPs), collaborating with internal and external stakeholders on system and service setup, and ensuring operational readiness for policy issuance. The role also involves working with third-party providers to establish seamless and efficient new business operations.

Key Accountabilities (1)

New Business Setup & Process Development

- Lead the development of new business workflows and Standard Operating Procedures (SOPs) for policy issuance and administration.

- Work closely with cross-functional teams, including IT, operations, and compliance, to define and implement efficient new business processes.

- Ensure that all new business operations are designed to be scalable and aligned with regulatory requirements and business needs.

System & Service Setup

- Collaborate with IT teams to set up and test the new business administration system, ensuring smooth policy onboarding and processing.

- Define system requirements for automation and digitization of new business workflows.

- Work with stakeholders to integrate front-end sales tools, CRM systems, and digital application processing into the overall new business setup.

Key Accountabilities (2)

Regulatory Compliance & Policy Implementation

- Ensure that new business processes align with Vietnamese insurance regulations and industry best practices.

- Work with compliance and legal teams to establish policy documentation standards and risk management protocols.

- Monitor regulatory changes and incorporate necessary adjustments into the company's new business operations.

Collaboration with Third-Party Service Providers

- Identify and engage with third-party vendors, including medical examiners, underwriting service providers, and document verification firms.

- Negotiate and establish service-level agreements (SLAs) with external partners to ensure high-quality service delivery.

- Monitor third-party performance and integrate their processes into the company’s new business operations.

Stakeholder Engagement & Cross-Functional Collaboration

- Work closely with distribution teams to design an effective new business submission process for bancassurance and agency channels.

- Collaborate with underwriting, policy servicing, and claims teams to ensure seamless transitions between different stages of the customer journey.

- Support the product development team in aligning new business processes with product launches and market strategies.

Key Accountabilities (3)

Performance Monitoring & Continuous Improvement

- Establish key performance indicators (KPIs) to measure the efficiency and effectiveness of new business operations.

- Analyze data to identify bottlenecks and areas for improvement in policy processing and customer onboarding.

- Recommend and implement enhancements to improve turnaround times and operational efficiency.

Success Profile - Qualification and Experiences

Education

- Bachelor's or Master’s degree in Business Administration, Finance, Insurance, Information Technology, or a related field.

Experience

- Minimum of 5-7 years of experience in new business operations within the life insurance industry.

- Proven experience in setting up new business operations, including workflow design, SOP development, and system implementation.

- Experience in working with third-party service providers, such as medical examiners, digital verification vendors, and underwriting platforms.

- Familiarity with regulatory requirements and operational best practices for new business in the Vietnamese insurance market.

Skills & Competencies

- Process Design & Implementation – Strong ability to develop and implement new business workflows and operational processes.

- System & IT Collaboration – Experience working with IT teams to define business requirements and integrate new business administration systems.

- Regulatory & Compliance Knowledge – Deep understanding of Vietnam’s insurance regulations and their application to new business processes.

- Third-Party Management – Ability to engage with external service providers and ensure service quality through effective contract management.

- Data-Driven Decision Making – Ability to analyze operational performance and recommend improvements based on KPIs and insights.

- Stakeholder Management – Strong communication and collaboration skills to work with internal teams, distribution partners, and vendors.