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Job Description
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The Policy Maintenance Officer – Retail Life is responsible for ensuring the accurate and timely update of individual life policy records throughout the policy lifecycle. This includes managing beneficiary changes, corrections to customer details, and implementing policy amendments such as reinstatements.
KEY TASKS AND RESPONSIBILITIES
- Execute servicing instructions related to policy changes, including contact details, benefit options, nominee updates, and policy reinstatements.
- Update policy records on the administration system with high attention to accuracy and audit trail integrity.
- Validate requests for compliance with policy terms, documentation completeness, and applicable approvals.
- Collaborate with customer service and operations teams to resolve servicing exceptions and ensure SLAs are met.
- Support issuance of revised documentation to clients, including endorsement letters and policy confirmations.
- Respond to queries and complaints related to policy updates, ensuring timely and customer-sensitive resolution.
- Participate in regular reviews of policy servicing processes and recommend automation or process improvements.
- Maintain secure records of all amendments and ensure data consistency across internal platforms.
- Perform quality assurance to all issued new businesses.
- Ensure policy maintenance transactions comply with Insurance Regulatory Authority (IRA) standards, the Data Protection Act (DPA), and Anti-Money Laundering (AML) obligations.
SKILLS AND COMPETENCIES
- Strong attention to detail.
- System accuracy and validation skills.
- Collaborative and responsive.
- Customer-centric mindset and service responsiveness.
- Discretion and confidentiality in handling personal and policy data.
KNOWLEDGE & EXPERIENCE
- 2-3 years’ experience in policy administration or servicing
- Familiarity with life insurance administration systems and processes
- Knowledge of life insurance products and policy administration processes
- Proficiency in CRM tools and Microsoft Office applications
QUALIFICATIONS
- Bachelor’s degree in commerce or a related field.
- Progress towards professional certification (e.g., AIIK, ACII, ALMI) preferred.
ANTI-MONEY LAUNDERING (AML) EXPECTATION
The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries.
This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.
Skills
Consultative Selling, Customer Complaint Management, Customer Feedback Management, Customer-Focused, Customer Relationship Management (CRM) Software, Customer Service, Customer Service Operations, Customer Understanding, Data Management, Digital Consumer Engagement, Identifying Sales Opportunities, Probing Questions, Sales Data Management, Strengthening Customer Relationships, Upselling
