About the role
Job Description
Job TitleVP Head– ClaimsLocationGurgaon HODepartmentUnderwriting, claims, new business onboarding and governanceFunctionClaimsReporting to
Director Chief Underwriter
Band3AJob Summary
Responsible for the overall direction, governance, control, and management of Claims Operations for the organization. The role is focused on building a customer-centric, risk-aware, compliant, and future-ready Claims function that contributes significantly to business growth, customer trust, and organizational profitability. The position requires strategic leadership to drive operational excellence, industry-leading customer experience, risk management, digital transformation, and talent development while ensuring adherence to regulatory requirements and Company policies.
KEY RESPONSIBILITIES: -
Drive Claims Strategy Functional Excellence
Formulate and drive the long-term strategy, objectives, and priorities for the Claims function in alignment with organizational goals and market dynamics
Ensure effective governance and oversight of all claims decisions within the ambit of regulatory guidelines, industry practices, and Company policies.
Lead engagement with Claims Council, industry forums, reinsurers, and regulatory bodies to influence and adopt best practices.
Ensure effective management of high-value, complex, and sensitive claims cases.
Build Strong Risk Management Practices
Drive prudent risk management in claims by effective assessment investigation processes.
Lead building of sound risk management practices by enabling experience analysis, feedbacks to distribution, participation in mortality management and product development.
Compliance with Regulatory guidelines
Ensure adherence to all applicable IRDAI regulations, Insurance Act provisions, customer protection guidelines, grievance redressal requirements, and internal governance standards.
People Management-
Build and lead a highly engaged, capable, and customer-focused claims organization.
Develop leadership pipelines, succession plans, and critical talent capabilities across the Claims function.
Partner with HR to drive employee engagement, capability building, leadership development, retention, and recognition initiatives.
MEASURES OF SUCCESS:
Industry-leading Claims Settlement Ratio and Claims Settlement TAT.
Achievement of SLA and regulatory compliance requirements across all business lines.
Strong audit ratings with timely closure of control gaps and regulatory observations.
Effectiveness of engagements with Claims Council to deliver on key agendas.
High level of distributor customer satisfaction scores.
Successful implementation of digital transformation and automation initiatives.
Effectiveness of Change Management
KEY PERSONAL COMPETENCIES:
Strategic Thinking and Business Acumen
Strong Leadership and Team Building Skills
Strong Communication and Influencing Skills
Change and Transformation Leadership
Effective Stakeholder Management
Effective cross functional collaboration
Post Graduate/MBA preferably inLaw, Finance, Medicine orInsurance
Strong technical knowledge of Life Insurance Claims, Risk Management, Regulatory Frameworks, and Reinsurance.
Added qualifications from Insurance Institute of India, LOMA, ICA etc will be preferred.
Professional certifications from LOMA, ICA, Insurance Institute of India, or equivalent institutions desired
Minimum 15-18 years of relevant experience with significant leadership experience in Claims Management.
Excellent business writing, presentation, stakeholder management, and negotiation skills.
Experience in managing regulatory and industry-level interactions.
About Axis Max Life Insurance
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr. For more information, please visit the company website at www.maxlifeinsurance.com.
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