Insurance Operations Associate - Group Core Benefits

Insurance Operations Associate

Skill required: Group Core Benefits - Group Disability Insurance
Designation: Insurance Operations Associate
Qualifications:Any Graduation
Years of Experience:1 to 3 years
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security.Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services, and Accenture Song— all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 784,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.Visit us at www.accenture.com
What would you do? We help insurers redefine their customer experience while accelerating their innovation agenda to drive sustainable growth by transforming to an intelligent operating model. Intelligent Insurance Operations combines our advisory, technology, and operations expertise, global scale, and robust ecosystem with our insurance transformation capabilities. It is structured to address the scope and complexity of the ever-changing insurance environment and offers a flexible operating model that can meet the unique needs of each market segment. Group Core Benefits involves managing employee benefits programs such as health insurance, retirement plans, and paid time off. The role includes designing benefit packages, ensuring compliance with regulations, and communicating options to employees. The goal is to provide competitive and comprehensive benefits that attract and retain talent. This position requires knowledge of benefits administration and strong organizational skills. Effective management of group core benefits enhances employee satisfaction and well-being. Group disability coverage is tied to employment. If change or loss of job, the coverage is not portable. The cost of group coverage can also change from year to year. It is a sort of insurance that pays out if a policyholder is unable to work and earn an income due to a disability.
What are we looking for? •Ability to establish strong client relationship •Ability to handle disputes •Ability to manage multiple stakeholders •Ability to meet deadlines •Ability to perform under pressure • 2 years of experience in US Group Insurance domain – Billing/Census (preferred) / similar experience in other insurance domain (acceptable) • Proficient in Insurance accounting system and variance analysis • Possesses a good ability to understand and analyze information to draw insightful conclusions • Knowledge of MS Office Tools (MS Excel preferred) • Ensure that payment received from clients and payments applied to the system reconcile with the plan set up on the system • Manage, research and resolve any variances that may arise post review • Follow up on the variances until it is resolved • Prepare, monitor and analyze various business enabling reports like AR Aging, High Dollar Funds in suspense, Write-off etc • Respond to inquiries and requests from internal and external clients on all billing issues • Collaborate with the clients and onshore team to resolve premium variances • Prepare cash receipts and payment reports to monitor pending actions • Coordinate with internal/external stakeholders for the payment discrepancies and fund request • Month over month variance analysis for any over/under payment or no payment received and researching the root cause of such anomaly and reaching out to the concerned POC for the payment • Update and send the funding report with the necessary actions • Create or update procedure manuals, ensuring that process are documented accurately, and documentation is kept current • Review the outstanding transactions and follow up with the client and track progress • Research on any queries/ requests sent by the Business Partners/Client Support T
Roles and Responsibilities: •In this role you are required to solve routine problems, largely through precedent and referral to general guidelines • Your expected interactions are within your own team and direct supervisor • You will be provided detailed to moderate level of instruction on daily work tasks and detailed instruction on new assignments • The decisions that you make would impact your own work • You will be an individual contributor as a part of a team, with a predetermined, focused scope of work • Please note that this role may require you to work in rotational shifts