Process Analyst

About PhonePe

PhonePe is India’s leading digital payments platform with over 400+ million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and was the first non-banking UPI app and offered money transfer to individuals and merchants, recharges and bill payments to begin with. In 2017, PhonePe forayed into financial services with the launch of digital gold, providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, Corona Care, a dedicated insurance product for the COVID-19 pandemic among others.

PhonePe launched its Switch platform in 2018, and today its customers can place orders on over 300 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 18 million merchant outlets across 500 cities nationally.

Culture

At PhonePe, we take extra care to make sure you give your best at work, Everyday! And creating the right environment for you is just one of the things we do. We empower people and trust them to do the right thing. Here, you own your work from start to finish, right from day one. Being enthusiastic about tech is a big part of being at PhonePe. If you like building technology that impacts millions, ideating with some of the best minds in the country and executing on your dreams with purpose and speed, join us!

Job Summary: 

Operations Analyst – Insurance 

Position Overview: 

We are seeking a detail-oriented and analytically skilled Operations Analyst to join our dynamic team in our innovative insurance tech company. The Operations Analyst will play a pivotal role in optimizing our operational processes, enhancing efficiency, and contributing to the overall success of the company. This role requires a strong analytical mindset, excellent problem-solving skills, and the ability to collaborate effectively with cross-functional teams.

Role

• Opportunity to work on insurance related initiatives with key stakeholders of the Insurance industry in the country
• Collaboration with internal teams- product, business finance, customer service, etc to monitor and manage the category daily
• Operate independently and able to influence decisions
• Monitor business application dashboards/Reports, detect anomalies, devise & execute solutions
• Work closely with all Insurers, understand their processes, identify internal as well as external challenges and issues.
• Analyze and provide insights on issue fixes to reduce business loss
• Proactive, Strong follow ups, identifying issues and solutions, ability to influence decisions are some of the critical traits required for this role
• Collaborate with cross-functional teams to drive issue resolution and provide updates on issues and fixes.
• Coordination with external partners and vendors to ensure a smooth flow of business
• Responsible for defining, developing and communicating key metrics and business trends to partner and management teams.
• Creation and maintenance of documentation related to processes, issues, and solutions.
• Grasping the underlying processes and data flows and should be able to analyze and work on the errors
• Liaison with partner insurance for day to day business operations and act as a bridge between partner SPOC’s and internal business, product & tech team.
• Involvement in automating the processes and MIS
• Work with data to help grow the business through interventions on product and technology

Responsibilities:

• Data Analysis: Conduct in-depth analysis of operational data to identify trends, patterns, and areas for improvement. Translate data insights into actionable recommendations to drive operational efficiency and strategic decision-making. E.g., Creation of monthly / weekly reports to drive business decisions
• Process Optimization: Collaborate with various teams to evaluate current operational processes, identify bottlenecks, and propose and implement process improvements to enhance productivity, reduce errors, and streamline workflows.
• Performance Metrics: Develop and maintain key performance indicators (KPIs) to monitor operational performance. Regularly report on KPIs and provide insights to management to drive data-driven decision-making.
• Risk Management: Assist in identifying potential operational risks and gaps in processes. Work closely with risk management teams to implement solutions that ensure compliance and mitigate risks effectively.
• Cross-Functional Collaboration: Collaborate with teams such as underwriting, claims, customer service, and technology to gather insights, share best practices, and implement initiatives that optimize operations across the organization.
• Systems and Tools: Utilize various software tools and systems to extract, analyze, and visualize data, automating reporting processes wherever possible to improve efficiency.
• Documentation: Maintain accurate and up-to-date documentation of operational processes, guidelines, and procedures. Ensure that documentation is easily accessible to all relevant stakeholders.
• Project Management: Lead or participate in projects aimed at enhancing operational efficiency, which may involve coordination with different teams and stakeholders.

Ideal Candidate should have:

• Have work experience in Operations in a dynamic and fast paced environment
• Strong analytical skills with the ability to interpret complex data and draw actionable insights.
• Excellent communication skills to convey insights and recommendations to both technical and non-technical stakeholders.
• Detail-oriented mindset with the ability to work independently and collaboratively within a team.
• Be skilled in building and managing business alliances
• Strong problem-solving skills and a proactive attitude toward identifying and addressing operational challenges.
• Thrive in a competitive and a result-oriented work environment
• Knowledge of insurtech trends and emerging technologies is a plus.
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Qualifications:

• Bachelor's degree in Business, Finance, Operations Management, or a related field. Master's degree is a plus.
• Proven experience (3+ years) in an operations analysis or similar role within the insurance or financial services industry

If you are a motivated and analytical professional looking to make a meaningful impact in the insurtech space, we encourage you to apply and become part of our dedicated team. Please submit your resume and a cover letter detailing your relevant experience and how you can contribute to our company's success.