Insurance Operations Associate

Designation: Insurance Operations Associate

About Accenture

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

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.

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.

• 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

• 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