| Detail | For this role |
|---|---|
| Department | Insurance |
| Level | Entry level |
| Reports to | Operations Manager |
| Direct reports | None |
| Experience | 1 to 4 years in policy servicing or customer service |
Policy Servicing Executive job description template
Copy this job description, replace the text in square brackets and post it on your careers page or a job portal.
Job title: Policy Servicing Executive
Department: Insurance
Reports to: Operations Manager
Location: [City], [office, branch or site]
About the role
A Policy Servicing Executive looks after existing policyholders, handling changes, queries and requests through the life of the policy. They process nominee and address changes, help with revivals, answer queries and resolve service requests. The role reports to the Operations or Service Manager. A good policy servicing executive resolves requests quickly and correctly, keeps policy records accurate, helps customers revive lapsed policies, explains options clearly, and keeps existing customers satisfied so they stay with the insurer and renew year after year.
Key responsibilities
- Process policy changes such as nominee, address, contact and bank updates.
- Handle policyholder queries on cover, premium, benefits and status.
- Help customers revive lapsed policies with the right steps and documents.
- Process service requests such as fund switches, loans and surrenders where allowed.
- Verify requests and documents before making changes to a policy.
- Keep policy and customer records accurate after every change.
- Coordinate with underwriting and operations to resolve complex service requests.
- Resolve service requests within the agreed turnaround set for the desk.
- Explain the available options clearly so customers can make an informed choice.
- Escalate grievances and complex cases to the service manager.
Requirements
- Graduate in any stream
- Good computer and communication skills
- Knowledge of insurance policies is an advantage
- 1 to 4 years in policy servicing or customer service
KRAs and KPIs for a Policy Servicing Executive
Key result areas for the appraisal form, each with a KPI you can measure every month or quarter.
| Key result area | How to measure it |
|---|---|
| Request turnaround | Service requests resolved within the agreed turnaround above target |
| Accuracy | Policy changes made without error above the agreed level |
| Revival support | Lapsed policy revivals supported against the agreed target |
| Customer satisfaction | Service satisfaction above the agreed benchmark |
| Record quality | Policy records kept accurate after changes above target |
| Grievances | Service grievances kept below the agreed level |
Skills and tools
Tools used day to day: Policy administration system, CRM software, MS Excel, Document management tools, Call and messaging tools.
Reporting line and career path
Next roles: Operations Manager, Service Team Leader, Branch Operations Head
Interview questions for a Policy Servicing Executive
- How do you verify a nominee or bank change before you make it?
- How do you help a customer revive a lapsed policy?
- How do you explain a fund switch or surrender option clearly?
- How do you keep policy records accurate after a change?
- How do you handle a customer unhappy with a service delay?
- How do you prioritise a heavy queue of service requests?
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What does a Policy Servicing Executive do?
A Policy Servicing Executive looks after existing policyholders through the life of the policy. They process changes such as nominee, address and bank updates, handle queries, help revive lapsed policies and resolve service requests. They verify documents, keep records accurate and keep customers satisfied so they stay and renew.
What is the difference between policy servicing and claims?
Policy servicing handles the day to day life of a policy: changes, queries, revivals and requests. Claims handles what happens after a loss, assessing and settling what is owed. Servicing keeps the policy correct and the customer satisfied; claims pays out when the insured event occurs.
What skills does a Policy Servicing Executive need?
The role needs accurate change processing and command of the policy administration system, plus query handling and revival support. Add document verification, clear communication and patience, since the executive explains options and resolves requests for existing customers who expect quick, correct service.