Process Analyst, Insurance BizOps
About PhonePe Group:
PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.
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:
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.
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.
PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)
- Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
- Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
- Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
- Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
- Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment
- Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy
Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.
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