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Job Description

As Journey Owner, you will be responsible for designing, optimizing, and managing the customer journey across various touchpoints and channels to ensure a seamless and positive experience for customers/advisor. You will work closely with cross-functional teams, including marketing, sales, product, customer support, and IT, to align strategies and initiatives that support the overall customer journey.

The Premium Management Journey Owner is responsible for the end-to-end management and optimization of customer premium experiences across Old Mutual's life insurance, funeral, savings, and investment products. This includes overseeing premium collection, payment adjustments, arrears management, and customer communications. The Journey Owner drives strategic improvements across all channels (digital, in-person, call center), all processing areas and ensures processes are efficient, customer-centric, and compliant. They will lead efforts in process optimization, digital transformation, compliance, and stakeholder collaboration to enhance customer satisfaction, meet regulatory requirements, and achieve operational excellence.

STRATEGIC LEADERSHIP & CUSTOMER JOURNEY OPTIMIZATION:

Develop and implement a strategy to enhance the premium management journey for life insurance, funeral, savings, and investment customers, ensuring it aligns with Old Mutual’s broader service standards and business objectives.Continuously assess and improve the customer journey related to premium collection, payment adjustments, arrears handling, and overall payment experience to provide clarity, transparency, and efficiency.Analyze and align premium management processes to support a seamless, customer-centric experience across all product lines in the servicing department.Removing friction, driving point of contact resolution, a seamless and integrated experience across all channelsDevelop a deep understanding of the customer journey, from awareness to post-purchase support.Identify pain points and opportunities for improvement within the customer journey.Monitor and analyse customer behaviour and feedback to identify trends and insights that can inform decision-making.Drive initiatives to optimize and streamline the customer journey, leveraging technology and data-driven insights.Champion a customer-centric mindset within the organization and advocate for continuous improvement in the customer/advisor experience.Stay informed about industry trends and best practices related to customer/advisor experience and journey mapping.

OPERATIONAL EFFICIENCY & PROCESS IMPROVEMENT:

Oversee the re-engineering of front-office and back-office processes to reduce cycle times and improve efficiency.Lead initiatives to streamline premium collection processes, improve collection rates, and reduce manual interventions while enhancing accuracy.Oversee the timely and accurate collection of premiums, payment method adjustments, and arrears resolution.Leverage technology and automation to optimize premium management, enhance digital payment capabilities, and minimize delays or errors in collections.Implement process improvement methodologies (e.g., Lean, Six Sigma) to identify inefficiencies, reduce cycle times, and enhance data accuracy and process consistency.Utilize digital tools to support premium management activities, improve payment experiences, and enable self-service options for customers.

QUALITY ASSURANCE & CUSTOMER SERVICE EXCELLENCE:

Establish and enforce quality assurance standards for premium collections, adjustments, and arrears resolution, ensuring accuracy, compliance, and exceptional service delivery.Regularly monitor customer interactions and feedback to identify areas for improvement and implement corrective measures to enhance the premium journey experience.Establish and monitor quality standards for all customer-facing and back-office activities to ensure high-quality service delivery and customer satisfaction.Implement training and performance management programs to ensure that staff engage with customers professionally, empathetically, and in a manner consistent with company values and customer fairness principles.Conduct regular quality assurance checks, audits, and coaching to ensure that staff interactions and processing meet required service standards, regulatory compliance, and customer expectations.

COMPLAINTS, ESCALATIONS, AND DISPUTE RESOLUTION:

Structured Complaints Management: Create a structured framework for handling and resolving premium-related complaints, ensuring quick, transparent, and fair outcomes.Effective Escalation Process: Establish clear pathways for escalating complex premium-related issues, minimizing delays, and improving the customer experience.Analyze & Resolve Root Causes: Review complaints and disputes regularly to identify root causes and implement improvements that prevent reoccurrence and enhance satisfaction.

CHANGE MANAGEMENT & ENABLEMENT:

Lead Process & Technology Changes: Drive the development and successful implementation of change initiatives impacting premium management, ensuring smooth transitions for staff and customers.Stakeholder Engagement & Collaboration: Engage cross-functionally with product, finance, customer service, IT, and compliance teams to manage and communicate change effectively.Staff Training & Enablement: Provide comprehensive training to empower teams to adopt new premium management processes, technologies, and service standards effectively.

STANDARD OPERATING PROCEDURES (SOPS):

Create & Maintain SOPs for Premium Management: Develop detailed SOPs covering premium collections, payment adjustments, arrears management, and communications across all product categories.Regular SOP Review & Compliance: Ensure SOPs are kept up-to-date with product changes, compliance requirements, and industry best practices for efficient, accurate, and compliant premium management.Training & Monitoring: Train teams on SOPs to ensure adherence and monitor compliance to maintain quality and operational standards consistently.

DIGITAL TRANSFORMATION & SELF-SERVICE ENABLEMENT:

Drive digital transformation to enhance the premium payment journey by promoting the use of online payment channels, self-service tools, and automation.Enhance Digital Experience: Implement and improve digital platforms, such as online portals, mobile apps, and chatbots, enabling customers to manage payments, arrears, and adjustments seamlessly.Monitor and enhance digital adoption and user experience, ensuring customer needs are met efficiently through self-service capabilities.

RISK AND COMPLIANCE:

Making sure all legislation applicable to the journey are met and there is appropriate risk monitoring and management.Identify potential risks associated with premium collection, arrears management, and payment handling, developing strategies to mitigate these risks proactively.Establish and enforce quality assurance standards to ensure accurate and timely premium collections, correct payment adjustments, and effective handling of arrears.Implement controls to detect and manage discrepancies, fraud, and inefficiencies in the premium management process.Possess in-depth knowledge of premium collection rules, product pricing, and payment rules across life insurance, funeral, savings, and investment products.Ensure that premium management processes align with product-specific requirements, including payment schedules, fee structures, and coverage adjustments.Stay informed of industry payment regulations, collection rules, and standards affecting premium processing, ensuring compliance with both internal policies and external regulatory requirements.Ensure adherence to regulatory requirements, compliance standards, and industry rules governing premium collections, payment adjustments, and arrears management.Maintain a comprehensive understanding of regulations impacting premium payments, including financial conduct standards, payment system rules, and consumer protection laws.Implement processes for tracking and documenting compliance with regulatory requirements and industry practices throughout premium management activities.

CUSTOMER COMMUNICATION & SUPPORT:

Design and implement a communication strategy that keeps customers informed about premium payment schedules, arrears, upcoming payments, and policy changes across all product lines.Develop customer-friendly resources, including FAQs, payment guides, and educational content to facilitate a smooth understanding of premium management.Train and empower customer service teams to provide consistent, empathetic, and efficient support for premium-related inquiries, complaints, and arrears resolution.Customer-Centric Communication Strategy: Develop clear, empathetic, and consistent communication protocols to keep customers informed about their premium obligations, payment status, and any issues.

ARREARS MANAGEMENT & CUSTOMER RETENTION:

Develop strategies for early intervention in arrears situations, providing flexible payment options and tailored solutions to reduce non-payment rates.Implement mechanisms for customer retention through premium holidays, payment catch-up arrangements, and other flexible options to minimize policy lapses.Monitor arrears trends across all product lines and collaborate with relevant teams to create action plans that address systemic issues and improve customer outcomes.

PEOPLE LEADERSHIP:

Collaborate with cross-functional teams to develop and implement strategies to enhance the customer experience.Define key performance indicators (KPIs) to measure the effectiveness of the customer journey.Lead, mentor, and develop a diverse team focused on process improvement, customer service, and excellence.Foster a collaborative, high-performing culture that emphasizes accountability, innovation, and continuous learning.Provide clear direction and set measurable objectives to empower team members and drive performance aligned with business and customer goals.

STRATEGIC PLANNING AND DEVELOPMENT:

Understanding overall business objective, competitor landscape, providing thought leadership and foresight to ultimately to provide a leading customer journey experience

STAKEHOLDER MANAGEMENT AND COMMUNICATION:

Managing all stakeholders involved in the overall journey experience across departments and also across journeys where relevant.Deep understanding of all segments in which we operate and nuances to meet customer needsWork closely with product teams, finance, IT, legal, customer service, and external partners to ensure smooth premium collection processes across all product categories.Serve as a key liaison between internal departments and external stakeholders, ensuring alignment on premium collection policies, payment processes, and customer communication strategies.Facilitate discussions and problem-solving for any challenges that may arise in premium management, ensuring timely resolution and alignment with Old Mutual’s standards.

DATA ANALYTICS & PERFORMANCE MONITORING:

Utilize data analytics to gain insights into payment behaviors, premium collection success, and arrears trends across life insurance, funeral, savings, and investment products.Monitor key performance indicators (KPIs) such as premium collection rates, arrears resolution times, customer satisfaction with payment processes, and digital payment adoption.Establish a feedback loop to refine premium management processes based on customer feedback, data-driven insights, and operational performance.

KEY PERFORMANCE INDICATORS (KPIS):

Customer Satisfaction: Improvement in Net Promoter Score (NPS), Complaints reduction, Quality Assurance other customer satisfaction metrics related to the claims journey.Operational Efficiency: Reduction in premium request processing times and operational costs, improved cycle times, self-service adoption, automation rate and premium processing accuracy.Team Performance: Development of a high-performing, motivated, and collaborative claims and change enablement team.Premium Collection Success: Improvement in collection rates, reduction of arrears, and timely processing of premium payments across all product lines.Customer Satisfaction & Communication: Positive feedback on premium management processes, transparent and timely communication, and effective handling of premium inquiries.Digital Payment Engagement: Increase in customer adoption of digital payment options and self-service premium management tools.Operational Compliance & Risk Management: Consistent adherence to compliance requirements, effective risk mitigation, and reduction in payment-related discrepancies.Customer Retention & Arrears Resolution: Proactive arrears management, reduction in policy lapses, and the successful application of flexible payment options for customer retention.

MINIMUM QUALIFICATIONS/EXPERIENCE (REQUIRED FOR THE JOB)

Appropriate Bachelor’s degreeProven track record of risk management experience.At least 6 years at middle/senior management level in financial service industry.Demonstrated experience in project and stakeholder management.Experience in managing cross-functional teams and driving process improvements.Proven track record in premium management, payments processing, customer journey mapping (or components thereof) or operations within financial services, preferably within life insurance, funeral, or savings/investment products.Proven management experience with premium collection, payment handling, arrears resolution, and customer support within a regulated financial environment.Experience in digital transformation & self-service enablement.

ADDITIONAL QUALIFICATIONS/EXPERIENCE (PREFERRED, NOT A REQUIREMENT)

Knowledge of Agile methodology and experience in managing Agile Teams

COMPETENCIES REQUIRED

Strategic

Collaboration (Relating)

Customer (claim stakeholder) first

Execution

Innovation (Perspective)

Leading with influence

Personal Mastery (Learning)

Cross-Functional Collaboration

Data-Driven Decision Making

Technical Knowledge

Agility to deal with changing regulative, legislative & procedural environments.

Skills

Communication, Customer Satisfaction, Payment Handling, Process Improvements, Standards Compliance

Education

Bachelors Degree (B) (Required)

Closing Date

31 October 2024

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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