Hemant Bhawsar Email and Phone Number
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• Certified Lean Six Sigma Black Belt professional mentored more than 60 projects in Six Sigma. • Process Risk Identification: Successfully identified a process risk of ₹3,200 Crore during FY 2023-24, highlighting potential vulnerabilities and areas for improvement.• Innovative Solutions: Launched the industry's first Artificial intelligence-based financial underwriting product designed to identify risk and digitize values in financial documents, significantly enhancing the underwriting process.• Risk Management: Facilitated RCSA, Key Risk Indicator, and risk incident management for various departments. • Strategic Improvement: Institutionalized process improvements and infused new ideas to maximize synergy across the value chain, leading to top-line growth and bottom-line savings.Key Skills:Claims Processing & HandlingUnderwriting & Risk AssessmentProcess Improvement (Six Sigma)Audit & Compliance (ISO 9001 2015)Innovation & Design ThinkingSales SupportNotable Accomplishments:Streamlined claims processes resulting in faster claim handling times.Developed underwriting workflow, improving policy approval rates.Increased customer retention by 16% in the direct sales channel through improved maturity retention.Implemented an innovation management framework, including skills development and idea review processes, to drive organizational growth.Aiming to leverage my extensive experience and skills to contribute to the success of a dynamic organization in the insurance industry.
Hdfc Life
View- Website:
- hdfclife.com
- Employees:
- 17635
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Chief Manager - UnderwritingHdfc Life Aug 2021 - PresentMumbai, Maharashtra, India• Developed and implemented an AI-driven financial underwriting product that identifies red flags and detects fraud across various financial documents.• Successfully handled internal audits such as SDA and thematic audits. Proficiently managed data provision, query response, and report reviews.• Collaborated seamlessly with the risk team to conduct Risk Control Self-Assessment (RCSA), develop Business Continuity Plans (BCP), and contribute to comprehensive risk reporting.• Established and maintained robust processes and controls to ensure strict adherence to ISO 27001 standards for the department.• Implemented meticulous control checks on diverse underwriting guidelines, detecting key risk factors, ensuring compliance, and identifying process enhancement opportunities.• Documented and finalized the scope for shortlisted products, enhancing the organization's technological capabilities• Successfully collaborated with internal and external stakeholders for the seamless onboarding of new products• Integrating various products in the underwriting journey to digitalize and automate underwriting• Conducted comprehensive risk reviews, identifying and addressing risk areas in various processes• Ensured timely and appropriate actions were taken to mitigate identified risks, contributing to a proactive risk management approach.
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Chief Manager-Direct MarketingKotak Life Jan 2019 - Aug 2021Mumbai, Maharashtra, IndiaDriving quality and establishing strong governance framework in sales channel -
Deputy Chief Manager Quality Excellence And InnovationKotak Life Dec 2017 - Jan 2019Mumbai, Maharashtra, India
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Deputy Chief Manager Process Excellence And Risk ManagementKotak Life Insurance Jan 2015 - Dec 2017Mumbai• Build a portfolio of process improvement projects - which are prioritized together with process owners.• Serve either as project lead or project coach/ mentor to improvement projects using industry standard improvement methodologies like LEAN & Six Sigma etc• Embed continuous improvement capabilities into the organization by orchestrating specific process training to the process participants to empower them to implement process improvements measures themselves.• Conducting various training and workshops for six sigma and lean.• Driving Innovation program in the organization.
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Manager UnderwritingKotak Life Insurance May 2008 - Dec 2014Underwriting Operations• Deciding whether applications for insurance cover (risks) should be accepted and on what terms after assessing a risk according to the likelihood of a claim being made by weighing up a number of factors. • Underwriting new proposals within established guidelines of both standard (given ordinary rating) and substandard (extra ratings) lives. • Assessing risk and decision-making process for new business groups. • Monitoring insurance of coverage plans to members on a timely basis and within underwriting procedures. • Monitoring end to end TAT for all proposals logged in from Branch to dispatch of policy document.• Management of day to day operations of underwriting team.• Ensure proposal policies are placed with correct reinsurer, and audit all reinsurance placements.
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Deputy Manager ClaimsKotak Life Insurance Jul 2006 - Nov 2008Mumbai Area, India• Informing the clients if claims are accepted, organising payments to clients.• Ensuring all enquiries / payments is dealt with quickly, keeping the files & documents updated.• Recording the payments made to the beneficiaries• Determining beneficiaries and policy proceeds. • Preparing reports to assess net liability of claims.• Working in conjunction with lawyers; in case of legal claims; assessing evidence points on company’s behalf.• Generating various reports including monthly claims reports, reports on preferred garages about their business to the company, reports for the marketing team to assist them in business generation, etc.• Addressing claims complaints, maintained records of products and generated periodic production reports to indicate type and quality of claim decisions. • Responsible for establishing efficient and effective claim handling procedures.
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ExecutiveHeritage Health Services Aug 2005 - Jul 2006• Assessing the claims on overseas medical policies (travel insurance) of 4 public sector companies.• Coordinating with Medical and Legal team for claims and referring the same to top management.• Maintaining requisite documents, initiating investigation where required, analyzing the documents & records, recommending the decision.• Providing the emergency assistance to the customers.• Mentoring the team members to ensure the timely processing of the claims.
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ExecutiveBajaj Allianz General Insurance Co. Ltd. 2003 - 2005
Hemant Bhawsar Skills
Hemant Bhawsar Education Details
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Marketing -
Sir J.J Fort Boys High SchoolSsc -
Insurance
Frequently Asked Questions about Hemant Bhawsar
What company does Hemant Bhawsar work for?
Hemant Bhawsar works for Hdfc Life
What is Hemant Bhawsar's role at the current company?
Hemant Bhawsar's current role is Helping Life Insurance Organisations achieve Process Excellence and Quality through Technology Optimization. Executed AI-based Financial Underwriting Automation project thus reducing processing time by 30%.
What is Hemant Bhawsar's email address?
Hemant Bhawsar's email address is he****@****ail.com
What schools did Hemant Bhawsar attend?
Hemant Bhawsar attended Welingkar Institute Of Management, Sir J.j Fort Boys High School, Insurance Institute Of India.
What skills is Hemant Bhawsar known for?
Hemant Bhawsar has skills like Marketing Management, Tuv, Scrutinizing, Customer Contact, Help Desk Support, Sound, Payments, Insurance, Iso, Data Entry, Consideration, Marathi.
Who are Hemant Bhawsar's colleagues?
Hemant Bhawsar's colleagues are Rajesh Vyas, Anil Kumar Vejendla, Sandeep Patel, Rushikesh Dhumal, Reja Haider, Shreyash Tejam, Ajeet Bhaskar.
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