LazyPay Claims Executive Interview: Rounds, Questions and Preparation

What the job involves

A Claims Executive in neobanking, lending, and insurtech handles customer claims and disputes related to digital transactions, loan defaults, insurance claims, and chargebacks. Day to day, you investigate claim validity, coordinate with internal teams and external partners, ensure timely resolution, and maintain accurate records while complying with RBI guidelines and company policies.

Role and Technical Knowledge

1. 1

   What are the key steps in processing a chargeback claim for a digital transaction?

   Cover: customer raising dispute, gathering evidence, submitting to network, timeline adherence, and communication. Mention RBI guidelines on turn-around time.

2. 2

   How do RBI guidelines impact digital lending and claims resolution?

   Focus on fair practices code, grievance redressal, data privacy, and timely resolution. Show awareness of recent updates.

3. 3

   What is the difference between a fraud claim and a genuine default in lending?

   Explain intent, verification methods, and how each is handled differently in claims processing. Mention fraud detection tools.

4. 4

   What are the common documents required for an insurance claim in insurtech?

   List policy details, proof of loss, KYC, and any specific forms. Highlight digital submission and verification.

Practical Scenarios

1. 5

   A customer claims a transaction was unauthorized but the merchant provides delivery proof. How do you proceed?

   Show balanced investigation: verify customer's claim, check IP logs, communicate findings, and follow dispute resolution process.

2. 6

   You have a backlog of claims and a customer is escalating. How do you prioritize?

   Discuss triage based on urgency, value, and regulatory timelines. Mention communication to manage expectations.

3. 7

   How would you handle a claim where documents are incomplete but the customer is unresponsive?

   Outline follow-up attempts, escalation, and closure per policy. Emphasize documentation and fairness.

4. 8

   If you suspect internal collusion in a claim, what steps would you take?

   Highlight reporting to fraud team, evidence gathering, and confidentiality. Mention zero-tolerance policy.

Behavioural and HR

1. 9

   Tell me about a time you had to explain a complex process to someone who was upset.

   Use STAR method: situation, task, action, result. Show empathy and clarity in communication.

2. 10

   Why do you want to work in claims at a neobanking or insurtech company?

   Connect personal interest in fintech, problem-solving, and customer protection. Mention growth opportunities.

3. 11

   How do you handle pressure when multiple claims are urgent?

   Describe prioritization, time management, and staying calm. Give an example if possible.

4. 12

   Where do you see yourself in three years in this role?

   Show ambition to grow into senior claims or fraud prevention roles. Align with company's growth.

Industry and Company Awareness

1. 13

   What do you understand about the neobanking and lending ecosystem in India?

   Mention key players, RBI regulations, digital adoption, and challenges like NPAs and fraud.

2. 14

   How does insurtech differ from traditional insurance in claims handling?

   Focus on automation, faster processing, use of AI, and customer experience. Give examples.

3. 15

   What recent change in RBI guidelines affects digital lending claims?

   Discuss guidelines on data storage, consent, and grievance redressal. Show you follow industry news.

4. 16

   Why are companies like LazyPay focusing on claims efficiency?

   Link to customer trust, regulatory compliance, and operational cost. Show understanding of business impact.