SBI General Insurance Operations Executive Interview: Rounds, Questions and Preparation

What the job involves

An Operations Executive in banking, finance, or insurance handles the daily processing of transactions, policies, and customer requests to ensure smooth back-end and front-end operations. At a general insurance company like SBI General Insurance, this could involve policy issuance, endorsement processing, claims documentation, and coordinating with branches and partners. The role demands accuracy, turnaround time adherence, and compliance with regulatory and internal guidelines.

Role and Technical Knowledge

1. 1

   What are the key steps in issuing a general insurance policy?

   Cover proposal form receipt, KYC verification, underwriting, premium calculation, policy generation, and dispatch to customer.

2. 2

   What is the difference between a claim and a reimbursement in insurance operations?

   Explain that a claim is a request for payment under the policy, while reimbursement is when the insured pays first and then seeks repayment from the insurer.

3. 3

   What documents are typically required for KYC in an insurance transaction?

   Mention identity proof (Aadhaar, PAN, passport), address proof, and recent photograph; also note that requirements may vary by product and channel.

4. 4

   How would you handle a discrepancy in premium calculation?

   Describe checking the rating logic, verifying with the underwriter, correcting the system entry if needed, and informing the customer or intermediary promptly.

Practical Scenarios

1. 5

   A customer calls angrily because their policy document has not arrived. How do you handle it?

   Show empathy, check dispatch status, provide a timeline, offer a soft copy if possible, and follow up to ensure delivery.

2. 6

   You notice a colleague has skipped a mandatory verification step to meet a deadline. What do you do?

   Emphasise compliance over speed, report to supervisor, suggest re-verification, and discuss how to avoid such shortcuts in future.

3. 7

   You have multiple tasks: policy issuance, claim documentation, and a customer query. How do you prioritise?

   Prioritise based on urgency, impact, and deadlines; use a to-do list; communicate timelines to stakeholders; and escalate if needed.

4. 8

   A customer wants to cancel a policy and demands a full refund. How do you proceed?

   Explain the cancellation terms, check free-look period if applicable, calculate refund as per policy, and process after obtaining necessary approvals.

Behavioural and HR

1. 9

   Why do you want to work in operations rather than sales or other functions?

   Highlight interest in process, accuracy, problem-solving, and the satisfaction of enabling smooth customer experiences.

2. 10

   Describe a time you had to learn a new process quickly. How did you go about it?

   Use STAR method: situation, task, action (e.g., studied manuals, asked questions, practised), and result (e.g., became proficient within a week).

3. 11

   How do you ensure accuracy when doing repetitive tasks?

   Mention checklists, double-checking critical fields, taking short breaks to maintain focus, and using system validations.

4. 12

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

   Show ambition to master the role, take on more responsibilities, and contribute to process improvements, possibly moving to a senior operations or specialist role.

Company and Sector Awareness

1. 13

   What do you know about SBI General Insurance and its products?

   Mention it is a general insurance joint venture, offers motor, health, home, and commercial insurance, and is known for its wide branch network and bancassurance tie-up.

2. 14

   What are the current trends in the Indian general insurance industry?

   Talk about digitalisation, increase in health insurance penetration, regulatory changes like IRDAI's focus on ease of doing business, and growth in motor insurance.

3. 15

   How does IRDAI regulate insurance operations?

   Cover guidelines on solvency, policyholder protection, claim settlement timelines, and mandatory disclosures; mention that operations must adhere to these.

4. 16

   Why is customer service important in insurance operations?

   Explain that operations directly impact customer trust and retention; timely and accurate service leads to renewals and referrals.