Renewal Manager Jobs in Chennai Insurance Company
⚡ Urgent Requirement🏢 Chennai Insurance Industry - Where to Find These Jobs
Chennai is one of India's most important insurance industry cities, home to Star Health and Allied Insurance (India's largest standalone health insurer), regional offices of all major life and general insurers, and a large insurance operations workforce. The city employs over 1.5 lakh insurance professionals across sales, operations, claims, underwriting, and technology.
Anna Salai, T. Nagar, Nungambakkam, and Guindy are the primary insurance employment zones in Chennai. Key private sector employers include Star Health Insurance, HDFC Life, ICICI Prudential Life, SBI Life, Bajaj Allianz Life, Tata AIA, Max Life Insurance, HDFC ERGO, ICICI Lombard, and Bajaj Allianz General Insurance.
📋 Job Description
Jobzi is sourcing qualified candidates for Renewal Manager positions in Chennai insurance companies. This role is with a leading private sector life insurer, general insurer, or health insurance company in Chennai. You will be part of India's growing insurance industry with strong career growth and competitive compensation.
📌 Key Responsibilities
- Contact due and overdue policyholders through calls, SMS, and emails to collect renewal premiums
- Identify lapse-prone policies using predictive models and prioritize outreach for high-risk cases
- Explain policy revival procedures and cost to lapsed policyholders and convert them to active status
- Coordinate with agents and branch staff for field-level renewal collection support
- Maintain renewal collection MIS including outstanding premiums, contacted status, and payment mode
- Achieve monthly renewal premium collection and lapse ratio targets set by branch management
- Handle customer queries on renewal premium amounts, coverage changes, and payment options
🎓 Qualifications and Requirements
- Any graduate degree from a recognized university
- 2 - 5 Years of insurance renewal, retention, or customer service experience
- Strong persistence and persuasion skills for phone-based renewal follow-up
- Knowledge of life or health insurance policy terms, grace periods, and lapse/revival rules
- Good CRM and database management skills for tracking renewal pipeline
- Fluent Tamil and English communication for customer outreach in Chennai market
- Target-driven approach with ability to meet monthly collection goals
✅ Required Skills
🏆 Certifications Valued
IRDAI Insurance Agent License, POSP Certificate, IRDA Composite License, NISM Series certifications, IC-33 (Life Insurance), IC-38 (General Insurance), IC-57 (Health Insurance), Licentiate / Associate / Fellow of Insurance Institute of India (III)
❓ Frequently Asked Questions
Which areas in Chennai have the most insurance company jobs?
Anna Salai (Mount Road), T. Nagar, Nungambakkam, Thousand Lights, and Guindy are Chennai's primary insurance employment zones. Star Health Insurance's headquarters in Nungambakkam is one of the largest single insurance employers. T. Nagar hosts branch offices of nearly every major insurer.
What is the average insurance company salary in Chennai in 2026?
Insurance salaries in Chennai range from Rs.15,000 for entry-level policy servicing roles to Rs.1,50,000+ for senior managers in underwriting, product, and medical affairs. Sales professionals with good incentive achievement earn Rs.60,000 - Rs.2,00,000 total monthly compensation.
What IRDAI certifications are required for insurance jobs in Chennai?
IRDAI agent license (IC-33 for life, IC-38 for general) is mandatory for field sales and advisory roles. The Insurance Institute of India offers Licentiate, Associate, and Fellowship qualifications valued for underwriting, claims, and senior roles. POSP certificate is required for point-of-sales person roles.
What is a Renewal Manager role in a Chennai insurance company?
Renewal Managers at Chennai insurance companies focus exclusively on collecting renewal premiums from existing policyholders to prevent policy lapse. They contact due policyholders, coordinate with agents, revive lapsed policies, and maintain the in-force policy book health - which directly impacts the insurer's persistency ratios and renewal income.
What is the salary for Renewal Manager in Chennai insurance in 2026?
Renewal Managers with 2-5 years experience earn Rs.25,000 - Rs.62,000 per month in Chennai plus incentives for renewal collection above targets. Strong performers consistently exceeding renewal targets earn total monthly take-home of Rs.70,000 - Rs.1,00,000.
Why is persistency important for insurance companies in Chennai?
Persistency (the percentage of policies renewed each year) is a key regulatory and financial metric for insurers. IRDAI monitors persistency ratios, and companies with low persistency face regulatory scrutiny. In Chennai's competitive insurance market, high persistency protects renewal income and signals product and service quality.
What is the salary for Renewal Manager in Chennai 2026?
A Renewal Manager in Chennai earns between Rs.25,500 and Rs.62,500 per month in June 2026, depending on experience, insurer, and performance.
What experience is required for Renewal Manager jobs in Chennai?
2 - 5 Years of relevant experience is required for Renewal Manager roles in Chennai insurance companies. Domain knowledge of insurance products and IRDAI regulations is strongly valued.