Bisakha Bharadwaz CIP, FMVA®

1. Coaching/Mentoring

• Developed a structured onboarding curriculum for new employees, focusing on intricate claim processing methodologies; this resulted in reducing the average ramp-up time from six weeks to four weeks per employee.
• Created a knowledge base of 30 internal resources, improving employee onboarding, and reducing time spent per workstream on administrative tasks by 40%.

2. Claims Handling

• Processed U.S. property claims in an efficient, solution-focused manner while adhering to reserving principles in collaboration with loss adjusters, resulting in accurate property damage assessments and fair claim settlements.
• Spearheaded the Large Loss Additional Living Expense project to ensure systematic handling of large-loss claims.

3. Quality Audits and Fraud Management

• Reviewed escalated issues pertaining to claims processing and claims complications, providing resolution or deferring to claims managers for their technical expertise to ensure the proper resolution of issues.
• Spearheaded the Work Assist quality improvement project by helping managers prepare quality checklists and conduct quality improvement checks, leading to savings of close to $120k so far.
• Led fraud detection initiatives to identify and mitigate potential fraudulent claims, ensuring compliance with company policies and minimizing financial losses.

1. Risk assessment, risk reporting, and strategy development

• Collected information required to assess potential clients and decide on the acceptable risk for a policy, and prepared reports that detail risk assessment findings.
• Prepared and submitted comprehensive risk reports to the Insurance Regulatory and Development Authority (IRDA) and senior management, ensuring compliance with regulatory requirements and deadlines.
• Prepared strategy documents and financial forecasts, cost-benefit analysis, prior to product launch.

2. Process Automation using Artificial Intelligence and Robotics Process Automation

• Spearheaded the automated Underwriting project to create personalized digital experiences for customers reducing the underwriting turnaround time by 30%.
• Liaised with cross-functional stakeholders and launched digital enablers for ground teams (sales), leading to a 20% jump in resource productivity in FY20

3. Monitoring reinsurance business and insurance market trends

• Analyzed and monitored re-insurance and primary insurance market intelligence and trends, assessed the implications for underwriting and worked with the product and legal team to establish forward looking views and recommendations.
• Maintained and updated reinsurance charters and mandates.

4. Stakeholder Management

• Effectively managed interactions with claims, actuarial, operations, and legal disciplines, who participate as team members on program business, as well as reinsurers such as Swiss Re for rate negotiations.
• Coordinated with auditors to review underwriting processes for accuracy and completeness.
• Proactively managed the underwriting relationship with Sales, driving forward the company's appetite for increased levels of new business, increased renewal retention rates, and rate strengthening.

• Prepared monthly financial performance reports for the Accounts and Finance department, focusing on revenue, expenses and profit margin.
• Analyzed cost drivers for projects in collaboration with the Project Management Office (PMO) to recommend cost-saving measures.
• Collaborated with cross-functional teams to design and implement financial models and dashboards, reducing reporting turnaround time by 30%.
• Monitored 15+ key performance indicators monthly, providing strategic insights that supported a 10% reduction in operational costs.