Ashish Kanakia
Senior Insurance Professional
Kuala Lumpur,Kuala Lumpur WP
Summary
Senior professional well-versed in holistic management to drive the profitability of key business functions. Utilizing Underwriting and claim adjudication as a risk management process and developing these processes as key business drivers to maximize operational profits and improve the market position of the organization.
Overview
30
30
years of professional experience
Work History
Head of Health
Reinsurance Group of America
02.2023 - Current
- Responsible for overall health portfolio, development, and implementation of health strategy.
- Lead health team to develop capabilities by implementing strategic health initiatives.
- Partner in business development by pursuing business opportunities & rate review negotiations.
- Manage inforce portfolio profitability and sustainability to enhance value of portfolio.
- Led and coordinate all activities for managing health portfolio, leading monthly health meetings, driving experience analysis, triggering rate reviews, and working on management solutions & actions.
Director – Technical Services, Medical Business Management, Operational Excellence
Prudential Assurance Malaysia
01.2017 - 01.2023
- Includes additional areas of responsibilities – Responsible for managing overall Loss ratio for medical business working holistically on all different fronts, product development, Underwriting, Claims, Analytics, Hospital Network Management, automation of claim function, and Fraud management.
- Spearheading smart claim project to result in straight-through processing & significant claim savings and Next Generation Underwriting to implement various innovative initiatives including implementing new underwriting engine and leveraging tools to simplify the onboarding process.
- Claims Analytics, to initiate a robust data analysis to identify trends in areas of claims, hospitals, and agents (identifying red flags & potential frauds).
- Implementing various initiatives to improve claims function such as JPN initiative, health ecosystem & Targeted treatment coverage by engaging with pharmaceutical companies and liaising with BNM & Health Ministry to influence them to bring about positive changes in the Healthcare environment.
- Formulating strategies to make the underwriting function seamless & supporting business growth through high net-worth initiatives, Passerby guidelines, Predictive modelling, Next best offer, and financial underwriting for Bank customers and implementing Quality review programme.
Director Technical Services
Prudential Assurance Malaysia
08.2014 - 12.2016
- Overseeing a team of specialized Underwriters & Claim assessors.
- Responsible for developing Underwriting, Claim guidelines which would enable achievement of company goals and at the same time carry out effective risk management.
- Support processing of complex, medical underwriting and claim guidelines as per company philosophy and as per customer satisfaction.
- Liaise with reinsurers to successfully conclude key underwriting & claim cases.
- Carry out quality control programme.
- Played a key role in the development and execution of long-term strategic plans, ensuring alignment with organizational objectives.
- Led a team of technical specialists, providing guidance and mentorship for career growth and skill development.
Asst. Director New Business & Underwriting
Prudential Assurance Malaysia
06.2012 - 07.2014
- Managing a team of eighty-five underwriters and 87 admin staff looking after both individual and group business.
- Authorized to process cases up to a Sum Assured of up to 5 million RM with extra mortality authority of up to 450%
- Developed an Underwriting Road map which would provide necessary skill sets to the underwriters in terms of underwriting modules.
- Supporting Product development, Training and development for the underwriters as well as providing system support for the new business and implementing new regulations FSA and AML.Set aggressive targets for employees to drive company success and strengthen motivation.
- Maintained positive customer relations by addressing problems head-on and implementing successful corrective actions.
- Trained and mentored new employees on industry practices and business operations.
Head of Underwriting
AIA shared Services
11.2009 - 05.2012
- Managing the Life and PA Underwriting processes for both Singapore and Hong Kong AIA companies. Responsible for recruiting, Training, and developing underwriters, delivering services within the Turnaround time and with Quality.
- Assisted underwriting management teams with review of complex cases, staffing resource projections, process improvements and overall workload balance and management.
- Managing a department with a team of 80 Underwriters and Processors, driving work efficiency and with high-quality output.
- On the operational front responsible for adequate capacity planning, negotiating terms of statement of work, budget planning and monitoring.
- Established and checked coding procedures, monitored reports and updated internal file.
- Analyzed business processes to identify cost savings and operational efficiencies.
Asst. Manager to Asst. Vice President & Chief Underwriter
Tata- AIA Life Insurance Company
06.2003 - 09.2009
- Joined Tata-AIG as assistant manager, moving up the ladder from Team leader, Senior Underwriter, and technical head, being promoted three times in 5 years, reaching the level of Chief Underwriter.
- Drafting of Underwriting guidelines and amendments for medical and financial areas & responsible for managing the Group as well as re-underwriting cases.
- Member of the Underwriting Committee, Product Committee, Risk Committee, and product development committee providing critical underwriting inputs and successfully led the department through various Internal Audits, statutory audits and reinsurer audits getting satisfactory results.
- Part of the core group of the industry working on standardization of Critical Illness definitions.
- Developed loyal and highly satisfied customer base through proactive management of team customer service strategies.
- Improved customer satisfaction by addressing and resolving complaints promptly.
Medical Officer
BEST
11.2001 - 05.2003
- Established partnerships with community organizations to improve access to preventive healthcare services and enhance overall population health.
- Created customized care plans, working with hospital staff and families to assess and meet individual needs.
Clinical Practice
01.1994 - 05.2003
- Used clinical inquiry to improve clinical practice and service outcomes.
- Improved patient outcomes by implementing evidence-based treatment strategies in clinical practice.
- Identified and addressed areas of improvement in clinical practice, ensuring optimal patient outcomes.
Education
Associate Fellow in Industrial Health - Industrial Health
Central Labour Institute
Mumbai 04.2001 - 04.2000
Bachelor of Science - Medicine
LTM Medical College
Mumbai 04.2001 -
Correspondence Course - Data Science
MIT Schwarzman College of Computing
Online 04.2001 -
Skills
Languages
English
Hindi
Gujarati
References
Available upon request
Timeline
Head of Health
Reinsurance Group of America
02.2023 - Current
Director – Technical Services, Medical Business Management, Operational Excellence
Prudential Assurance Malaysia
01.2017 - 01.2023
Director Technical Services
Prudential Assurance Malaysia
08.2014 - 12.2016
Asst. Director New Business & Underwriting
Prudential Assurance Malaysia
06.2012 - 07.2014
Head of Underwriting
AIA shared Services
11.2009 - 05.2012
Asst. Manager to Asst. Vice President & Chief Underwriter
Tata- AIA Life Insurance Company
06.2003 - 09.2009
Medical Officer
BEST
11.2001 - 05.2003
Associate Fellow in Industrial Health - Industrial Health
Central Labour Institute
04.2001 - 04.2000
Bachelor of Science - Medicine
LTM Medical College
04.2001 -
Correspondence Course - Data Science
MIT Schwarzman College of Computing
04.2001 -
Clinical Practice
01.1994 - 05.2003
Similar Profiles
Nelia NyamurangaNelia Nyamuranga
Underwriting Administrative Assistant at Reinsurance Group of America, RGAUnderwriting Administrative Assistant at Reinsurance Group of America, RGA
RAVI PONAMGIRAVI PONAMGI
Senior Software Engineer at Reinsurance Group of America (RGA)Senior Software Engineer at Reinsurance Group of America (RGA)
Kgabo ThlakuKgabo Thlaku
1. Claims Assessor at Reinsurance Group Of America1. Claims Assessor at Reinsurance Group Of America