Life & Annuity Insurance - TPA Strategy & Implementation Lead

Life & Annuity Insurance – TPA Strategy & Implementations Lead

The TPA Strategy & Implementations – Vice President II, will be responsible for developing and executing strategies for EXL’s TPA Insurance services. This role will broadly have two main responsibilities:

1. TPA Strategy Officer
2. TPA Implementations Lead

This role will be responsible for leading the strategic direction of the organization and aligning business initiatives with the company's long-term goals. This position will work closely with the Head of Operations, Platforms and Client/ Account Management executive leadership team, and key stakeholders to drive growth, operational efficiency, market expansion, innovation and standardization across our TPA business.

The role combines strategic planning, market analysis, corporate development, and leadership to ensure the TPA’s business model evolves to meet changing industry dynamics, regulatory requirements, and customer needs. The CSO will play a pivotal role in positioning the company for long-term success and profitability.

Key Responsibilities:

Strategic Planning & Execution

• Lead the development, implementation, and execution of the company’s strategic plan, ensuring alignment with organizational goals and vision, this includes recommending and executing changes required both on Platforms as well as Operational Services.
• Support the strategic roadmap for growth in life insurance, annuities, and other related products, focusing on both organic and inorganic growth opportunities.
• Conduct SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify potential risks and strategic opportunities within the marketplace.

Operational Strategy and Execution

• Lead the implementation of new processes, systems, and initiatives that drive operational efficiency across life insurance and annuity operations (e.g., policy administration, claims processing, underwriting, and customer service).
• Oversee the design and execution of operational strategies to ensure the smooth transition/ conversion of client accounts and product offerings from implementation to ongoing servicing.
• Collaborate with senior leadership to define operational goals, benchmarks, and best practices that align with the company’s vision and growth strategy.

2. Client Onboarding and Implementation

• Manage the end-to-end client onboarding process for new life insurance and annuity programs, ensuring smooth transitions from pre-sales, solutioning, pricing, contract signing through to operational setup.
• Partner with account management, sales, and IT teams to ensure operational readiness for new clients, products, and services.
• Monitor progress and ensure all client requirements and SLAs are met within specified timelines and budget.

Market & Competitive Analysis

• Conduct comprehensive market research to identify industry trends, emerging technologies, and competitive threats that may impact the business.
• Evaluate and assess the competitive landscape within the life and annuity TPA space to ensure the organization stays ahead of market shifts and customer demands.
• Drive insight into customer needs, preferences, and behaviors to inform the company’s product offerings and service innovations.

Partnerships & Vendor Management

• Identify strategic partnerships and acquisitions to expand the company’s product offerings and service capabilities in the life and annuity markets.
• Lead negotiations and relationship-building efforts with key external partners, including insurance carriers, brokers, technology providers, and industry influencers.
• Guide the development of strategic alliances and joint ventures that enhance business growth and create synergies.

Innovation & Digital Transformation

• Spearhead initiatives to implement technology and digital solutions that enhance the customer experience, improve operational efficiency, and optimize back-office functions.
• Promote a culture of innovation within the company, ensuring that the organization is prepared to adapt to industry disruptions and evolving regulatory environments.
• Evaluate opportunities for digital and data-driven initiatives that improve underwriting, claims processing, and customer service.

Operational Excellence & Efficiency

• Work with operational leaders to streamline processes, reduce costs, and improve efficiency across all aspects of the TPA business.
• Analyze existing operational workflows, identify bottlenecks or inefficiencies, and implement process improvements to streamline operations, reduce costs, improve service delivery and insurance carriers, policyholders, and broker experience.
• Work with IT and other teams to evaluate, design, and implement automation tools and systems that improve efficiency and reduce manual tasks.
• Promote a customer-centric culture while ensuring adherence to regulatory compliance standards in the administration of life and annuity products.

Financial Oversight & Performance Metrics

• Partner with the Platform, Operations and Account Management leaders to set financial goals and performance metrics that align with strategic objectives and drive profitability.
• Ensure that growth strategies are supported by financial forecasts, investment plans, and cost-benefit analyses.
• Monitor key performance indicators (KPIs) across business units and adjust strategies as needed to achieve desired outcomes.

Leadership & Team Development

• Build, lead, and mentor a high-performing strategy team capable of executing on the company's vision.
• Collaborate with other senior leaders to drive cross-functional initiatives and align business units toward common strategic goals.
• Champion a culture of continuous improvement and innovation, ensuring that talent across the organization is motivated, engaged, and aligned with the company’s mission.

Regulatory & Compliance Oversight

• Stay informed of evolving regulatory requirements in the life insurance and annuity sectors and ensure the organization remains compliant.
• Develop and enforce strategies for navigating regulatory challenges, particularly as they relate to third-party administration, data security, and policyholder protections.
• Ensure all operations are compliant with industry regulations, including state and federal insurance regulations, and that all data management and privacy laws (e.g., HIPAA, GDPR) are adhered to.
• Partner with legal and compliance teams to assess operational risks and implement necessary risk mitigation strategies during implementation.

Cross-Functional Collaboration and Leadership

• Lead and coordinate across multiple departments (e.g., IT, legal, compliance, actuarial, finance, customer service) to ensure successful implementation of operational projects.
• Ensure all stakeholders are aligned on timelines, deliverables, and resource allocation for operational projects.
• Establish a culture of collaboration and continuous improvement across operations teams.

5. Change Management

• Lead the change management process during operational shifts, product launches, or system upgrades, ensuring that teams are well-prepared for changes and that transitions are as smooth as possible.
• Develop and communicate clear plans for change, manage stakeholder expectations, and ensure proper training and support is provided to teams during transitions.

Required Skills and Experience:

• Industry Expertise: Deep understanding of life insurance, annuities, and Third-Party Administration (TPA) operations, including policy administration, claims management, and underwriting processes.
• Leadership: Strong leadership skills with a proven ability to manage cross-functional teams, foster collaboration, and drive results.
• Operational Excellence: Experience in process improvement methodologies (Lean, Six Sigma, etc.) to drive efficiency, quality, and customer satisfaction in operations.
• Project Management: Strong project management skills with the ability to manage complex implementations, multitask, and meet deadlines.
• Client-Focused: Ability to translate client needs into operational processes that ensure high-quality service delivery.
• Problem Solving: Strong analytical and problem-solving skills to address complex operational challenges.
• Communication: Excellent verbal and written communication skills, with the ability to effectively communicate across all levels of the organization and to clients.

Qualifications:

• Effectively and proactively managed client’s expectations, built deep client partnerships, and developed excellent communication and executive presence to connect at all levels in the organization.
• Experience in managing & growing long term complex multimillion dollar accounts; services or solutions
• Broad functional knowledge within the sector and the ability to connect with a variety of executive level stakeholders on their specific pain-points; build meaningful internal and external relationships.
• Strategically minded and able to create a consultative and solution-minded sales environment.
• A forward & innovative thinker constantly focused on shaping the organization to meet and anticipate both near and long-term business issues
• Demonstrated ability to work in a multicultural global environment
• Experience in a similar vertical / domain; having managed relationship at CXO level
• Proven track record of success meeting revenue goals and managing multiple clients
• High level of proficiency with Microsoft Excel, Word and PowerPoint Strong verbal and written communication skills with keen
• Excellent organizational and prioritization skills
• Ability to think strategically, creatively, and analytically
• Exceptional work ethic, ability to perform under pressure, meet deadlines Ability to build effective working relationships with others inside and outside the organization

Education & Skills:

• Bachelor’s degree from an accredited institution, graduate degree a plus.
• Preferably MBA
• 10-12 years of Insurance L&A experience in client services, account management and/or relationship management required