Rushabh Gularekar

Transforming Banking Operations in the HAP Health Retail Product Phase at ICICI Lombard

1. Collection & Receipting Automation
• Designed and led end-to-end receipting system overhaul, aligning with cross-functional product objectives and compliance needs.
• Authored 50+ user stories covering receipt creation, acceptance, alteration, and deposit management across digital platforms.
• Ensured real-time partner payment tracking and reconciliation through integration with UPI, PG, and other collection channels.

2. Payments – Refund & Claims Disbursement Automation
• Built and deployed an automated refund and claims payment system, including Penny Refund validation and instant disbursement logic.
• Reduced refund processing TAT by 30% by automating workflows and integrating banking validations to minimize errors.
• Monitored refund partner performance metrics and managed the full lifecycle of payment flows and disbursement processes.

3. Money-to-Policy (M2P) Reconciliation
• Developed a scalable M2P reconciliation framework to handle INR 25,000 crore in expected annual transactions.
• Ensured seamless policy tagging for advance, combo, and regular payments using logic-based mapping across customer journeys.
• Collaborated with internal finance, underwriting, and operations teams to improve reconciliation SLAs and customer experience.

4. API Integration & Fintech Collaboration
• Spearheaded API-based integration between legacy and new core systems, enhancing interoperability across payment and collection ecosystems.
• Worked closely with Fintech vendors and internal IT to enable real-time banking, refund status, and MIS reporting APIs.
• Established data mapping, error handling, and audit frameworks to comply with financial regulations and security norms.

Achievements

• Successfully reduced manual efforts in refund processing by 30%, leading to significant operational efficiency
• Awarded Best Debutant across the vertical for exceptional performance and highest impact among all new joiners
• Enhanced efficiency across the banking module by eliminating a stage, reducing the payment cycle by approx. 26%, rectifying critical audit points, and saving 12 manpower across the entire module

• Conducted market analysis and customer research for Thermo Fisher’s PGNAA-based solution, crafting strategic briefs and identifying opportunities across 10+ Coal Washeries and 7+ competing technologies.
• Proposed a data-backed implementation strategy that enhanced operational efficiency, improving blending decisions and reducing coke consumption by up to 0.6kg/ton.

• Led a 20+ member team to deliver electrical installations on time, ensuring safety compliance and optimal resource use.
• Streamlined workflows and negotiated with 15+ vendors, reducing installation time by 20% and driving significant cost savings.