Bancassurance Sales Manager

About Kotak Life Insurance

Kotak Mahindra Life Insurance Company Ltd, a fully owned subsidiary of Kotak Mahindra Bank Ltd, has recently ended its joint venture with Old Mutual. Leveraging both international expertise and local market knowledge, the company offers innovative life insurance solutions to help customers make key financial decisions throughout their lives, ensuring financial independence. With over 18 million insured lives, Kotak Life Insurance is among the fastest expanding insurers in India.

Job Responsibilities

• Meet or exceed assigned sales targets in terms of new policies, revenue, case volume, and product diversification through partner bank branches.
• Boost penetration of life insurance products within designated bank branches with focus on acquiring high-quality business and maintaining persistency.
• Develop and maintain strong relationships with critical stakeholders in partner banks, acting as the main contact for all insurance-related concerns.
• Align strategies with bank priorities and explore opportunities for business growth.
• Conduct training sessions for bank employees on life insurance products, sales techniques, and compliance standards.
• Collaborate with relationship managers and branch teams in customer meetings to facilitate deal closures.
• Increase branch activation rates and improve output per branch through joint sales campaigns and customer engagement plans.
• Ensure consistent branch visits and structured engagement with frontline staff.
• Work with bank teams to cultivate leads, manage sales pipelines, track conversion ratios, and implement corrective measures.
• Utilize data analytics to spot cross-selling and upselling opportunities.
• Adhere strictly to regulatory requirements and company policies while maintaining high-quality sales documentation and promoting ethical selling practices.
• Report regularly on business outcomes, branch performance, and funnel status; analyze trends and take proactive steps to rectify shortfalls.
• Participate actively in periodic business reviews with both internal and external stakeholders.

Candidate Profile

• Extensive experience (2-8 years) in life insurance, bancassurance, or BFSI sales with a demonstrated history of managing bank channel partnerships, preferably with institutions like SIB, ESAF, Bandhan Bank, or AU.
• Proven success in achieving sales objectives.
• Expertise in relationship management, stakeholder influence, sales planning and execution, training, coaching, and strong communication and negotiation abilities.
• Strong analytical skills for data-driven sales management.
• Familiarity with Kerala’s local geography and banking environment.
• Willingness to travel frequently within designated areas.
• Educational qualification: Graduate.

Success Indicators

• Building trusted, lasting partnerships with bank stakeholders.
• High levels of branch activation accompanied by steady productivity.
• Thoroughly trained, motivated frontline bank teams.
• Consistent sustainable growth with maintained quality parameters.