Area Manager - Third Party Distribution - Aurangabad

Job Overview

This role is responsible for generating insurance business from designated relationship and channel partners within a specified geographical area or zone. The primary focus is to persuade partners to encourage their customers to invest in Birla Sunlife Insurance products. This position also requires delivering comprehensive pre-sale and post-sale support services to both the partners and their customers with the help of a dedicated team. Achieving targets and ensuring consistent quarterly business growth are key objectives.

Challenges

• Managing market fluctuations as Birla Sunlife Insurance mainly offers unit-linked policies.
• Dependence on the HDFC Branch Banking Model operating in an Open Architecture system, which may prioritize differently, necessitating alignment.
• Balancing procedural requirements with the expectations of channel partners.

Primary Responsibilities

• Meet premium and revenue targets to contribute to the company's overall growth via continuous interaction with multiple bank branch heads and mapping key decision makers.
• Leverage organizational RnR (Recognition and Reward) activities and develop creative branch initiatives to boost customer penetration.
• Ensure seamless execution of sales and related processes by effectively communicating rule or process changes through training, facilitating sales calls, policy issuance, and handling complaints without hindrance.
• Manage relationships within the Open Architecture by understanding both insurance and banking products thoroughly to cater to customer needs and achieve desired outcomes.
• Explore new business opportunities in the assigned area by innovating with relationship partners and adhering to targets such as 40% activation with 2 cases active at 50K average ticket size.
• Maintain a product mix focused on 50% traditional, 40% unit-linked insurance plans (ULIPs), and 10% term insurance, with 15% business volume exceeding the Tata benchmark.
• Provide insights on new products and sales strategies based on a deep understanding of channel partner requirements, and identify training needs for internal and partner teams.
• Regularly scrutinize business performance, report relevant data, and engage customers via welcome calls to foster profitable business acquisition and renewals.
• Achieve persistency targets aligned with company standards to ensure renewals.