Area Sales Manager - TPD at Aditya Birla Capital

Overview

This role is responsible for managing TPD (Total Permanent Disability) sales activities within the assigned market through multiple channels, including brokers, corporate agents, and banks. The objective is to meet or surpass the business plan by nurturing strong relationships with partners and driving sales performance through the team.

Company and Business Context

Aditya Birla Health Insurance, a unit of Aditya Birla Capital, operates in a competitive health insurance market alongside multiple private and nationalized players. The yearly market size is approximately Rs 10,000 Crores, with firm customer retention resulting in around Rs 1,500 Crores of fresh business opportunity annually. The sector is characterized by intense competition and demand for tailored products catering to SMEs, startups, and the evolving Indian healthcare landscape.

Aditya Birla Health Insurance stands out with its unique proposition "Health Insurance for All," emphasizing a comprehensive wellness program and chronic care management for lifestyle diseases like diabetes, asthma, and hypertension. The company leverages digital processes for seamless customer experiences.

Challenges

• Securing greater partner mindshare in a multi-partner market with revenue sharing.
• Handling diverse channel expectations and customer segments simultaneously.
• Ensuring consistent point-of-sale activation amidst numerous product offerings with low ticket sizes.

Key Responsibilities

• Drive TPD sales through continuous engagement with brokers and intermediaries.
• Deliver timely quote requests and track business volume growth, collaborating with stakeholders to achieve targets.
• Foster partner relationships by understanding market dynamics and addressing specific partner needs to improve conversion rates.
• Maintain an updated sales pipeline to meet business objectives.
• Manage the overall P&L for the portfolio, coordinating with product teams to optimize client retention and conversion.
• Motivate and communicate with the sales force regarding incentives and progression plans to maximize productivity and retention.
• Improve renewal persistency through tailored client solutions and strong relationship-building with stakeholders.
• Recruit, coach, and develop a skilled sales team dedicated to channel sales excellence.

Team and Reporting

The role oversees a direct team typically consisting of 10 members. Direct reports include Sales Managers responsible for partner engagement at branch levels to activate and meet sales targets within their territories.

Business Metrics

• Team Size: 10 (FY18 - FY20)
• Fresh Gross Written Premium (GWP): Rs 17Mn (FY18) rising to Rs 50Mn (FY20)
• Field Sales Productivity: Rs 2.0 Lakhs/month (FY18) to Rs 2.5 Lakhs/month (FY20)
• Claims Ratio: 41% (FY18) to 52% (FY20)
• Expense Ratio: 324% (FY18) decreasing to 86% (FY20)
• Combined Ratio: 365% (FY18) down to 138% (FY20)

Direct Report Role Purpose

Sales Managers engage partners at branch levels, ensuring support and activation to reach sales goals, coordinating internally and externally to deliver results.

Sign-off

Jobholder and Manager signatures are required to formalize this job description for organizational records.