Assistant Sales Manager - TPD Sales with HDFC Bank Partnership, Ludhiana

Role Objective

The primary objective is to accomplish sales targets within the specified territory by leveraging the partnership with HDFC Bank. This involves effective coordination both internally across teams and externally with partners to ensure desired outcomes.

Background & Challenges

With evolving medical technologies, changing lifestyles, and shifting socio-economic conditions in India, organizations increasingly face complexities in meeting the requirements of a diverse workforce. More Indian companies view group benefits as a strategic tool to manage employee expectations and enhance talent acquisition and retention. Understanding client needs deeply and designing customized solutions is vital to fulfill their goals while generating a profitable revenue stream for the company.

Distribution & Partner Relations

This role focuses on identifying and strengthening relationships with new and existing partner entities to broaden market reach. Enhancing partner engagement ensures increased awareness and market share swiftly.

Key Challenges

• Approximately 90% of market deals emanate through partners, making it challenging to negotiate favorable payout structures due to aggressive strategies by competitors that favor rapid approvals and remittances.
• Partners often conduct localized off-site sessions for their teams, giving them a competitive advantage that must be acknowledged and managed effectively.

Primary Responsibilities

• Develop and build a capable team to fully exploit channel opportunities by collaborating with training teams to keep the sales force updated on products and competitor activities.
• Cultivate strong connections with partner leadership and mapped zonal managers to reinforce centralized relationships.
• Meet Gross Written Premium (GWP) targets in collaboration with HDFC Bank across the assigned territory by driving sales through the partner bank channel.
• Train, nurture, and motivate partner sales and service teams to empower them in customer acquisition and business growth.
• Continuously monitor and analyze competitor product offerings and distribution strategies, reporting relevant insights to senior management.