Bancassurance Sales Manager

About Kotak Life Insurance

Kotak Life Insurance is now a fully owned subsidiary of Kotak Mahindra Bank Ltd after buying back its stake from Old Mutual, ending their joint venture. The company combines global expertise with local advantages to offer a wide array of innovative life insurance products, aiding customers in financial decisions at every life stage and ensuring financial independence. Currently, Kotak Life Insurance covers over 18 million lives and ranks among India's fastest-growing insurance firms.

Role Overview and Responsibilities

• Meet assigned sales goals such as new policies, revenue targets, case volume, and product distribution through partner bank branches.
• Increase life insurance penetration across designated bank branches.
• Prioritize acquisition of high-quality business and ensure policy persistency.
• Establish and maintain strong relationships with key contacts within partner banks.
• Serve as the primary liaison for all insurance-related interactions with partner banks.
• Align with the strategic priorities of partner banks, identifying and leveraging growth opportunities.
• Provide regular training to bank staff on insurance products, sales techniques, and compliance requirements.
• Collaborate closely with relationship managers and branch teams during client meetings to maximize closures.
• Drive greater activation and productivity at assigned branch locations.
• Plan and implement joint sales campaigns and customer engagement events with bank teams.
• Conduct routine branch visits to maintain structured engagement with frontline teams.
• Work cooperatively with bank personnel to generate high-quality leads and maintain a robust sales pipeline.
• Monitor lead conversion rates and implement corrective measures as needed.
• Utilize data analytics to identify additional cross-selling and upselling opportunities.
• Ensure compliance with all regulatory policies and company standards.
• Maintain high standards for sales quality and documentation accuracy.
• Promote ethical sales practices throughout partner bank teams.
• Regularly report on business outcomes, branch performance, and sales funnel metrics.
• Analyze sales trends and proactively address any performance gaps.
• Participate in periodic performance reviews alongside internal and external stakeholders.

Candidate Profile

• Minimum 2-8 years of experience in Life Insurance, Bancassurance, or BFSI sales.
• Proven expertise in managing bank channel partnerships, preferably with institutions like SIB, ESAF, Bandhan Bank, AU Bank, or comparable banks.
• Demonstrated success in consistently meeting or exceeding sales targets.
• Strong relationship management and stakeholder influence capabilities.
• Competence in sales strategy formulation and execution.
• Experience in training and coaching diverse teams.
• Excellent communication and negotiation skills.
• Ability to leverage data for informed sales decisions.
• Knowledge of Kerala's local geography and banking sector.
• Willingness to undertake frequent travel within assigned territories.

Educational Requirements

Candidate must hold a graduate degree.

Indicators of Success

• Establishment of trusted, enduring relationships with banking partners.
• High activation rates and sustained productivity at partner branches.
• Well-prepared, motivated bank frontline teams resulting from effective training initiatives.
• Consistent business growth while maintaining strong quality standards.