Cluster Manager - Insurance Business Development at Aditya Birla Capital, Delhi

Overview

The role centers on driving insurance business growth via assigned relationship and channel partners within a designated zone, particularly focusing on encouraging these partners to motivate their customers to invest in Birla Sunlife Insurance products. This position demands managing both pre- and post-sales services for relationships and clients, alongside a dedicated support team. Success is measured not just by target achievement but also by consistent quarterly growth.

Challenges

• Handling market volatility linked to predominance of unit-linked insurance policies.
• Aligning with the HDFC Branch Banking open architecture, which may have differing priorities.
• Balancing procedural compliance with channel partner expectations.

Key Responsibilities

• Achieve premium and revenue targets contributing to overall company growth.
• Maintain frequent communication with multiple branch heads and map all key decision-makers, ensuring relevant information flow to regional heads.
• Implement and promote organizational recognition and rewards activities.
• Develop innovative branch activities to deepen customer reach.
• Ensure smooth execution of sales and related processes, facilitating training on any procedural or regulatory updates.
• Oversee sales calls, policy issuance, and complaint management to prevent operational delays.
• Manage relationships across all levels to effectively address bank customers' insurance needs, ensuring knowledge of both insurance and banking products.
• Identify and develop new business opportunities within the allocated territory to maximize output and revenue.
• Maintain a focus on achieving 40% activation with two cases active at an average ticket size of 50,000 INR.
• Ensure product sales mix aligns with company targets: 50% traditional products, 40% ULIPs, and 10% term insurance.
• Contribute ideas for product innovations and sales approaches based on thorough channel understanding.
• Coordinate training requirements for internal teams and channel partners.
• Conduct regular reviews and scrutiny of business to offer actionable insights to supervisors.
• Engage customers post-sale through welcome calls and ensure persistency targets by resolving queries promptly to support timely renewals.

Additional Information

There is a high dependence on alignment with HDFC's banking model and the role requires effectively navigating open architecture systems. Persistency and renewal adherence per company policy are critical success factors.