Regional Sales Manager - HDFC Prime Bangalore

Overview

The Regional Sales Manager will lead sales initiatives across allocated territories, focused on nurturing and expanding relationships with HDFC Bank channel partners across all verticals. This role involves managing a team of sales managers to ensure effective business processes and robust revenue growth within the life insurance segment of Birla Sun Life Insurance Company Ltd.

Key Responsibilities

• Drive business targets and growth by effectively managing and supporting allocated regions and sales teams.
• Engage continuously with channel partners according to established schedules to maintain strong, productive relationships and map key decision-makers for systematic reviews.
• Implement and oversee reward and recognition activities to motivate the team and partners.
• Ensure seamless sales and operational processes by communicating product, process, and regulatory changes through training and support.
• Control expenses by understanding budget needs, securing commitments before spending, and maintaining expense tracking at the sales manager level.
• Optimize human resources by allocating responsibilities aligned with strengths, maintaining at least 90% retention, and quickly filling vacancies within 15 days.
• Ensure business acquisition practices yield profitable product mixes while maintaining high-quality standards including monitoring customer complaints with strict turnaround times and taking disciplined action against quality or conduct issues.
• Meet persistency goals with regular monitoring and communication to ensure business renewals occur timely, using MIS reports and review mechanisms.
• Identify and implement innovative strategies to enhance market penetration through bank relationships; focus on activating at least 40% of sales managers with a target of two cases per active manager at a 50,000 average ticket size.
• Maintain product sales mix of 50% traditional, 40% ULIP, and 10% term insurance, with 15% business exceeding Tata benchmarks.
• Support the development of new products and sales pitches based on thorough analysis of channel partner needs and product premium trends.
• Assess training requirements for both internal teams and channel partners, delivering up-to-date product knowledge and competitive analyses to senior bank leadership.

Job Scope and Challenges

• Manages a team of 4-5 directly reporting sales managers and indirectly influences 20-25 associates.
• Annualized premium targets range between 5 to 10 crore INR, fully accountable for sales vertical targets impacting top-line outcomes.
• Zero tolerance for customer complaints, emphasizing prompt resolution and adherence to strict service standards.
• Maintaining 80% premium and policy persistency rates through diligent follow-ups and quality controls.
• Main challenges include aligning with HDFC Bank’s internal priorities, balancing process compliance with partner expectations, and ensuring smooth operational flow.

Reporting and Relationships

• Reports directly to the Vertical Head of HDFC Relationship and indirectly to the Relationship Head of HDFC.
• Coordinates internally with support teams including TPD, Training, HR, Customer and Client Service teams with daily to weekly interactions.
• Engages externally with bancassurance partners and clients on a daily basis for business development and service issues.

Direct Report Role Purpose

Sales Managers and Senior Sales Managers are tasked with generating insurance business through assigned channel partners, ensuring exemplary pre- and post-sales service, and consistently driving quarterly growth beyond target achievements.

Other Details

• Part of the Life Insurance business unit under Birla Sun Life Insurance Company Ltd.
• Location: Karnataka, India.