Area Sales Manager, Pune

SupportFinity™; Maharashtra; On-site; INR 600,000 - 1,200,000; Full time

Job summary

SupportFinity™ seeks a candidate for managing TPD sales activities in Maharashtra through collaboration with Brokers, Corporate Agents, and Banks. Responsibilities include strategizing sales targets, influencing partner banks, and ensuring a seamless customer experience.

The role involves extensive management of relationships with provider banks and designing innovative methods to deepen market penetration in the health insurance sector. Strong engagement and strategizing skills are essential for achieving ambitious targets.

Responsibilities

• Plan and strategize sales targets in sync with Partner Bank guidelines.
• Influence Partner Banks to align insurance revenue targets with ABHI’s targets.
• Identify customer segments and strategize the sales process.
• Run the profit center by managing spending, budgets, and compliance with IRDA.
• Coordinate with pan-India client acquisition teams to attract new customers.

Job description

Overview

Job Purpose: Managing TPD sales activities in the designated market through various channels like Brokers, Corporate Agents, and Banks to ensure that the business plan is met or exceeded. This will include regular engagement with the partners to deepen the relationship, driving the sales through team members to ensure that they meet their targets.

Job Context & Challenges

About the Health Insurance Industry –

Job Context & Major Challenges: About the Health Insurance Industry –

While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider remains a strong competitor. The business dynamics are such that the overall market on an annual basis is roughly 10,000 Crs with about 85% of the business renewing with the existing service provider.

About Aditya Birla Health Insurance – Aditya Birla Health Insurance Co. Limited was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016. ABHICL aims to expand the category to wider customer segments beyond traditional markets, and emphasizes a digital, paperless approach from onboarding to customer experience. ABHICL’s vision includes a comprehensive wellness program, chronic care management, and innovative health insurance offerings to grow the market.

Key Challenges for the role include gaining mindshare of partners in a multi-partner architecture, managing multiple relationships with differing expectations, and driving POS activation across products with a focus on monthly activation.

Key Result Areas and supporting actions are described below.

Key Result Areas

Supporting Actions

• Continue to integrate ABHI and Partner Bank systems and processes to increase relationship "stickiness"
• Provide top-of-the-line sales support to facilitate ease and comfort in selling ABHI products
• Provide superior customer experience
• Ensure continuous engagement at all levels of management of partner Banks with ABHI
• Monitor threats to relationships and strategize neutralization steps

Responsibilities

• Plan and strategize sales targets in sync with Partner Bank guidelines
• Influence Partner Banks to align insurance revenue targets with ABHI’s targets
• Plan product mix and identify training needs
• Identify customer segments and strategize the sales process
• Design R&R programs to motivate sales force
• Hold monthly strategy meetings with partner banks, line supervisors, and ABHI teams
• Develop and execute plans to achieve monthly targets

• Deliver premium targets by creating a sales strategy that balances objectives; tailor client segments and monitor progress daily
• Implement a Sales Management system to track ABHI sales force activities
• Provide feedback on insurance-related activities to partner banks’ line supervisors via MIS
• Conduct monthly reviews with regional heads of partner banks and undertake course-corrections as needed
• Run RM road shows and implement R&R programs for partner banks’ sales teams

• Design and implement cutting-edge sales management practices to meet expectations of the partner bank team
• Collaborate on training plans to improve understanding of customer needs and product advantages
• Collaborate on creation of sales incentives plans
• Collaborate on progression plans

• Run the profit center by managing spending, budgets, and compliance with IRDA, ABHI, and partner banks
• Plan and strategize spending with partner banks’ product teams
• Perform cost-benefit analyses and implement checks to control quality of business
• Conduct periodic reviews and audits; introduce strategic spending when required

• Manage renewals by coordinating with the partner banks’ renewal team and providing data to inform renewal premiums
• Motivate branch-level service executives through R&R programs to collect renewals
• Coordinate with actuarial teams to minimize surrenders and promote long-term loyalty
• Maintain focus on renewals across the sales team

• Grow business within partner banks to reach ABHI’s ambition in health insurance
• Coordinate with pan-India client acquisition teams to attract new customers
• Design and run R&R programs for acquisition teams and identify new opportunities
• Identify innovative methods to deepen market penetration

Note: Qualifications are not specified in the provided content.