Business Development Manager (BDM) - Agency Partner Channel (APC)

r3 Consultant; Aurangabad; On-site; INR 6,00,000 - 9,00,000; Full time

Job summary

A leading insurance company in Aurangabad is seeking a Business Development Manager to recruit and manage a team to build a distribution enterprise for insurance products. The ideal candidate should have 4-6 years of overall experience, including 2 years in sales and demonstrated skills in leadership and relationship building. Responsibilities involve exceeding recruitment targets, developing agency leaders, and ensuring compliance with regulations. This role provides an opportunity to contribute significantly to agency growth.

Qualifications

• Overall experience of 4-6 years with a preference for man-management experience.
• Minimum 2 years of sales experience.

Responsibilities

• Exceed targets for new agency leaders and agent enrollments.
• Recruit leaders who will, in turn, recruit agents.
• Enhance recruitment quality by developing successful leaders.
• Conduct weekly performance review and planning (PRP) for the team.

Skills

Selling Skills

Relationship Building skills

Coaching and Developing Team

Result Orientation

Resilience

Discipline

Demonstrating Adaptability

Education

Graduation in any discipline (MBA preferred)

Job description

Job Overview

• Title: Business Development Manager (BDM) - Agency Partner Channel (APC)
• Band: 4A
• Reporting to: Branch Manager, Agency
• Focus: Recruiting and managing a team of leaders and agents to build a distribution enterprise for MAX Life Insurance Pvt. Ltd.

Minimum Education

Graduation in any discipline (MBA preferred)

Experience

Overall experience: 4-6 years

Preference for candidates with man-management experience

Minimum 2 Years Of Sales Experience

Skills/Abilities

• Selling Skills
• Relationship Building skills
• Coaching and Developing Team
• Result Orientation
• Resilience
• Discipline
• Demonstrating Adaptability

Key Responsibilities

Recruitment

• Exceed targets for new agency leaders and agent enrollments.
• Recruit leaders who will, in turn, recruit agents.
• Focus on quality recruitment through Agency Leaders and Associates.
• Identify, interview, and select new leaders.

Development & Enablement

• Enhance recruitment quality by developing successful leaders.
• Create a support platform for Financial Executives, Agency Associates, and Agents.
• Enable and develop the team.
• Handhold, develop, and supervise Financial Executives, Agency Associates, and Agents.

Business Growth

• Enhance AFYP (Annualized First Year Premium) and the number of cases by the unit.
• Focus on potential EC (Executive Club), MDRT (Million Dollar Round Table), and CEO council agents.
• Execute plans for agency growth.

Compliance & Monitoring

• Ensure compliance with IRDA (Insurance Regulatory and Development Authority) guidelines.
• Timely contract of agents and agency associates.
• Monitor IRDA guidelines impacting the AAP channel at the regional level.
• Ensure adherence to sales and service standards.

Performance Management

• Conduct weekly performance review and planning (PRP) for the team.
• Ensure team retention by formulating development plans and addressing training needs.

Market Awareness

• Track competition, including new strategies and compensation models.

Measures of Success

• Building a chain of successful leaders (Financial Executives)
• Recruitment numbers (contracted agents)
• Add-on of AFYP & number of cases in the team
• Add-on of number of new agency associates
• Case Rate & Case Size
• Agent satisfaction survey
• Accuracy and timeliness of information

Other Responsibilities

• HO (Head Office) coordination
• Sales promotion activities
• Assist in overall running of the office