Deputy AM - Direct

PeopleStrong; Patna; On-site; INR 900,000 - 1,200,000; Full time

Benefits offered by this job

Health Insurance

Job summary

Aditya Birla Health Insurance Co. Limited seeks an Area Manager – Direct Sales to shape and execute the sales distribution strategy for the direct channel.

You will lead a field sales team, recruit and train advisors, and drive channel partnerships to achieve growth across the region. This role demands strong leadership, market insight, and the ability to design solutions for diverse customer segments while delivering sustained revenue and profitability for ABHICL.

Qualifications

• Graduate

Responsibilities

• Develop and execute the sales distribution strategy for the direct channel.
• Lead and train field sales teams and advisors to achieve targets.
• Drive channel partnerships to expand reach and revenue.

Skills

Graduate

Job description

Country India

Skills

Skill

Graduate

CERTIFICATION

Job Description

Basic Details: Fill the required information about business, unit, location, position, reports to position and date of updation of JD

Business

Health Insurance

Unit

Aditya Birla Health Insurance Company Ltd

Location

Poornata Position Number of the job

Reports to: Poornata Position Number

129148

Poornata Position Title of the job

Area Manager – Direct Sales

Reports to: Poornata Position Title

Head – Direct Channel

Function

Reports to: Function

Department

Reports to: Department

Designation of the Employee

Area Manager – Direct Sales

Designation of the Manager

Head – Direct Channel

Date of writing/updation of JD

1) Job Purpose: The purpose of the job is to develop and ensure execution of the sales distribution strategy for the allotted channel, ensure achievement of the given sales targets by ensuring that the team capacity is fulfilled and the team is adequately trained and hand-held to ensure achievement of desired productivity.

2) Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.

Team Size

Particulars

FY 18

FY 19

FY20

Direct

12

12

15

Topline (GWP)

Metric

Units

FY18B

FY19

FY20

GWP

Rs Cr

20

38

45

Business Ratios

Measure

FY18B

FY19

FY20

Claims Ratio

14%

17%

17%

Expense Ratio

108%

47%

28%

FLS Productivity

Channel

FY 18

FY 19

FY 20

Direct

1.5

1.65

1.8

Market Share

FY18

FY19

FY20

1.3%

3.2%

6.4%

3) Job Context & Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section

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 (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as ententions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

About the Aditya Birla Health Insurance –

Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016.

ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6 th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of “Health Insurance for All”, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer’s experience of our proposition is continuous and seamless.

ABHI’s unique offering to market includes proposition includes -

• A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy
• A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1
• ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.
• ABHICL’s vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.

Key Challenges for the role –

• With a new company – and lower product awareness – there is minimal base to receive references from and therefore number of in-house leads generated is much lesser.
• Competition with 5 existing SAHI companies and also with all other 53 insurance players, because RFB is marketed by all insurance companies (including non SAHI)
• Leads are expensive and therefore it is extremely important to maintain a high lead conversion ratio. It is also therefore also important to develop alternate sources of lead generation to optimize cost.
• The natural market is limited and team-members tend to find it extremely difficult to generate sales after exhausting natural market – leading to high attrition
• Manage attrition and ensure higher vintage via upskilling and proper career planning
• Upskill the recruited workforce and enable them to do concept selling as against hitherto habit of price based selling.
• Soft Insurance Market: Considering the soft insurance market in India, offering solutions to price sensitive clients may turn risky. Such clients may negotiate hard on the unique solution offered which eats away the cos profitability and may opt to place the business with other provider/s. It is extremely important to design and customize the right solution for the right set of clients catering to multiple income segments

4) Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)

Key Result Areas

Supporting Actions

Planning & developing monthly, quarterly & annual business plans & accordingly fixing the business strategy for specified region/s

• Developing of the monthly, quarterly & annual business plans & identification of short & long term focus areas
• Ensure timely communication and discussion on targets assigned
• Conduct periodic review of the plans to identify gaps and incorporate changes due to prevalent market conditions/business performance

Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability for the channel

• Understand market dynamics and offering of other providers
• Put in place strategies to tap market potential
• Ensure recruitment of advisors in the areas having unexploited potential
• Plan to build brand awareness for future businesses

Drive & deliver sales and profitability targets of the region to capture market share and deeper brand penetration.

• Plan people capacity for the region to meet the Topline targets
• Focus on creating pipeline of leads to increase number of touchpoints and therefore secure deeper market penetration
• Capture client visit to identify conversion ratio and publish the same along with incentives
• Conduct daily huddles leading to knowledge sharing and increased engagement
• Conduct periodic reviews and take corrective action where necessary
• Ensure tight control on cost aspects to drive better profitability