Private Wealth Manager-Axis-Udupi

PeopleStrong

Udupi district

On-site

INR 600,000 - 900,000

Full time

14 days+

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Job summary

ABSLI seeks a focused sales professional to drive bancassurance across AXIS Bank relationships and premium client portfolios. The role requires in-depth knowledge of insurance products and wealth management for HNI clients, with a focus on cross-selling through bank channels.

You will collaborate with bank partners to deliver the right product mix, train RM teams, and pursue growth targets while ensuring compliance and superior customer service across PAN India operations.

Qualifications

Bancassurance experience with bank-insurance collaborations.
Experience in advising HNI clientele and cross-selling financial products.

Responsibilities

Work with AXIS Bank Burgundy Relationship Managers to offer a bouquet of ABSLI products.
Provide sound financial, insurance and wealth-management services to protect client assets and grow portfolios.
Train RMs on ABSLI products and create strong product knowledge within bank staff.
Identify new business opportunities within the area and improve visibility and branding.

Skills

Bancassurance Sales

Under Graduate

Education

Under Graduate

Job description

Country India

Skills

Skill

Bancassurance Sales

Under Graduate

CERTIFICATION

Job Description

Job Title

Function

Department

AXIS Bank Relationship

Reporting To

(Title)

Circle Head – AXIS

Superior’s Superior

(Title)

Zonal Head – AXIS

Unit

Location

PAN India

Business

Date

1 st March 2024

1) Job Purpose

Axis Bank’s affluent business offers a range of financial investment products and provides customised solutions to create and manage the wealth of their niche segment clients, who are NRI, HNW[YP1] and Ultra HNW individuals, groups and establishments. Hence it requires higher order knowledge of the financial industry and other financial products.

2) Dimensions

What are the areas (in quantitative terms) the job has an impact on?

Dimension

Remarks

Manpower

Individual Contribution role

Retail

(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?

Job Context:

Bancassurance is the insurance distribution model wherein the bank allows an insurance company to sell its products to the bank’s client base. ABSLI tied up with AXIS Bank in March 2024 to sell its insurance products through the Branch Banking.

Open Architecture model empowers the customers now to select their Life insurance plans from more than one insurer as per their choice at competitive prices. It also lowers chances of Mis selling, with the intervention of multiple regulators like Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (IRDAI).

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4) Principal Accountabilities

Accountability

Supporting Actions

Business Targets – To achieve Business Targets on focused Business parameters like premium, SP/branch activisation, product mix and Persistency thereby contributing to the overall Business Growth and profitability.

Work closely with AXIS Bank Burgundy Relationship Managers to provide a bouquet of products and investments to their HNI and Ultra HNI client base.
Provide sound financial, insurance and wealth-management services to protect client assets and grow the net worth of their respective portfolios.
Ensure quality of business and persistence.
Ensure to increase SP Activisation and selling of greater NOPs through the Team of FLS for greater distribution of ABSLI products
Ensure selling of right Product Mix as defined by the organisation to achieve overall business growth and profits.
Identify and implement new business opportunities within the allocated area to enhance penetration
Implement activities / programs designed at the organisational level to build great visibility, promote branding, and strengthen our relationship with the bank.
Train and appraise the RM’s on ABSLI products thereby creating a mind space and easy recall for them.
Ensure right method of business acquisition and absolutely 0 % mis selling

Pre and Post-Sales Support and Service: To provide efficient and best in class, competitive products and services to both the Bank partner and customers

Provide pre and post-sales support.
Regularly review any customer complaints, plug gaps & ensure reduction in complaints
Build effective relationship with the bank partner and become their first preferred insurer
Create visibility and obtain credibility amongst the RMs, by presenting a strong knowledge base of not only the Life insurance products but also all other financial products and offerings.
Plan and achieve business targets in terms of premium, RM activation and market share
Establish efficient methods to respond to customer queries and maintain persistency levels.

Partner relationship Management: To build and strengthen the relationship with the partner bank and become their preferred partner

To be equipped with Bank’s product ranges and their key features along with the ABSLI products
Pay regular visits to bank branches and meet bank partners.
Design differential strategies to gain mindshare and product mix basis the potential of the branch
Help the Bank branches to increase their overall LI pie
Liaison with our Regional and Zonal Training Team and ensure periodic product training and branding within the branch for bank staff
Design and launch various contests and appreciation platforms for the bank staff to achieve higher engagement

Focus on Business Quality and Profitability – Achieve Business profitability by focusing on renewals, quality of business and managing costs

Ensure achievement of profitability and persistency targets for the relationship in the designated zones
Manage expenses within allowable expense gap
Plan and manage the renewals and ensure adequate focus is maintained by the sales Team on persistency
Ensure Business Leakage is within allowable limits.
Focus and Monitor Product Mix within the Circle, to achieve Channel Targets

5) Job Purpose of Direct Reports

To represent ABSLI at the designated branches and is responsible for sales performance, acquisition of new business and relationship management in the assigned area / branches.

6) Relationships (If Applicable)

Internal

Frequency

Nature

Retail Branch Banking Team

Training Team

Operations

Daily

As and when required

Daily

Regularly

Discuss potential customer base and provide support wherever required