Regional Sales Manager- HDFC Prime Bangalore

Aditya Birla Sun Life Insurance

Karnataka

On-site

INR 2,500,000 - 4,500,000

Full time

14 days+

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Job summary

Birla Sun Life Insurance Company Ltd is seeking a Regional/Area Sales Manager – HDFC Relationship to drive business in the assigned region. You will lead a team of Sales Managers, nurture the HDFC relationship, and ensure smooth execution of sales and service processes.

You will coordinate with bank leadership to achieve annual premium targets and maintain high standards of customer service. The role demands strong relationship management, strategic planning, and disciplined performance tracking

Qualifications

Drive business and achieve targets through allocated region/area.
Nurture and maintain the relationship with the channel partner for incremental development of the business.
Manage a team of Sales Managers to ensure smooth business processes and execution.

Responsibilities

Ensure achievement of Targets (Premium & Revenue) to contribute to overall growth.
Maintain continuous interaction with channel partners as per RH/ZH grid.
Map key decision makers and build review mechanisms at defined intervals.
Recruit, develop and train team members to maximize productivity and results.
Control expenses and maintain an expense tracker to optimize costs.
Ensure the right people are in place to maximize productivity and retention.

Skills

Channel partner management

Sales leadership

Target achievement

Relationship management

Job description

Job Title

Regional/Area Sales Manager – HDFC Relationship ( All Verticals)

Function

Sales

Department

HDFC Relationship

Reporting To

(Title)

Vertical Head HDFC Relationship

Superior ’s Superior

(Title)

Relationship Head HDFC

Unit

Birla Sun Life Insurance Company Ltd

Location

Zone

Business

Life Insurance

Date

June 2017

Job Purpose

Drive business and achieve targets through allocated region/area. Nurture and maintain the relationship with the channel partner for the incremental development of the business contributing by the relation and help/supervise them for the smooth function of the business process flow. Manage a team of Sales Managers to maintain the proper process of doing valued business for the organisation.

Dimensions

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

Dimension

Remarks

Manpower (Nos.)

4-5 depending on the relationship

Indirect – could range from 20 to 25

Business Impact

Xxx

Target - (Individual )

Annualized Premium (AVG)– 5 to 10 Cr

Complete accountability of the Sales Target of the Vertical which has a direct impact on the Relationship’s top-line target.

Customer Complaints

0 Customer Complaints

At HDFC Customer Complaints are critical and hence every vertical head will look personally

Persistency

80% Premium Persistency

80% Policy Persistency

Drive 13 month Rolling Premium Persistency

Job Context & Major Challenges (What are the specific aspects of the job that provide a challenge to the jobholder in the Unit/Zone?

Key Challenges for the role –

High dependency on HDFC Bank relationships who may have their own priorities so alignment is the key.
Balancing between the process requirement and expectations of the Channel partners

Principal Accountabilities

Supporting Actions

Ensure achievement of Targets (Premium & Revenue) in order to contribute in overall growth of the company

Continuous interaction ( as per RH / ZH's defined grid ) with the channel partners
Mapping all the key decision makers & build review mechanism per mapping basis decided Intervals
Aggressively downloading all the RnR activities to be run by BSLI

Ensure smooth function of the sales and other processes in order to maximise business potential.

Communicating any product changes, process change or change in any rules and regulations (internal / IRDA) with the help of different training module.
Supporting in the actual sales and service aspects including sales calls, issuance and complaint handling

Maintain the expense gap in order to reduce the cost

Understanding the need of the expense
Taking commitment from the channel before any spending or allocation of the budget
Maintain a SM wise expense tracker

Ensure relevant people in the right place right time in order to maximise the productivity

People Retention @ 90% levels to be maintained
Understanding the strength of the resource and depending on that allocating job responsibility
Evaluating the opportunity of each business unit and allocating targets as per that
Recruit, develop and train team members to maximize productivity
Position gaps / Vacancy to be filled within a TAT of T+15 Days

Ensure the right method of business acquisition in order get the profitable mix for the organisation

Scrutinise the business on regular basis
Maintain quality checks. Monitor Customer Complaints and adhere to defined resolution TATs - T + 72 Hrs
Take necessary documented actions against defaulting employees on quality / conduct parameters

Ensure Persistency targets ( from 2nd year ) as per the company norms so that renewals take place on time

Regular MIS flow and Communication with Channel Partners on T-30 Basis ( T Being the renewal date )
Resolve queries as and when required to ensure that renewal takes place on time
Fortnightly renewal status review mechanism to be followed internally

Building new business opportunities within the allocated area/relationships in order to maximise the productivity / Top Line

Identify innovative methods working with the relationship to enhance penetration of the database
SM Review Mechanism to have 40% Activation with 2 Case / Active @ 50K ATS to be focused
Ensure Product Mix - Trad 50% : ULIP 40% : Term 10%
15% Business More than TATA Provide inputs for new products & Sales Pitch, basis an in-depth understanding of Channel needs
Identify training needs for the in-house and channel partner teams
Regular Product Updates and Comparative Analysis should be shared with Bank Leadership / Hierarchy

Job Purpose of Direct Reports

Sales Manager / Senior Sales Manager: To derive Insurance Business from assigned Relationship/Channel partner in an area or zone, to convince the relationship so they can convince their customer to invest in Birla Sunlife Insurance. To ensure all the pre and post sales support and services to the relationship as well as to the clients along with the team dedicated to the relationship. Ensure not only achieving the target but also to make sure there is a consistent growth in the business every quarter.

Relationships (If Applicable)

Internal Frequency Nature

TPD Support Team – Training Manager – HR Dept – Customer Service Team – Client Service Team – Daily – Weekly twice – Weekly – Daily – Daily – Process, login and issuance related – Training related – Recruitment and other issue – Follow up regarding service issue – Follow up regarding issuance

External Frequency Nature