RSM Group Sales

Aditya Birla Health Insurance Company Limited

Karnataka

On-site

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

Full time

8 hours ago

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Job summary

Aditya Birla Health Insurance Co. Limited (ABHICL) in Mumbai is seeking a Regional Sales Manager – Large Bank to lead channel strategy with Bank partners and manage relationships.

You will drive sales through partner banks, engage stakeholders, maintain a strong pipeline and ensure revenue targets are met across large clients, while managing P&L for the zone.

Qualifications

Proven ability to build and manage bank channel relationships.
Experience in channel sales and partnership management.
Strong communication and negotiation skills.

Responsibilities

Driving sales via Various channels of Partner Bank
Partner engagement and relationship management with banks
Maintaining and updating sales pipeline to meet targets
Managing overall P&L for the zone and ensuring profitable growth

Job description

Job Purpose

KRA:-1.Continuous interaction with brokers and other intermarries

Obtaining quote request from market & Delivering them on time to the client/partners

Drive channel strategy to increase revenue growth with focus on profitable segments

Weekly tracking of business growth. Seeking support from various stake holders towards closure of business

Job Purpose

KRA:-1.Continuous interaction with brokers and other intermarries

Obtaining quote request from market & Delivering them on time to the client/partners

Drive channel strategy to increase revenue growth with focus on profitable segments

Weekly tracking of business growth. Seeking support from various stake holders towards closure of business

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

Business

Aditya Birla Capital

Unit

Aditya Birla Health Insurance

Location

Mumbai

Poornata Position Number of the job

Reports to: Poornata Position Number

Poornata Position Title of the job

Regional Sales Manager – Large Bank

Reports to: Poornata Position Title

Head – Large Bank

Function

Sales & Marketing

Reports to: Function

Department

Institutional Business

Reports to: Department

Designation of the Employee

Regional Sales Manager – Large Bank

Designation of the Manager

Head – Large Bank

Date of writing/updation of JD

August 2017

Job Purpose: Write the purpose for which the job exists (in 2-3 lines)

Build, strategise and develop the Bank channels by building the right structure, developing relationships with Circle Managers and Zonal managers to achieve / exceed the business plan. He will also strive to deepen the existing relationships to ensure that he has larger mindshare of the partner Bank such that they drive sales of ABHI products to gain topline and bottomline as per agreed product mix and distribution strategy

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

TBD

Indirect

TBD

Overall Topline

(In Rs Cr)

Channel

Source

FY19

FY20

Corporate Salary

New Business

TBD

Renewal

TBD

Total

Claims ratio

Retail

FY18

FY19

FY20

Claims Ratio

41%

51%

52%

Expense Ratio

324%

141%

86%

Combined Ratio

365%

192%

138%

FLS Productivity

(Lakh per month)

FY 18

FY 19

FY 20

TBD

Market Share

(shared)

FY18

FY19

FY20

1.3%

3.2%

6.4%

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 –

Recruit and retain best talent from market clutter

Gaining greater mindshare of partners in a multi-partner architecture. In the new open architecture, a partner gives access to limited channels or geography. This consequently leads to sharing of the same revenue pie and thereby reduced revenue from each partner

Managing multiple relationships – and thereby managing differing partner expectations across a wide spectrum of customer segments and reach.

Identify the slippages in identified channels, and innovate processes in conjunction with the Bank and operations teams to ensure that conversion loss due to channel nuances are minimized

Drive POS activation: With multiple products being available to a POS, and because of low ticket size it is important to ensure interest of POS among the wide spectrum of products available and achieve month on month activation.

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

Driving sales via Various channels of Partner Bank

Identify and build relationship with key stakeholders to gain mind-share

Continuous interaction with key stakeholders to ensure understanding of market pulse and put in force right initiative at right time to maximise revenue