Senior Manager/ AVP Cross-Sell and Insurance

ACURA SOLUTIONS LTD; Mumbai; On-site; INR 1,000,000 - 1,800,000; Full time

Job summary

ACURA SOLUTIONS LTD in Mumbai is seeking a Senior Manager/AVP for Cross-Sell Insurance to drive revenue through insurance products across the customer lifecycle. The role will require oversight of insurance partnerships, regulatory governance, and collaboration with Sales, Credit, Operations and Finance teams.

The candidate will lead business growth initiatives, design propositions, and ensure policy issuance, servicing, and customer experience are compliant and effective.

Qualifications

• Experience in insurance distribution, bancassurance, corporate agency, cross-sell or financial services.
• Strong experience in building and scaling insurance/cross-sell businesses.
• Experience in managing insurance company relationships and commercial arrangements.
• Regulatory ownership/oversight of an insurance distribution business preferred.

Responsibilities

• Drive cross-sell revenue growth across the customer lifecycle.
• Develop and execute annual business plans and growth strategies for cross-sell products.
• Monitor product/channel performance and implement corrective actions to meet targets.
• Enhance customer penetration and improve attachment rates across loans and existing customers.
• Manage relationships with insurers, brokers, TPAs and ecosystem partners.
• Design and implement customer-centric insurance propositions including life, property, health.
• Negotiate commercial terms with partners and ensure service standards.
• Ensure compliant operations with IRDAI regulations and proper governance.
• Present performance and strategic recommendations to senior management.
• Act as Principal Officer for Corporate Agency business and oversee regulatory responsibilities.

Skills

Cross-sell growth

Stakeholder management

Regulatory compliance

Negotiation

Analytical skills

Education

Graduate/Postgraduate in any discipline

Job description

Job Description

Position: Senior Manager/ AVP Cross-Sell Insurance
Location: Mumbai
Industry: Housing Finance Company (HFC)
Reporting To: CEO/ Business Head

Role Overview

Key Responsibilities

Business Growth Revenue Generation

• Drive cross-sell revenue through insurance and other fee-based products across the customer lifecycle.
• Develop and execute annual business plans, budgets, and growth strategies for cross-sell products.
• Monitor product-wise and channel-wise performance and drive corrective actions to achieve targets.
• Enhance customer penetration and improve attachment rates across loan originations and existing customer base.

Insurance Business Management

• Manage relationships with insurance partners and identify opportunities to expand product offerings.
• Design and implement customer-centric insurance propositions including credit life, property insurance, health insurance, and other relevant products.
• Negotiate commercial arrangements and service standards with insurance partners.
• Ensure seamless policy issuance, servicing, claims support, and customer experience.

Sales Enablement Distribution Management

• Work closely with sales, operations, and branch teams to drive product adoption and business growth.
• Develop sales campaigns, incentive structures, and engagement programs to improve productivity.
• Conduct regular training and capability-building initiatives for frontline teams.
• Monitor branch and regional performance and provide actionable insights.

Process, Compliance Governance

• Ensure that the insurance distribution business operates in compliance with applicable IRDAI regulations, circulars, guidelines and other regulatory requirements.
• Monitor compliance with requirements relating to customer protection, disclosures, solicitation, product suitability, mis-selling and grievance redressal.
• Monitor policy issuance, persistency, claims servicing, and operational controls.
• Establish robust MIS, dashboards, and business review mechanisms.
• Ensure maintenance of appropriate records, agreements, reports, returns and documentation relating to the insurance business.

Stakeholder Management

• Collaborate with internal stakeholders including Sales, Credit, Operations, Finance, Risk, Technology, and Compliance teams.
• Manage relationships with insurers, brokers, TPAs, and other ecosystem partners.
• Present business performance, key initiatives, and strategic recommendations to senior management.

Principal Officer Responsibility

• The selected candidate will, subject to meeting the applicable regulatory eligibility requirements and obtaining the necessary approvals/permissions, be designated by the Company as the Principal Officer for its Corporate Agency business, in addition to the responsibilities associated with this role.
• Candidate should meet the applicable IRDAI eligibility, qualification, training and examination requirements for the relevant role.
• Accordingly, the candidate should be capable of independently overseeing the regulatory and compliance aspects of the Companys insurance distribution activities and acting as the key point of responsibility for matters relating to the Corporate Agency framework.
• The candidate will be expected to work closely with senior management and the Compliance function to ensure effective governance and regulatory oversight of the insurance business.

Preferred Candidate Profile

• Graduate/Postgraduate in any discipline; qualifications in Insurance, Finance, Business Management, Law or Compliance would be an advantage.
• 812 years of relevant experience in insurance distribution, bancassurance, corporate agency, insurance broking or cross-sell/financial services.
• Strong experience in building and scaling insurance/cross-sell businesses, preferably within a housing finance company, bank, NBFC or other financial services organisation.
• Experience in managing insurance company relationships and commercial/business arrangements.
• Prior experience in a role involving regulatory ownership/oversight of an insurance distribution business would be preferred.
• Strong commercial acumen combined with a sound understanding of regulatory and compliance requirements.
• Excellent stakeholder-management, communication, negotiation and analytical skills.

Key Success Metrics

• Cross-sell and insurance revenue achievement.
• Insurance penetration and attachment rates.
• Customer coverage and product adoption.
• Partner productivity and relationship effectiveness.
• Compliance and audit outcomes.
• Process efficiency and customer experience metrics.

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