Job Description

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.

4) Key Result Areas:Writethe 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 Drive channel strategy as per cos directives to increase revenue growth in profitable segments / large clients
Partner engagement	Understand market dynamics and offering of other manufacturers to the Bank Take regular feedback from Bank to help innovate products and provide solutions at an organizational level Pursue client specific requirement along with channel partners to support conversion
Maintaining Pipeline	Managing a pipeline to achieve desired numbers ant to continuously updating the same
P & L	Managing Overall P&L of the zone and deliver planned business output in desired product mix and quality Working with product team to focus on conversions and retention of profitable clients Weekly tracking of business growth. Seeking support from various stake holders towards closure of business
Enable sales force to ensure productivity and retention	Collaborate on creation of appropriate progression plans Collaborate on creation of appropriate training plans Ensure communication of objectives, new initiatives and programs across all levels
Renewal persistency	Decoding client's requirement, pain points and opportunity areas Providing need based solutions to clients to increase stickiness. This would involve building & strengthening relationships across the various stakeholders within the company, within the concerned partner for the account as also within the internal stakeholders in the co. to ensure that the offering we propose, meets their expectations.
Identify and develop a team of sales professionals for the Channel	Recruit the best talent from the available clutter Coach and Develop team members Build People capability

CM - Group Sales - Rural & Government Business - Gurgaon