Branch Manager - Agency Sales - Bikaner

Job Description

Job Purpose

To ensure sales target achievement in the given territory and with the channel partner. Effectively Liaison both internally and externally to achieve the desired results.

Job Context & Major Challenges

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 specificsolutions 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.

Opportunities - With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space the clients are facing challenges to cater to the needs of diverse workforce. Increasingly Indian clients have started considering group benefits as a lever to manage employee expectations, talent acquisition and retention. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions which would help them meet their end objectives and bring in profitable revenue source for the company.

Perspectives:

Distribution: To identify and develop a relationship with new partners to maximize reach. To strengthen relationships with partners to ensure greater mind-share and thereby higher market-share in a very short span of time.

To enable the teams to align with the organization objectives and processes to create an effective and motivated sales team which will lead to better productivity and quality of business. Implement long term and short term strategic plans to increase the market share and profitability in line with the company's business objectives.

Identifying new segments and opportunities to structure offerings and cross sell in a very competitive market.

Key Challenges for the role 1. Given that close to 90 percent of the activity in terms of the deals coming in the market to be fought are from our partners, working with them in terms of structuring their payouts gets to be a challenge. There are peers in the market who adopt aggressive payout strategies whether it be a new business or it be a renewal and have a faster turn-around process for the same to be remitted.
2. Partners keep doing off-sites at local levels for the team players and hence that gets them a marginal head start. Hence these factors have to be taken into account and managed accordingly.
3. How we build a scenario with partners where they start to look at us as a longer duration partnership and work in progress and not just as a transaction basis remains a key.
4. Similarly building a relationship with partners to constantly seek insights on what the competition is upto and also what are some of the new thoughts that can be pursued is a key challenge that needs to be pursued. Enhance Top-line revenue growth
5. Owning the customer experience Marketing as a service

Key Result Areas