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Aditya Birla Group

Ranchi, India

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Job Description

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 Manager APC	Reports to: Poornata Position Title	Head-Variable Agency
Function	Sales & Marketing	Reports to: Function	Sales & Marketing
Department	Sales - Agency sales	Reports to: Department	Sales - Agency sales
Designation of the Employee	Senior Chief Manager	Designation of the Manager	Assistant Vice President
Date of writing/updation of JD	August 2017

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

The purpose of the job is to build, and develop the execution plan for the region to achieve distribution building, top line and bottom line targets, keeping in focus various parameters like revenue, distribution creation, cost efficiencies, for the region & help make the organization a leading player in the region.

To ensure delivery of unique consumer value proposition by ensuring enabling framework for the regional sales force along with Sales Training, Product, Operations, HR & Distribution, strategy team.

2) 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.

Metric	Metric	Units	FY18	FY19	FY20
Revenue	GWP	Rs Mn	80	342	980
	Renewal	Rs Mn	0
Cost	Claims Ratio	%	41%	51%	52%
	Expense Ratio	%	324%	141%	86%
	Combined Ratio	%	365%	192%	138%
Market share (% of business done by Private Insurers)	Retail	%	1.30%	3.20%	6.40%
Team/Span	Direct	No.	10 BMs	15 BMs	15 BMs
	Indirect
	Agency partners	No.
	Advisors	No.
Productivity	% Active Advisors	%	20%	20%	20%
	Active Advisors/FLS	No.	25	30	35
	NOP/active advisor/Month	No.	1.43	1.76	2.11
	GWP/active advisor/Month	Rs.	4,391	5,797	8,643
3) 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 propositionincludes - 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. Challenges - Key Challenges for the role - Creating and enticing value proposition in the distributor and consumer segment for a completely new concept and product in the market. Ensuring profitability and timely break-even in a cost driven market. Building a robust low cost & high productivity distribution network with high penetration leveraging the agency partner module. Creating a distribution network from scratch which is rather difficult in the present circumstances. Also since the number of people in the distribution network is significantly less compared to the Agency channel, the productivity of the sales team will be significantly higher & thus being difficult to sustain. Since the channel is new and there is no support from a robust existing pool of advisors, licensing the new advisors in wake of changing syllabus, training the scattered resources and coordinating their examinations, is a difficult but necessary proposition. Short gestation period to develop and deliver the new business in the new processes of the new vertical because of continuous business demands. Scattered manpower across small locations which makes tracking, monitoring & driving of business & related activities difficult & complex. Building involvement & engagement of the Agency Partner force that are not full time employee is by itself a challenging & difficult prospect both from acquisition as well as activation perspective. Scarcity of skilled/right fit of man power to fit the module of business. Managing expectations of high performers: high performers expectation rises every year and to satisfy it through innovative means is a big challenge. Getting low cost infrastructure in place across locations.

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

Ensure budget capacitation of the Branch Head, & Agency Partners to induct them to the business work flows in order to achieve

business targets assigned for the territories

Hire quality manpower Branch Heads within TAT so that 100% capacity is maintain at all times.

Assist & guide the Branch Heads in proper recruitment of Agency Partners and advisors

Monitor the status of the budgeted capacity vis--vis the actual strength on board on a regular basis.

Ensuing that the goal sheet of the Agency Partners has been communicated explained by their Branch Heads

Carry out regular performance reviews, provide developmental inputs periodically.

Monitor & review the performance of Branch Heads on predefined parameters (AP/NOP/renewals/Activisation /Recruitment) & take timely corrective actions

Ensure effective execution of thebusiness strategy in the region. Ensure profitable and sustainable business by driving sourcing of high quality business sourced, market conduct in line with organizational and legal requirements

Prepare business plans & detailed Action Plan to achieve the targets

Drive a mechanism for gathering information on competitor products, services, practices etc at the grass root level.

Partner with Training team to create training architecture and ensure effective training processes are in place.

Ensure lead generation activities for advisor recruitment in APC branches in partnership with the Marketing Team

Ensure implementation of sales promotion & R & R programs intended to motivate the sales force and help the branches to achieve the revenue targets for CAM Ensure training & development of the team to enhance performance.

Assist the R&R team in the development of the promotional programs

Effectively communicate the promotional program to the entire sales team.

Ensure creation & fulfilment of effective contests and drive processes to achieved desired business results.

Ensure that branches achieve the incremental revenues through these programs.

Oversee the delivery of results during the program period

Collaborate with the Sales Training team to ensure that workforce is timely trained on products & processes as per the training plan.

Ensuring attendance of trained recruits in IRDA exams

Conduct extensive training on recruitment and selling skills to enhance productivity of team

Achievement of Business Targets, track attrition and renewals to achieve

business health for the region.

Monitor the performance of the Sales team on predefined parameters (AP/NOP/Activization/Renewal/Recruitment of mentors & advisors)

Create effective engagement interventions at the regional level to ensure high levels of activity & delivery

Conduct periodic reviews to monitor the key business levers and take corrective action where necessary

Ensure continuous acquisition of new APs, advisors.

Ensure that communication on Goal sheets, contests, payouts etc and rolled out at regular frequency and understood uniformly.

Ensure through continual communication & reviews that majority of the work force achieves their Goal sheets & moves up the career ladder.

Monitor attrition of the Sales team on a regular basis & ensure corrective actions are taken to arrest the same.

Ensure a high percentile of premium through analysis and product mix

Implementing Sales progression across the levels wherein people are assured of career enhancement on delivery of the expectations

Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability

Gain market intelligence

Put in place strategies to tap potential market.

Ensure recruitment of advisors in the areas having unexploited potential

Enhance brand awareness in underdeveloped areas for future business

Work on competition / HNI advisors & bring them into our fold

Interdepartmental Coordination and ensure that business is done in ethical manner and customer's and organisation's objectives are met.

Have regular meetings/discussions with training / underwriting/client services/HR/Compliance /Planning & Finance to understand their expectations & share requirements.

Partner with other departments to ensure sales support.

Manage and resolve escalations.

Ensure that the business activities are carried out as per the compliance & regulatory guidelines laid by the company

Put in place checks and balances to control the quality of business

Take corrective actions as and when any malpractice is found

Team Management

Ensure through continuous on the job training, skill enhancement of team

Mentor, supervise and coach the team.

Provide for on the job as well as classroom training for skill enhancement

Ensure periodic job rotation to give a higher exposure to the team members on all aspects.

5) Job Purpose of Direct Reports
Branch Head: The purpose of this job is to recruit quality Agency Partners & support / train them to enable them procure insurance policies from the market, subsequently service the customers and make the branch a profit centre and to achieve annual business targets and enhancement of profitability of the assigned branch by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning. It also includes distribution building, retail development, recruitment of Advisors.
6) Relationships (If Applicable)
Internal	Frequency	Nature
Training R&R Underwriting Client Services HR Compliance Accounts/Finance	Weekly Need based Need Based Need Based Need based Need Based Need Based	To plan & execute training programme To discuss the discrepancies To discuss exceptional cases To discuss client's complaints To discuss and resolve employee query/complain , Offer Letter , joining formalities, salary delay /discrepancy etc To reply to their queries etc Delay in reimbursement of bills/RW Extension etc
External	Frequency	Nature
Event Management Vendors Training Institutes	Need Based Need Based	To get the local event done To get the IRDA training done & quality is maintained

6) Relationships (If Applicable)
Internal	Frequency	Nature
7) Organizational Relationships:Provide the structure for a level above and below the position for which this job description is written. Use position titles in the structured and indicate all the reports of the position.

SIGN-OFF:Provide the name of the Manager and the jobholder. Signature needed for the hard copy of the JD. Hard copy to be maintained in the organizational record.
	Job Holder	Reports to - Manager
Name
Signature(needed for the hard copy)