Job Summary
Locations:
Experience:
Keywords / Skills :
Function:
• Banking, Insurance & Financial Services
Role:
• Agency Manager
• Business Development Manager
• Branch Manager
Industry:
• FMCG
• Insurance
Summary:
Posted On:
Greetings from Bhavya HR Solutions!
we have urgent openings in Hyderabad, for Agency Partner Chaneel – Branch Manager – Life Insurance
Salary Range: 9 Lacs
Job Title
Branch Head – APC
Function
Agency Partner Channel
Department
APC – Sales
Reporting To
(Title) Zonal Manager – APC
Unit
Birla Sun Life Insurance Company Ltd
Location
Chennai, Coimbatore, Trichy, & Kochi
CTC Offered
8.00 Lakhs till 9.00 Lakhs (MAX)
Job Descreption:
1) Job Purpose
The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned area 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 and recruitment of BDM, Agency Partner and Advisors.
2) Dimensions
What are the areas (in quantitative terms) the job has an impact on?
Dimension Remarks
1. Manpower (Nos.) Around 5-6 Business Development Managers Around 10-11 APs It is continuous process of recruiting BDMs.
2. Annualised Premium (in Cr) 20 – 25 lacs in Yr I
70– 90 lacs in Yr II
2cr – 2.5 cr. in Yr III
3. Net Annualised Advisor Commission (NAAC) (in Cr) 5 – 6 lacs in Yr. I
20 – 25 lacs in Yr II
50 – 60 lacs in Yr III
4. Persistency 85% 13 month Rolling Premium Persistency
5. Area of Control Take care of the Branch
6. Activisation 25% of BDMs
3) Job Context & Major Challenges
(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Zone?
Key Challenges for the role –
• Building a robust variable distribution and high productivity network with high penetration leveraging on the Agency Partner model.
• Short gestation period to hire, develop and deliver the new business in the new vertical because of continuous business demands.
• Building involvement & engagement of the leader force that are not on the payrolls; is by itself a challenging & difficult prospect both from acquisition as well as activation perspective.
• Scarcity of skilled/right fit 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.
• Managing Attrition at the frontline due to competition
4) Principal Accountabilities
Accountability Supporting Actions
Ensure budget capacitization of BDM to induct them to the business work flows. 8. Hire qualified manpower of BDMs so that 100% FYP capacity of manpower is maintained & utilized at all times.
9. Assist & guide the BDMs in proper recruitment of Agency Partner and Advisors.
10. Monitor the status of the budgeted FYP capacity of BDMs vis-à-vis the actual strength on board on a regular basis.
11. Ensure that the KPIs & targets of BDMs are properly communicated & understood.
12. Ensuing that the goal sheet of the Agency Partner has properly been communicated and explained by their BDMs.
13. Carry out goal setting of each individual BDM for the month, quarter & year.
14. Monitor & review the performance of BDMs on predefined parameters
(FYP/NOP/NAAC/Activisation /Recruitment) & take timely corrective actions
Ensure training & development of the team to enhance performance. 4. Collaborate with the Sales Training team to ensure that workforce is timely trained on products & processes as per the training plan.
5. Ensuring attendance of trained advisor recruits in IRDA exams.
6. Conduct extensive training on recruitment and selling skills to enhance productivity of BDMs
Achievement of Business Targets as set through and with the Team by meeting the functional goals set. 6. Monitor the performance of the BDMs on the predefined parameters (FYP/NOP/NAAC/Activization/Persistency/Recruitment of mentors & advisors)
7. Ensure continuous acquisition of advisors by their team of BDMSs on a regular basis.
8. Ensure that communication on goal sheets, contests, payouts etc are rolled out to advisors by BDMs and same is understood by them as well.
9. Ensure through continual communication & reviews that majority of the work force achieves their goal sheets & moves up the career ladder.
10. Drive benchmarks & motivate BDMSs and mentors to achieve their goal sheet, seek promotion and earn incentives.
Track attrition and persistency to achieve business health for the territory 3. Monitor attrition of the sales team on a regular basis & ensure corrective actions are taken to arrest the same.
4. Ensure a high percentile of modal premium through analysis and product mix
.
Identify business opportunities through market intelligence 3. Gain market intelligence & put in place strategies to FYP potential market.
4. Ensure recruitment of advisors in the areas having unexploited potential
Relationship Management 3. Partner with other departments of BSLI to ensure sales support.
4. Manage and resolve escalations.
Team Management 4. Ensure through continuous on the job training, skill enhancement of team
5. Mentor, supervise and coach the team.
6. Provide for on the job as well as classroom training for skill enhancement
4. Ensure periodic job rotation to give a higher exposure to the team members on all aspects.
5) Job Purpose of Direct Reports
Business Development Managers:
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.
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
Event Management Vendors
Training Institutes Need Based
Need Based To get the local event done
To get the IRDA training done & quality is maintained
Interested candidates can reach us at [HIDDEN TEXT] or 8106919430.or 8688223303
if this mail is not relevant to you, kindly ignore. we appreciate your references.
Regards,
Sudha Tammisetty
HR-Recruiter
[HIDDEN TEXT]
8106919430 or 8688223303
:
insuranceLife insuranceBankingLoansSalessalesDirect SalesMarket DevelopmentSales MarketingBusiness developmentMarketing
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Branch Manager - CTC : 9 Lacs - Hyderabad - Life Insurance Industry / Agency partner Chaneel
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