Head - Key Account Management - Life Insurance

JOB RESPONSIBILITIES :

Strategy & Planning :

- Undertake strategic planning on achieving sales targets for the bank and successfully communicate, implement, execute & drive the Distribution strategy of the Channel

- Support Sales with Business analysis, trends and insights to drive profitable product mix and key business vectors.

- System and process integration for ease of doing business and technological leadership in industry.

- Ensure Channel cost well within allowance limit, which includes planning & allocation of budgets and fulfilment of sales campaign in timely and compliant manner

- To create long term engagement and loyalty program to ensure long term sustainable business growth and less dependency on campaign driven business

- Setting up new Channel by Identifying new business opportunity within the bank which will create additional sales increment and generate revenue for the company

- Ensure Regulatory Reporting, Operation & Servicing, and Effective Governance mechanism.

Strengthen relationship with Bancassurance partners and productivity enhancement :

- Manage & enhance relationship with Key stake holders and departments

- Maintain clear communication with the Bancassurance partner

- Value add to Bancassurance partners by way of predefined processes in sales, training, service and supervision

- Implement Governance structure by Conducting structured monthly/ quarterly business review and development meet with bank Senior Management

- Ensure alignment of work culture, practices & performance and troubleshoot and resolve critical people related issues in the team

- Develop the recruitment and training plan for the Bancassurance channel Partners for productivity enhancement through Skill development

- Develop and implement plan for licensing of the Specified person to meet 1 SP per Branch compliance.

- Realignment of Bank Target as per sales budget and placement of manpower .

Collaborating with other departments :

- Collaborating with Marketing team to create brand and product visibility and campaign management

- Coordinating with product Team for designing new product proposition as per partners requirements

Collaborating with Bank IT Team and IT and process excellence Team for system and process integration

- Coordinating with Legal and compliance team to ensure business and process compliance as per regulatory norms

- Coordinating with MIS Team to ensure timely and accurate MIS

Customer satisfaction and retention :

- Monitor external bank customer satisfaction through a customer satisfaction index based on parameters such as customer complaints

- Identify industry best practices and ensure provides superior sales experience to its bank's customers

- Implement processes to increase renewal collections and retention for long term benefit.

KEY PERFORMANCE INDICATORS :

QUALITATIVE :

- Relationship with Channel Partners

- Employee satisfaction

- Customer satisfaction

- Successful implementation of the distribution strategy

QUANTITATIVE :

- Sales Target achievement

- Bank branch and LG activization achievement

- Profitability achievement

- Sales force productivity

- Branch productivity

- MIS & Regulatory Reporting

Experience/Qualification : 10-15 years (In Insurance / Banking / and Finance) / Graduate, preferable postgraduate in Marketing an MBA from a institute of repute