Program Head - NRI Business - Life Insurance - IIM/ISB/MDI/FMS

Job Summary :

The position holder will spearhead the AFFLUENT Life Insurance Program, driving strategic growth and client-centric solutions for affluent Indian clients (Domestic, Non-Residential Indians & Business Insurance cases). This role oversees cross-functional collaboration, digital initiatives, and distribution channel engagement while ensuring operational excellence.

Volume Projections :

Deepen: NRI - 1500 Crs

Develop: Business Insurance - 250 Crs

Build: Affluent Strategy - 700 Crs (Annualized Projections)

Key Responsibilities / Key Deliverables :

Execution & Cross-Functional Collaboration:

i. Execute the strategic vision for the AFFLUENT program, collaborating with Products, Underwriting, Operations, Business MIS, and Training & Content teams to deliver solutions.

ii. Drive cross-functional projects such as product innovation and digital platform enhancements to align with affluent client needs and market trends.

Distribution Channel Management:

i. Build strong relationships with distribution channels (e.g., Agency, Axis, YBL, DSF, Strategic Alliances) to expand program outreach and client acquisition.

ii. Engage with distribution channels to co-create campaigns across Marketing and Sales, impacting sales outcomes.

Training & Development Liaison:

i. Act as the key stakeholder for training and development initiatives within the Affluent business.

ii. Ensure all teams are equipped with the necessary skills and knowledge to excel.

iii. Design training modules along with DCC to build distinctive competency for sellers across:

a. Affluent Domestic Indians

b. Non-Resident Indians (NRI)

c. Business Insurance Segment

- Product Innovation & Digital Projects

i. Partner with Product and Underwriting teams to design customized life insurance solutions for affluent customers.

ii. Oversee digital projects such as:

a. Funnel Management

b. Client Servicing Portals

c. Portfolio Reviews

d. Enhance customer experience and operational efficiency for both sellers and customers.

- Performance Management

i. Prepare management review reports.

ii. Analyze program KPIs with respective channels.

iii. Present actionable insights to senior leadership.

iv. Provide timely analysis and insights to channels for proactive diagnosis of issues and corrective action.

v. Create forums at national platforms to recognize high-performing channels and sellers.

- Operational Excellence & Bottleneck Resolution

i. Work with Operations to streamline policy issuance and claims processes.

ii. Identify and resolve bottlenecks to ensure seamless service delivery.

iii. Ensure compliance with IRDAI regulations and internal policies.

iv. Collaborate with Legal and Compliance teams to mitigate risks and improve program efficiency.

- Engagement Rhythm, Governance & Calendar Management

i. Define and implement a channel-specific engagement rhythm calendar.

ii. Drive key performance indicators at the beginning of every month.

iii. Ensure execution, monitoring, visibility, and regular updates.

- Data Management & Data-Driven Decision Making

i. Oversee creation and management of comprehensive dashboards.

ii. Develop work plans.

iii. Gather and generate relevant data.

iv. Conduct detailed analysis.

v. Formulate actionable recommendations to improve business outcomes.

Measures of Success :

- Timely and reasonable estimation of sales and related key metrics.

- Achievement of key objectives of New Growth Verticals.

- Timely and quality deliverables.

- Consistency, accuracy, and TAT adherence.

- Process improvements.

- High-quality performance reports.

- Effective project management.

- Process improvements through digital interventions.

- Timely execution of all digital projects.

Key Relationships :

Internal Stakeholders

- Top Leadership

- Axis Team

- Proprietary & Partnership Teams

- Strategy Team

- Product Team

- Marketing Team

- Operations Team

- MIS & Reporting Team (BIIG)

External Stakeholders

- NA

Key Competencies / Skills Required :

- Strong analytical skills.

- Ability to understand the big picture.

- Excellent communication and presentation skills.

- Ability to express ideas clearly and persuasively.

- Strong planning and organizational skills.

- Effective at planning and organizing activities for self and team.

Desired Qualification & Experience :

- Minimum 6-10 years of experience in the BFSI, preferably Life Insurance industry.

- MBA from a Top-Tier College.

- Proven experience in translating strategy into execution.

- Experience managing cross-functional relationships independently.

- Excellent communication skills with the ability to connect and inspire colleagues at all levels.

- Ability to manage ambiguity and change.

- Strong project management skills.