Sales Manager

3 weeks ago

Vadodara, Gujarat, India Max Life Insurance Full time
Job Description

Max Life Insurance Company Limited is looking for Sales Manager - Bancassurance to join our dynamic team and embark on a rewarding career journey

- Bancassurance Sales Strategy Develop and implement a comprehensive sales strategy for the Bancassurance channel in alignment with the company's overall sales objectives
- Identify target banks and establish strategic partnerships to expand the distribution network
- Set ambitious sales targets and develop plans to achieve them
- Relationship Management Build and maintain strong relationships with partner banks, including key decision-makers and stakeholders
- Collaborate with bank representatives to understand their business goals, customer needs, and market dynamics
- Work closely with the bank's sales teams to train, motivate, and support them in promoting insurance products to their customers
- Team Leadership Lead and manage a team of sales representatives specializing in Bancassurance sales
- Provide guidance, coaching, and training to enhance their sales skills and product knowledge
- Set clear sales targets and performance expectations
- Monitor individual and team performance, provide feedback, and implement performance improvement plans as needed
- Sales Planning and Execution Develop sales plans, targets, and strategies for the Bancassurance channel
- Monitor market trends, competitor activities, and customer preferences to identify sales opportunities and adapt sales strategies accordingly
- Collaborate with the marketing team to develop and implement promotional campaigns and sales support materials
- Product Knowledge and Training Stay updated on insurance products, industry trends, and regulatory requirements
- Provide training and product knowledge sessions to bank employees to enhance their understanding of insurance offerings and enable effective cross-selling
- Ensure the sales team is well-equipped to present insurance products and address customer inquiries
- Sales Performance Analysis Analyze sales data, performance metrics, and key performance indicators (KPIs) to evaluate the effectiveness of sales strategies and activities
- Identify areas of improvement and implement corrective actions to achieve sales targets
- Prepare regular sales reports and presentations for management, highlighting sales achievements, challenges, and recommendations
- Compliance and Risk Management Ensure compliance with regulatory requirements, internal policies, and industry standards
- Stay updated on insurance laws and regulations affecting the Bancassurance channel
- Implement effective risk management practices to mitigate operational and compliance risks associated with sales activities
- Relationship with Insurance Providers Foster strong relationships with insurance providers and underwriters
- Collaborate with them to develop tailored insurance products and services that meet customer needs and align with the bank's offerings
- Negotiate terms, commissions, and incentives to ensure mutually beneficial partnerships

Role:Sales Manager

Industry Type:Insurance

Department:BFSI,Investments & Trading

Employment Type:Full Time, Permanent

Role Category:Lending

Education

UG:Any Graduate

- PG:Any Postgraduate

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