Regional Head-Agency Channel

Job Description Role: Regional Manager Designation: Sr. Manager Department/Function: Agency Career Level: 6 Direct Reporting: Zonal Manager Indirect Reporting: # of Direct Reportee's: # of indirect Reportee's: Highest Education: Graduate/ post-graduate Experience: 10-12 years of experience in the Life Insurance Industry of which 10+ years should have managed Agency in Life Insurance industry II. Job Objective The Regional Head - Agency Channel is responsible for managing the agency channel's sales and operational performance within a specific region, reporting to the Zonal Head. This role focuses on achieving regional revenue and cost budgets, developing sales forecasts, supervising branch operations, and expanding the distribution network in a cost-effective manner. The Regional Head supports the Zonal Head by driving agent recruitment, productivity, and customer satisfaction while ensuring alignment with zonal strategies and company policies. III. Key Responsibility Areas # Key Result Areas Activities 1 Budget and Sales Achievement Achieve the region's budget in terms of revenue (premiums) and cost control, as set by the Zonal Head. Develop sales forecasts, budgets, and manpower plans for the region, aligning with zonal targets. Monitor sales volume, revenue, and costs against forecasts, rerouting resources to address underperformance. 2 Branch Supervision Supervise branch operations, ensuring implementation of sales tools and procedures from lead generation to closure. Optimize branch productivity by streamlining processes and supporting branch managers. Maintain branch budgets and ensure cost-effective operations. 3 Agency Network Development Increase the agency network cost-effectively by recruiting new agents and Sales managers under the guidance of the Zonal Head. Ensure early licensing of business partners to enhance earnings and productivity. Support the Zonal Head in executing growth strategies for deeper market penetration. 4 Agent Support and Development Assist new managers in recruitment and accelerate their business success through hands-on guidance. Conduct training sessions with branch managers and agents to drive performance, in collaboration with the Zonal Head. Confidential Handle HNI clients and agents directly to secure high-value business. 5 Customer Satisfaction and Service Develop and ensure customer satisfaction by maintaining excellent service quality at the regional level. Interact with external and internal stakeholders to maximize client retention and service revenue. Address customer escalations and report unresolved issues to the Zonal Head. 6 Operational and Strategic Execution Implement new processes and strategies for agency development as directed by the Zonal Head. Plan and execute business development strategies to increase written premium YoY. Provide regional input to the Zonal Head for HO discussions on payouts, marketing, and employee benefits. 7 Operational Support Supervise unit-level operations, ensuring compliance with company policies and regulatory standards (e.g., EKYC, anti-miss selling). Monitor unit budgets and costs, aligning with the Zonal Head's cost control objectives. Provide performance data and insights to the Zonal Head for regional reporting and planning 8 Compliance Adherence Monitor agent's/IMs/UMs activities for compliance with regulatory standards (e.g., IRDAI guidelines) and company policies, reporting issues to the Unit Manager. 9 Attrition Management Develop strategies to reduce IMs & UMs attrition by fostering engagement and addressing concerns promptly. Conduct regular check-ins with UMs & IMs and agents to maintain morale and identify early signs of disengagement. Report attrition trends and mitigation plans to the Zonal Head for region- wide action. IV. Key Performance Indicators Revenue Achievement: Achieve 100% of regional revenue budget annually. Cost Control: Maintain regional costs within 5% of budgeted targets. Sales Forecast Accuracy: Ensure forecasts are within 5% of actual performance. Agency Expansion: Grow the regional agency network by 10% (e.g., new agents) annually. Agent Productivity: Increase per agent premium by 8% through supervision and support. Licensing Speed: Ensure 90% of new business partners are licensed within 30 days. Customer Retention: Achieve a 90% client retention rate in the region. Branch Performance: Improve branch productivity by 10% YoY. Training Participation: Ensure 85% of agents attend regional training sessions. Confidential V. Skills Required VI. Management & Leadership of Regulatory, Compliance & Operational Risk VII. Observation of Internal Controls Maintain and observe the Company's internal control standards, implement and observe the Company's Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement the Compliance Policy by managing compliance risk and