Insurance Business Development Manager

23 hours ago

Mumbai, Maharashtra, India beBeeBusiness Full time ₹ 9,00,000 - ₹ 12,00,000

We are seeking an experienced Insurance Business Development Manager to lead our Bancassurance sales team. The ideal candidate will be responsible for driving sales growth through the Bancassurance channel by building and managing relationships with banks and driving insurance product sales through their network.

  • Key Responsibilities
  • Bancassurance Sales Strategy Develop and implement a comprehensive sales strategy for the Bancassurance channel in alignment with our 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
Requirements

The successful candidate must possess:

  • A degree in any field
  • Strong analytical and problem-solving skills
  • Excellent communication and interpersonal skills
  • Ability to work in a fast-paced environment
  • Familiarity with Bancassurance sales and insurance products
  • Experience in sales leadership or business development

We offer a competitive compensation package, opportunities for career growth, and a dynamic work environment.

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