Area Head – Bancassurance

Job Description:

The Area Head – Bancassurance is responsible for driving Third-Party Product sales for Insurance products. This role involves collaborating with various branches and sales channels, ensuring compliance with regulatory standards, and implementing strategies to optimize productivity and achieve set targets.

Key Responsibilities

1. Insurance Premiums Management
   • Drive insurance premium sales across various channels to achieve and exceed targets.
2. SP Licensing Management
   • Manage and facilitate the licensing of Sales Persons (SP) across branches, ensuring consistent growth and compliance.
3. Strategy Formulation & Implementation
   • Develop and execute strategies in collaboration with branches and segments to increase insurance product sales.
4. Team Productivity Management
   • Support and guide teams across channels to achieve desired productivity levels.
5. Compliance Adherence
   • Ensure full adherence to compliance processes and regulatory guidelines.
6. Collaboration with Operations & Business Solutions
   • Partner with Operations and Business Solution teams for seamless product implementation and delivery.
7. Training Design & Delivery
   • Develop and conduct training programs to enhance the skill sets of the sales teams and drive high performance.

Qualifications and Experience

Educational Qualifications

• Essential: MBA or Postgraduate Degree in a Financial discipline
• Certifications: IRDA Certification

Experience Requirements

• Essential: Minimum of 8 years of experience with extensive exposure to handling Insurance products, especially in a bancassurance environment.

Key Skills

• Insurance Expertise: Strong understanding of Life, General, and Health Insurance products.
• Channel Management: Ability to effectively manage and motivate multiple sales channels to meet and exceed targets.
• Strategic Planning: Skilled in strategizing and identifying key focus areas based on market trends.
• Process & Compliance Knowledge: In-depth understanding of insurance processes and regulatory compliance requirements.
• Interpersonal Skills: Strong communication and interpersonal skills to foster collaboration and drive results.