Role Accountability
JOB DESCRIPTION
- Deliver on planned new insurance policies sales, Budgeting, Planning & Forecasting for Insurance New Business. Scale of new business from respective zones/channels.
- Drive new insurance business (group products) through credit card point of sales team. Continuous engagement with large card sales FTEs & NFTEs.
- Responsible for maintaining desired 1st year renewal rate of new business sourced (R1 Renewals).
- Responsible for adherence of all regulatory requirements pertaining to field sales of insurance products. Certification & trainings of SPs, Record maintenance and any other such requirements.
- Meet all productivity & cost of acquisition targets assigned for the vertical. Ensure sales per FTE & NFTE productivity targets are met while keeping cost of acquisition under expected benchmarks.
- Manage complete sales cycle for insurance products - device lead generation campaigns, sales training & monitoring tools, document completion, policy processing & policy issuance. Ensure that at all stages necessary through put is maintained with minimal leakages/drop. Effectively manage all steps right from lead generation to policy issuance & cancellations.
- Responsible for hiring, training, onboarding, training, retention of field sales staff. Necessary hiring TAT, training quality and certification, attrition rate is maintained.
- Partner Management: Liaison with all Insurance partners to ensure their engagement with insurance sales team & card sales team. Drive them towards creating support infrastructure of SBI Card insurance sales.
- Responsible for quality control, customer complaints, compliance metrics for the channel - cancellations, complaints, quality score etc. to be monitored closely & ensure all metrics stay within benchmark decided.
- Help product team in periodic industry benchmarking of products, gather sales feedback, analyze & create new opportunities for sales/ new products.
- Liaison closely with Insurance & Cross-sell telemarketing team to ensure necessary conversions are delivered on group products. Gather necessary feedback from tele-calling team to ensure improvement in sourcing.
Measures of Success (Define the Outcomes expected of the role):
- Insurance new business sales & income through On-field distribution.
- Maintain sales productivity numbers - Per FTE & NFTE.
- Maintain Cost of Acquisition for new insurance business.
- Compliance to all regulatory requirements, clean audits.
- Customer Complaints & Quality metrics.
- Renewal/ Persistency for R1 (1st year renewal).
Technical Skills / Experience / Certification (If Any).
Analytical Skills, Communication Skills, Team management & Leadership, Direct Sales & Channel Sales Distribution, Relationship Management, Channel Partner, Tele Calling Agencies.
Competencies critical for role with High Proficiency
Post-graduate or Graduate with relevant 8-12 years experience in cross-sell, Exposure in BFSI with minimum 4 years in Insurance, Mutual Funds, Banking, NBFC.
