Job Description

About Max Life Insurance:

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built its

operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.

As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore.

For more information, please visit the Company's website at

We Stand for:

Caring

A compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.

Collaboration

A boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization's ask. A leader who addresses challenges with a solution oriented approach to create win-win partnerships within & outside teams through inspired cooperation and teamwork.

Customer Obession

A leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.

Growth Mindset

An ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.

People Leadership

A people's leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes.

About Max Life Insurance:

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built its

operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.

As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore.

For more information, please visit the Company's website at

We Stand for:

Caring

A compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.

Collaboration

A boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization's ask. A leader who addresses challenges with a solution oriented approach to create win-win partnerships within & outside teams through inspired cooperation and teamwork.

Customer Obession

A leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.

Growth Mindset

An ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.

People Leadership

A people's leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes.

Career Opportunity

Position

Senior Manager - Business Development

Function

Business Development

No. of Positions

1

Location

Gurgaon, Mumbai, Chennai & Bangalore

Reporting to

VP - Business Development

Band

4A

JOB SUMMARY:

• Responsible for creating the new account acquisition strategy & forging partnership with Banks,NBFC's, Financial Institutions, digital platforms/brokers/aggregators, emerging ecosystem players & other innovative channels in North & East geography
• This will include:
• Building relationships with target list of banks & select non-bank institutions in the assigned geography
• Proactively engage with target organizations to identify partnership opportunities for corporate agency & group business
• Lead engagement activity for opportunities in the Open Architecture framework with competition corporate agents
• Devising go market strategy & identify partnership opportunity with emerging ecosystem (Fintech, Health tech, Wealth tech, etc.)
• Mapping prospective accounts, building & sustaining relationships with key people in the prospective organizations
• Market scanning, competition tracking, understanding of regulatory landscape
• Designing acquisition pitches, responding to Bank RFP documents, commercial structuring, compensation design, legal agreements etc.

KEY RESPONSIBILITIES:

Business Development

• Mapping of assigned territory, prospecting and acquisition
• Identifying new distribution models
• Creating and maintaining database of prospects
• Qualifying prospects basis business potential and support required
• Building relationships with key personnel in prospects and competition accounts
• Understanding in depth business models for life insurance in lending organizations
• Responding to RFP/tender documents independently
• Creating value proposition for prospects and designing pitch presentations
• Create pitch presentations & Commercial Proposals
• Business modeling & sales process design
• Publishing timely reports on prospect status
• Build visibility for MLI in Emerging ecosystem space

Other key activities

• Partner on-boarding activities
• Design SLA with business partners and ensure adherence

for new accounts

• Adherence to internal policies & procedures

Competition Mapping

• Tracking competition strategies
• Understanding competition acquisition strategies - type of sales models, compensation models, support structures etc
• Publishing periodic reports on the channel
• Suggest improvements if any
• Collate competition information on their fulfillment strategies for key accounts and help create MLI counter strategies

• Ensure compliance with IRDA guidelines on new account acquisition

MINIMUM/SPECIFIC EXPERIENCE:

• MBA with 6-8 years of relevant business development experience in life insurance/General insurance/Health insurance industry or into BFSI
• Strong understanding of the business and excellent market network in this space
• Experience in designing & selling complex solutions to target group of entities
• Good understanding of financial tools / complexities and acquisition process
• Analytical skills & process orientation
• Strong presentation & communication skills
• Strong relationship, networking & negotiation skills
• Ability to think creatively
• Project management & execution skills
• Desirable - knowledge of IRDA regulations & MS Project

MEASURE OF SUCCESS :

• Number of new partners acquired
• New Business generated from new accounts
• Quality of relationships built
• Quality of input activities like prospecting, presentations, RFP documents etc
• Market coverage, mapping of key prospects, relationships with key personnel
• Feedback from key stakeholders
• Quality & frequency of management reports
• Adherence to time frames for sign up and launch of new relationships

KEY RELATIONSHIPS (INTERNAL /EXTERNAL)

• MLI Distribution channel heads
• MLI Finance Team
• MLI fulfillment teams
• Target prospects & Industry Participants

Max Life Insurance