Job Description

• JOB PURPOSE

(Summarize in one statement why the job exists; and how it contributes to the overall objective of the company.)



Implement travel insurance sales strategy: maintaining topline & bottom-line; maintaining key relationships across the assigned zone via corporates, travel & individual agent channels to grow travel insurance business & other LOB mix to achieve sales targets.

• ORGANISATIONAL CHART

(First level reporting chart for the job.)
Comments:

• Numerical figures represent the total number of incumbents in the role

• PRINCIPAL ACCOUNTABILITIES

(Accountabilities associated with the job.)

• Partner Acquisition & Driving Sales
  • Develop partner networks by tie-ups with large travel agents and local tie ups with smaller travel agents to increase penetration and therefore sales.
  • Create partner bandings ( as per the business sourced ) & develop strategies , reach out plans to ensure maximum activation across all channel partners.
  • Plan for cross sell & upsell other LOB\xe2\x80\x99s ( Health , Motor , Property, Liability ) along with travel business with the channel partners & ensure follow-through / execution through team.
  • Negotiation commission rates with business partners & propose the same for approvals with management.
  • Partner engagements through perks and incentive structures, campaigns for agents to increase their productivity & drive LOB mix of business.
  • Provide market input to product team to develop specified products for partners to sell through their counters.

• Managing National (NTU) Relationships
  • Reach out to national tie-up partners on periodical basis to understand business challenges w.r.t products , manpower, service issues & resolve the same on priority to ensure flow of revenues.
  • Appraise NTU partners with business updates on their business performance on YoY basis & drive LOB mix derived out of discussions.

• Functional review
  • Monitor sales targets and other metrics for different channels and products to evaluate their performance against defined targets.

• Team development
  • Conduct Monthly reviews of the team to improve productivity, partner engagements & improve LOB mix.
  • Set business targets for team basis partner potential & new acquisitions.
  • Identify and create development opportunities for team members to enhance functional knowledge
  • Involve in training of the agents and acquaint them with the knowledge of policies and products to increase the opportunities of cross selling during lean months (as travel insurance can be a seasonal business)

• MAJOR CHALLENGES

(Challenges faced on an on-going basis in carrying out the job.)

• 
  
  • Having competitive payout structure for channel partners to gain maximum mind share & also within regulatory framework.
  • Price sensitive product offering.

• DECISIONS

(Key decisions taken by job holder at his/her end.)
Decisions made by job holder

• 
  
  • Approval to sign MOU\xe2\x80\x99s for new tie-ups.
  • Approve payouts for agents for all LOB\xe2\x80\x99s as per DOA.
  • Approving the notional float as per DOA.
  • Approve invoices raised by agents for assigned zone.

• INTERACTIONS

(Key working relationships a job holder needs to have INSIDE and OUTSIDE the company to accomplish the job.)
Internal Clients



Roles you need to interact with inside the organization to enable success in your day to day work

• 
  
  • Underwriting team: To get approvals on risk proposed
  • Claims Team : To follow through on cases pending for claims
  • Finance team: For approvals on commission rates , float

External Clients



Roles you need to interact with outside the organization to enable success in your day to day work

• 
  
  • Agents: business follow-ups , training
  • National tie-ups, non-national tie ups: To influence, negotiate and collaborate to use BAGIC as an insurance provider

• DIMENSIONS

(Key numerical data which will reflect the scope and scale of activities concerning this job.)
Financial Dimensions (FY 19) (These should be quantifiable numerical amounts.)

• 
  
  • Revenue: 31 Cr. INR

Other Dimensions (FY 18) (Significant volume dimensions associated with the job.)

• 
  
  • Total Team Size: 27
  • Number of Direct Reports: 2
  • No. Of Indirect Reportees - 22
  • Number of Outsourced employees (Indirect): 3

• SKILLS AND KNOWLEDGE

(Minimum acceptable proficiency for this job which best indicates the education and/or experience requirements of this job and not the incumbent.)
Educational Qualifications

• Qualifications

• Graduate ( Minimum )
• MBA with any specialization ( desired )

• Work Experience

• Minimum 10 year of work experience in insurance sales
• Possess excellent communication skills.
• Team management experience.
• JOB PURPOSE
• (Summarize in one statement why the job exists; and how it contributes to the overall objective of the company.)
  
  
  
  Implement travel insurance sales strategy: maintaining topline & bottom-line; maintaining key relationships across the assigned zone via corporates, travel & individual agent channels to grow travel insurance business & other LOB mix to achieve sales targets.
  
  
• ORGANISATIONAL CHART
• (First level reporting chart for the job.)
  Comments:
  
  
  
  
  • Numerical figures represent the total number of incumbents in the role
  
  
• PRINCIPAL ACCOUNTABILITIES
• (Accountabilities associated with the job.)
  
  
  
  
  
  • Partner Acquisition & Driving Sales
    • Develop partner networks by tie-ups with large travel agents and local tie ups with smaller travel agents to increase penetration and therefore sales.
    • Create partner bandings ( as per the business sourced ) & develop strategies , reach out plans to ensure maximum activation across all channel partners.
    • Plan for cross sell & upsell other LOB\xe2\x80\x99s ( Health , Motor , Property, Liability ) along with travel business with the channel partners & ensure follow-through / execution through team.
    • Negotiation commission rates with business partners & propose the same for approvals with management.
    • Partner engagements through perks and incentive structures, campaigns for agents to increase their productivity & drive LOB mix of business.
    • Provide market input to product team to develop specified products for partners to sell through their counters.
  • Managing National (NTU) Relationships
    • Reach out to national tie-up partners on periodical basis to understand business challenges w.r.t products , manpower, service issues & resolve the same on priority to ensure flow of revenues.
    • Appraise NTU partners with business updates on their business performance on YoY basis & drive LOB mix derived out of discussions.
  • Functional review
    • Monitor sales targets and other metrics for different channels and products to evaluate their performance against defined targets.
  • Team development
    • Conduct Monthly reviews of the team to improve productivity, partner engagements & improve LOB mix.
    • Set business targets for team basis partner potential & new acquisitions.
    • Identify and create development opportunities for team members to enhance functional knowledge
    • Involve in training of the agents and acquaint them with the knowledge of policies and products to increase the opportunities of cross selling during lean months (as travel insurance can be a seasonal business)
  
  
• MAJOR CHALLENGES
• (Challenges faced on an on-going basis in carrying out the job.)
  
  
  
  
  • 
    
    • Having competitive payout structure for channel partners to gain maximum mind share & also within regulatory framework.
    • Price sensitive product offering.
  
  
• DECISIONS
• (Key decisions taken by job holder at his/her end.)
  Decisions made by job holder
  
  
  
  
  • 
    
    • Approval to sign MOU\xe2\x80\x99s for new tie-ups.
    • Approve payouts for agents for all LOB\xe2\x80\x99s as per DOA.
    • Approving the notional float as per DOA.
    • Approve invoices raised by agents for assigned zone.
  
  
• INTERACTIONS
• (Key working relationships a job holder needs to have INSIDE and OUTSIDE the company to accomplish the job.)
  Internal Clients
  
  
  
  Roles you need to interact with inside the organization to enable success in your day to day work
  
  
  
  
  • 
    
    • Underwriting team: To get approvals on risk proposed
    • Claims Team : To follow through on cases pending for claims
    • Finance team: For approvals on commission rates , float
  
  External Clients
  
  
  
  Roles you need to interact with outside the organization to enable success in your day to day work
  
  
  
  
  • 
    
    • Agents: business follow-ups , training
    • National tie-ups, non-national tie ups: To influence, negotiate and collaborate to use BAGIC as an insurance provider
  
  
• DIMENSIONS
• (Key numerical data which will reflect the scope and scale of activities concerning this job.)
  Financial Dimensions (FY 19) (These should be quantifiable numerical amounts.)
  
  
  
  
  • 
    
    • Revenue: 31 Cr. INR
  
  Other Dimensions (FY 18) (Significant volume dimensions associated with the job.)
  
  
  
  
  • 
    
    • Total Team Size: 27
    • Number of Direct Reports: 2
    • No. Of Indirect Reportees - 22
    • Number of Outsourced employees (Indirect): 3
  
  
• SKILLS AND KNOWLEDGE
• (Minimum acceptable proficiency for this job which best indicates the education and/or experience requirements of this job and not the incumbent.)
  Educational Qualifications
  
  
  
  
  
  • Qualifications
  • Graduate ( Minimum )
  • MBA with any specialization ( desired )
  
  
  
  
  
  • Work Experience
  • Minimum 10 year of work experience in insurance sales
  • Possess excellent communication skills.
  • Team management experience.