1. Business planning
Work closely with the product and underwriting team to create unique offerings as per the current market trends to suit the channel partners requirements and requisite approvals for the same from the Bank Head Office
Work with the Brand team to create collateral designs for campaigns and products
Understand what competitors are doing, liaison with the third party product distribution department to formulate business planning for increasing penetration at the Bank of India branches
Analyze data related to customer mix, segmentation, identify opportunities and then propose products accordingly
Study the Pvt Bank Banassurance competitive landscape, customer segmentation, loss ratios and implement the correct sales strategies, product mix, processing and backend support to increase sales from the partnership
2. Driving topline
Help drive the P&L for Pvt Bank Bancassurance business to deliver topline (gross premium) targets on a monthly basis while keeping a healthy claims ratios and achieving profitability by converting loan book business into policies
Prepare and recommend campaign designs, proposals and plans for bank to National Head Pvt Banks to maximize sales from existing and new branches.
Helping the BAGIC Zonal teams drive topline in the geographies by giving inputs and insights on sales
Maintain Productivity of each resource assign to relationship
Recommend manpower requisitioning and positioning as per the requirement
3. Relationship Management
Maintaining and growing relationship with the key stakeholders - senior officials at the partner head office, zonal and regional heads of the Pvt Bank branches
Work closely with the finance team for campaign budget approvals
Manage and address any escalations coming from the partner head office, zonal or regional office
Specify targets for team as per the channel partners potential and capability and provide the requisite training and support in achieving the same
Identify new products requirements/ customization required for bundling and create a new product as well as ensure smooth processing of all aspects leading up to the products market roll-out
Coordinate with internal teams to develop, implement, integrate and ensure smooth processing of all new and existing products
4. Functional Review
Quarterly business review with Country Head Bancassurance and CTO - Institutional Sales
Monthly reviews with the team to monitor achievement of individual targets, discuss business issues and design action plans to course correct, if required
Conduct periodic reviews with the GM of the channel partner and BAGIC National Head PSU Banks/Country Head/CDO to drive business numbers, identify opportunities and address any escalations/concerns
Periodic discussions with the product development and other internal teams to determine product performance and enhancements
Review on the various strategy periodically as and when required and changes to be made as per the external factors of bank and competitors behaviour
5. Team Management
Participate in recruitment process to identify right talent for various positions within the team
Support team members in delivering their responsibilities in business as usual by keeping them motivated, resolving their concerns/ challenges, if any and maintaining a positive team spirit
Build and enhance capabilities within the team by providing required trainings on new products as well as building process efficiencies