Area Sales Manager - Pune

Overview

This role involves steering Term Personal Disability (TPD) sales across assigned markets through multiple channels such as Brokers, Corporate Agents, and Banks. The objective is to meet or exceed planned business goals by fostering strong partnerships and leading sales teams to achieve their targets.

Industry and Company Context

The health insurance sector is highly competitive, with over 15 private non-life insurers and 5 exclusive private health insurers competing alongside 6 nationalized providers. Despite this, roughly 85% of annual business renews with existing providers in a market worth approximately 10,000 crore INR.

Aditya Birla Health Insurance Co. Limited (ABHICL), launched in 2016 as a joint venture between Aditya Birla Capital Limited and MMI Strategic Investments, aims to expand health insurance reach beyond conventional customer bases. Positioned as the sixth entrant in the market, ABHICL differentiates itself through the philosophy of "Health Insurance for All," offering continuous, seamless customer experiences via digital and paperless processes.

Key product offerings include:

• A wellness program incentivizing young, health-conscious customers to maintain healthy lifestyles.
• A Chronic Care Management Program addressing prevalent chronic conditions from day one.

ABHICL serves not only as a healthcare expense payer but also as a catalyst encouraging healthier choices through innovative products and digital transformations.

Challenges

• Securing increased partner engagement in a multi-partner environment where revenue is shared across limited channels and geographies.
• Managing diverse partner expectations across different customer segments.
• Activating points of sale regularly despite low ticket sizes and multiple available products.

Key Responsibilities

• Maintain and deepen partnerships with banks, ensuring integration of systems and processes to increase relationship strength and customer satisfaction.
• Deliver responsive sales support to ease product selling and ensure continuous engagement at all partner management levels.
• Analyze and counter competitive threats promptly to protect market share within partner banks.
• Devise strategic sales targets aligning with partner banks' internal goals, including product mix planning, training, customer segment identification, and designing reward programs.
• Monitor sales progress daily, provide comprehensive sales management, conduct regular reviews and RM roadshows, and implement incentives to meet premium targets.
• Introduce advanced sales management practices and collaborate on training, incentives, and career progression plans for partner bank sales teams.
• Manage budgets prudently as a profit center, ensuring compliance with IRDA and internal policies through cost-benefit analyses, audits, and strategic expenditure.
• Oversee renewal processes via dedicated teams, supporting branch-level customer renewal communication and motivating service executives through reward programs.
• Drive business growth within partner bank relationships by coordinating with client acquisition teams, creating referral incentives, and identifying innovative penetration strategies.