Assistant Sales Manager - TPD Sales at Aditya Birla Capital, Gurgaon

Industry Overview

The health insurance sector in India comprises over 15 private non-life insurers and 5 exclusive health insurance entities competing alongside 6 nationalized providers. The market size is approximately ₹10,000 crores annually, with renewal business accounting for about 85% of transactions. Hence, fresh business opportunities primarily revolve around an estimated ₹1500 crores. Small and medium enterprises (SMEs) and startups drive substantial growth, providing expanding potential for tailored insurance solutions. The challenge lies in developing cost-effective, standardized offerings that broaden reach through various channel partners across the country.

Market Dynamics

With rapidly advancing medical technology, evolving lifestyles, and socio-economic shifts in India, insurers encounter diverse customer demands. A growing segment views health insurers as health advisors, necessitating customized policies with wellness incentives that align with clients' health objectives and generate sustainable revenue streams.

About Aditya Birla Health Insurance

Established in 2015 as a joint venture between Aditya Birla Capital Limited and MMI Strategic Investments (Pty) Ltd., Aditya Birla Health Insurance Company Limited began operations in October 2016. Positioned as the sixth entrant in the competitive market, the company aims to reach broader customer bases beyond traditional segments through the unique philosophy of “Health Insurance for All.” This vision shapes every consumer interaction and operational process to ensure seamless experiences.

Unique Offerings

• A comprehensive wellness rewards program encouraging young, health-conscious individuals towards healthier lifestyles.
• A chronic care management system addressing the needs of patients with lifestyle diseases such as diabetes, asthma, high cholesterol, and hypertension from day one.
• Acting as a proactive influencer in customers’ health-related decisions beyond merely covering healthcare costs.
• Innovating rapidly with a fully digital, paperless approach spanning client onboarding and claims management.

Key Challenges in the Role

• Securing increased partner engagement amid a multi-partner ecosystem where limited access dilutes individual revenue shares.
• Balancing diverse partner relationships with varied expectations across broad customer segments and markets.
• Enhancing point-of-sale activations by maintaining partner interest despite many product options and low ticket sizes.

Primary Responsibilities

• Drive sales of total permanent disability (TPD) insurance through multiple channel partners including brokers.
• Manage partner relationships through continuous communication and feedback to innovate product offerings and secure business conversions.
• Track sales pipeline and business growth metrics regularly, collaborating with stakeholders to meet targets.
• Oversee portfolio profit and loss, working closely with product teams to optimize client acquisition and retention with quality products.
• Enable and motivate the sales force by clearly communicating growth plans and incentive structures to maximize performance.
• Enhance customer renewal rates by understanding client needs and delivering tailored solutions, strengthening partnerships internally and externally.
• Build and mentor a team of sales professionals by recruiting top talent and fostering their professional development.