Cluster Manager - HDFC Branch Banking - Mumbai

Overview

The primary objective of this role is to generate insurance business through assigned relationships and channel partners within a designated area or zone. The role involves persuading these partners to encourage their customers to invest in Birla Sunlife Insurance products. It encompasses providing comprehensive pre and post-sales support both to the partners and their clients, supported by a dedicated team. Apart from meeting set targets, consistent quarterly growth in business is essential.

Context and Challenges

• Dealing with market fluctuations as Birla Sunlife Insurance mainly offers unit linked policies.
• High reliance on the HDFC Branch Banking model using an open architecture that may prioritize other objectives, making alignment critical.
• Balancing procedural requirements with channel partners' expectations.

Key Responsibilities

• Drive premium and revenue targets actively through ongoing interaction with multiple branch heads to maintain company growth.
• Map key decision makers and keep regional and zonal heads informed accordingly.
• Leverage all organization-run reward and recognition activities aggressively.
• Develop innovative branch-level initiatives to increase customer penetration.
• Ensure smooth execution of sales and service processes by communicating policy or procedural changes and providing necessary training.
• Oversee sales calls, policy issuance, and complaint resolution without obstacles.
• Manage relationships across all levels within the bank’s open architecture model, ensuring products and services meet customer requirements.
• Maintain up-to-date knowledge of insurance and bank product offerings.
• Identify new business prospects in the allocated areas or relationships to improve productivity and topline figures.
• Implement financial service review mechanisms targeting 40% activation and 2 active cases per customer with an average ticket size of ₹50,000.
• Maintain product mix targets: Traditional products 50%, ULIPs 40%, Term insurance 10%.
• Generate at least 15% business exceeding comparable competitor metrics such as TATA.
• Provide feedback on new products and sales presentations based on deep understanding of channel needs.
• Recognize training requirements for in-house and channel partner teams.
• Regularly review the business for quality and provide necessary information to higher management.
• Engage customers through welcome calls and ensure timely premium renewals by addressing queries promptly.