Strategy Member DDM - HDFC Relationship

Job Overview

This position is tasked with designing and leading the sales and distribution strategy for Bancassurance relationships within an Open Architecture framework at BSLI. The candidate must possess a profound understanding of banking operations and models to effectively spot cross-selling opportunities for Life Insurance products. Additionally, the role demands comprehensive knowledge of the Bancassurance channel to ensure alignment between the bank’s priorities and the insurance company’s objectives.

Responsibilities

• Continuously evaluate and refine sales processes to adapt to changing business demands through regular engagement with the sales team and implementation of new initiatives.
• Assess current channel structures and help determine optimal manpower needs aligned with evolving business requirements.
• Analyze MIS trends to devise corrective measures enhancing persistency, product mix, incentive earning rates, and channel productivity.
• Create and disseminate launch communications and presentations for field teams and senior management committees.
• Develop, monitor, and regulate channel budgets and establish business targets in consultation with sales leadership.
• Conduct impact analyses on budgets considering past trends, market, and regulatory environments, benchmarking competition to set achievable objectives.
• Collaborate with sales leadership to define KPIs across Bancassurance roles nationwide.
• Generate periodic dashboards and recommend corrective actions to improve field force performance against key business indicators.
• Track monthly compensation payouts to evaluate effects on retention, productivity, and earning potential.
• Ensure compensation structures and career progression mechanisms effectively retain talent long-term.
• Set quality performance standards that reinforce the BSLI operational ethos valued by the bank.
• Review existing sales support tools, portals, and communication channels for efficacy.
• Identify and implement IT projects to meet the channel’s evolving needs, including leading critical technology initiatives.
• Facilitate the development and deployment of an analytics engine tailored to the Bancassurance channel.

Additional Information

The role necessitates a strategic, analytical, and proactive approach to managing sales operations in partnership with a banking institution, requiring close coordination across various departments and functions to drive Bancassurance growth.