Area Sales Manager_Group Agency_Kolkata

A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy

A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1

ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.

ABHICL’s vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.

Business Challenges: The strategy adopted by the market participants in order to actively and aggressively source business has a key impact on the market dynamics. While there have been service providers who have remained consistently focussed on the risk business, there have been other players who have adopted a very aggressive. Hence how we fare in the market also gets influenced by what strategy these participants pursue.

Soft Insurance Market: Considering the soft insurance market in India, offering solutions to price sensitive clients may turn risky. Such clients may negotiate hard on the unique solution offered which eats away the cos profitability and may opt to place the business with other manufacturers. It is extremely important to design and customize the right solution for the right set of clients.

Lack of historical data: Data based analytics is possible for players having historical data and in business for years. At the onset opportunity identification needs to be done basis feedback from partners, clients and experience. The decision to pursue an opportunity might not always be backed by data.

Inter departmental challenges: Offering and structuring a deal often involves working with various departments like operations, claims, actuarial etc to see what best can be offered. There may be instances that actuarial may not be comfortable offering a particular price that has been made available to the customer and hence working with them to see how best can things be modulated is often a tough ask. Also getting various stakeholders and constituents to the process like operations to understand the sensitivities of the various partners involved and seeing the creation of a process which meets our objective without offending either the partner concerned or the internal norms gets to be a challenge that has to be fought on a daily basis.

Partners: Given that close to 90 percent of the activity in terms of the deals coming in the market to be fought are from our partners, working with them in terms of structuring their payouts gets to be a challenge. There are peers in the market who adopt aggressive payout strategies whether it be a new business or it be a renewal and have a faster turn-around process for the same to be remitted. Besides this, they keep doing off-sites at local levels for the team players and hence that gets them a marginal head start. Hence these factors have to be taken into account and managed accordingly. How we build a scenario with partners where they start to look at us as a longer duration partnership and work in progress and not just as a transaction basis remains a key. Similarly building a relationship with partners to constantly seek insights on what the competition is upto and also what are some of the new thoughts that can be pursued is a key challenge that needs to be pursued.