Branch Manager - Leading Life Insurance Company

Key Responsibilities:

1. Sales and Business Development:

• Target Achievement:

  Develop and execute comprehensive sales plans to achieve and exceed assigned branch revenue targets (e.g., Adjusted First Year Premium (AFYP), Number of Policies (NOP), product mix).

• Strategy Formulation:

  Formulate and implement effective sales strategies for various life insurance products and distribution channels (e.g., Agency, Bancassurance, Direct Sales, etc.).

• Market Penetration:

  Identify and capitalize on market opportunities to expand the customer base and increase product penetration within the assigned territory.

• Lead Management:

  Oversee the effective management, tracking, and conversion of leads, including those provided by central telemarketing units.

• Joint Field Work:

  Conduct joint field work with sales executives to observe, demonstrate, and coach successful selling skills.

• Competitive Analysis:

  Stay updated on market trends, competitor products, and industry best practices to adapt strategies accordingly.

2. Team Leadership and Management:

• Recruitment & Selection:

  Identify, interview, and select qualified sales executives/advisors with support from HR.

• Training & Development:

  Train, motivate, mentor, and coach the sales team to enhance their product knowledge, selling skills, compliance adherence, and overall performance.

• Performance Management:

  Conduct regular performance reviews (e.g., Fortnightly Performance Review - PRP) with executives, provide constructive feedback, and develop performance improvement plans for underperforming team members.

• Team Productivity:

  Monitor and drive key productivity measures for the unit, such as premium per executive, case rate, persistency, retention, and a high percentage of executives exceeding planned productivity standards.

• Succession Planning:

  Identify and develop potential leaders within the branch for higher-level roles.

• Team Engagement:

  Foster a positive and high-performance work environment, promoting teamwork and collaboration.

3. Operations and Compliance:

• Branch Operations:

  Oversee the daily operations of the branch, ensuring smooth functioning and efficient processes.

• Compliance:

  Ensure strict adherence to all company policies, procedures, ethical guidelines, and regulatory requirements (e.g., IRDAI regulations, KYC norms, PMLA, etc.).

• Quality Assurance:

  Ensure that all sales activities and customer interactions align with the company's standards for need-based selling and customer service.

• Reporting & Analysis:

  Prepare and analyze performance reports, identify areas for improvement, and provide actionable insights to senior management.

• Complaint Resolution:

  Handle customer queries and complaints promptly and effectively, ensuring high levels of customer satisfaction.

• Financial Management:

  Monitor the branch's financial performance, including budgeting, forecasting, and managing resources efficiently.

4. Customer Relationship Management:

• Customer Service:

  Ensure high levels of customer satisfaction through excellent service, timely responses to queries, and proactive support.

• Relationship Building:

  Build and maintain strong, long-term relationships with key clients and stakeholders.

• Retention:

  Focus on retaining the allocated book of relations for the branch.