DVP/VP - Business Development (Life Insurance)

Role & responsibilities

The role is responsible for identifying, acquiring, negotiating, and onboarding new banking partners as distribution channels for life insurance products. The DVP/VP will drive strategic alliance development, enhance distribution growth, and contribute to long-term revenue expansion through bancassurance partnerships.

Key Responsibilities

Bancassurance Partner Acquisition

• Identify prospective banking partners across national, regional, cooperative and small finance banks.
• Develop a pipeline of potential bancassurance partnerships aligned with company strategy.
• Lead commercial discussions including revenue sharing, commission structure, operating model and resource commitments.
• Execute end-to-end onboarding including regulatory documentation, operational readiness and integration.

Strategic & Commercial Negotiation

• Lead contract negotiations with senior leadership of banks.
• Develop business proposals, business cases, and ROI evaluation.
• Own partnership commercials and regulatory compliance requirements.

Relationship Management

• Build long-term CXO-level relationships with bank leadership.
• Coordinate with legal, compliance, distribution, product and technology teams for partnership enablement.
• Ensure alignment of business expectations and delivery commitments.

Distribution Scale-up

• Enable activation plans, productivity ramp-up and sales enablement post onboarding.
• Drive joint business planning with partners.
• Monitor performance metrics and drive continuous improvement initiatives.

Market & Ecosystem Scanning

• Track bancassurance landscape, regulatory changes, and competitor partnerships.
• Identify market opportunities, new segments, and emerging banking institutions for alliances.

Preferred candidate profile

• MBA / Post-Graduation preferred.
• 12 to 18+ years of experience in Business Development experience in Insurance sector.
• Must have experience in Bancassurance channel acquisition or Alliances.
• Deep understanding of Indian banking ecosystem and regulatory environment.