Territory Sales Manager

ROLE SUMMARY (PURPOSE)

The Territory Sales Manager role shall lead development and operations within the respective territory assigned (5-7 Zones), driving revenue growth and market expansion for the insurance products offered by Muthoot FinCorp. The primary responsibilities include strategizing, overseeing sales teams, nurturing client relationships, ensuring compliance, analyzing market trends, and collaborating cross-functionally to achieve sales targets. This role demands strong leadership, sales acumen, market insights, and a commitment to delivering exceptional customer service while adhering to regulatory standards in the dynamic insurance landscape of India.

KEY RESPONSIBILITIES

Recruit, train, and manage a team of Regional Managers within the territory; provide necessary guidance and training to achieve business objectives.

Expansion, growth, and development

Develop and execute effective sales/business development strategies to meet targets and expand the customer base within MFL branches of the assigned territory.

Setting sales targets for the team and monitoring their progress, taking corrective actions when necessary to ensure objectives are met.

Evaluate the effectiveness of sales strategies and make necessary adjustments.

Drive customer satisfaction and retention initiatives within the territory.

Align product and marketing strategies to the developmental objectives of the territory

Conducting market research and competitor analysis to identify opportunities for growth, staying updated on industry trends, and reporting findings to higher management.

Collaborate with marketing teams to design and execute promotional campaigns.

Stay updated on industry trends, products, and developments in the insurance sector.

Represent the company at industry events, conferences, and networking opportunities to enhance brand visibility.

Compliance, Reporting and Financials

Ensure compliance with regulatory requirements and company policies in all sales activities.

Generating reports on sales activities, revenue, expenses, and other relevant metrics for review by management.

Regularly evaluating the team's performance, providing feedback, and implementing strategies for improvement.

Manage budgets, expenses, and revenue forecasts for the territory.

Stakeholder Management

Drive initiatives to increase lead generation and/or conversion from the retail business team.

Train, mentor, and coach the branch business employees on various products, processes, and procedures for increasing sales performance.

Resolving customer complaints and issues promptly, maintaining a high level of customer satisfaction.

Coordinating with other departments such as marketing and claims to enhance overall business operations.

KEY INTERACTIONS

Internal Stakeholders

External Stakeholders

Branch Team

Marketing Team

Senior Management

Operations Team

Finance Department

Clients

Insurance Companies

Regulatory Authorities

Competitors

Industry Networks and Associations

Participation in industry events, networking, and collaborations.

Prospective Clients

KEY ROLE DIMENSIONS

Portfolio Size/Sales Volume - (Mention the approximation here)

Geographical Coverage Kerala, Tamil Nadu, Andhra Pradesh, Telangana, and East (2400 branches in Territory 1)/Karnataka, West, and North Zones (1400+ branches in Territory 2)

Number of direct reports 25 to 30 Nos

EDUCATION / EXPERIENCE

Education A bachelors or masters degree in business administration or finance or a related field is preferred.

Professional certification in insurance or relevant fields would be an added advantage.

8 - 12 years of experience in managing a large team in bancassurance or direct sales in Insurance, bank or NBFC is required.