Assistant Branch Manager

Job Purpose

ABM-Rajkot

Job Context & Major Challenges

Job Context / Job Challenges

About the Aditya Birla Health Insurance-

Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016. ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of Health Insurance for All, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer's experience of our proposition is continuous and seamless.

ABHIs unique offering to market includes proposition includes -

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.

Challenges –

Distribution reach will be the key to future growth acceleration for insurance companies as existing geographies get saturated and the focus shifts to new under penetrated geographies. Effective distribution reach into newer geographies, alternate distribution channels, innovative products, targeting new segments are the major challenges in this industry and will be the key drivers in the future. While companies are planning to double their agency network over the next 2 years, the overall industry life agency workforce attrition rate ranges between 50-55% which is significantly high. Hence the key challenge to recruit qualified insurance agents, especially in the semi-urban / rural markets and also to combat the increasing attrition rate particularly when new players are entering the market

Distribution: How we create specific distribution models to penetrate different market segments remains a challenge. Motivation to channel partners to place business with the co. Activate and manage agent based distribution channel across the country

Key Challenges for the role-

As the business is quite manpower intensive, hiring & retaining the right resources given the limited availability of quality talent and stiff competition is a stiff challenge

Delay in completion of business during month end as it involves the long process to issue the policy (starting from policy receipting, scanning, completing requirement, medical follow ups and finally the completion).

Since health business is purely retail, maintaining daily rhythms and adding value every day to engage FLS/advisors so that they do required inputs as per the sales process is a challenge.

Considering FLS quality and delivery timelines, coaching, handholding and developing a new FLS takes lot of time and energy.

Infrastructure constraints

Driving a balanced business growth in order to achieve the sales goals in alignment with mandated/desired market conduct and quality of business.

Recurrent changes in regulatory environment and consequently changed product portfolios requiring strategic & tactical changes in selling techniques/pitch

Managing expectations of high performers: high performers expectation rises every year and to satisfy it, by getting innovative ideas is a biggest challenge

Driving high rates of YOY renewals in turbulent market conditions

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Ensure budgeted capacitation of FLS & achieve assigned business target by ensuring performance of assigned FLS with respect to recruitment of Advisors & achievement of business targets. Recruit quality resource

Ensure performance standards of recruitment, activation, policies & premium are met by the assigned FLS

Maintain the profitability of the branch

Keep track on Advisors Contest and Clubs.

Keep track on various training needs.

Sharing good sales practices.

Mentor, coach, and handhold FLS by observing and demonstrating sales/recruitment calls.

Maintain the Sales Report on Introduction and Issued Business

Create effective engagement interventions at the branch level to ensure high levels of activity & delivery

Conduct periodic reviews to monitor the key business levers and take corrective action where necessary

Carry out goal setting exercise with his team enabling the FLS team to deliver the expected productivity & subsequently leading the team to progress to next progression level.

KRA2 Drive implementation of agency initiatives aimed at improving sales productivity across all FLS. Ensure daily adherence of sales process by way of effective planning and review.

Ensuring sales progression of the FLS by reviewing and Motivating team for setting higher performance standards

Driving activities leading to maximum FLS incentive earning.

KRA3 Ensure renewal targets are met and business health for the allotted branch so that functional goals are achieved. Manage sales force attrition as per bench mark.

Maintain quality of business for better renewals.

KRA4 Relationship Management (Internal & External) to drive performance. Maintain healthy & cordial relation with team of Agency Managers as well as all concerned departments.

Maintain one to one contact with all advisors.

Ensure reaching of communication to the advisors of his team about new product, schemes, clubs, etc. (using FLS as key point of contact).

Visit top advisors in regular intervals.

KRA5 Drive local sales promotion effort for to support team members in achieving business targets Anticipate sales promotion opportunities in the area of operation and devise innovative promotional activity.

Driving various contests

KRA6 Ensure Risk Management as per company policy. Be responsible for the market conduct of the assigned agency managers and the advisors in their team

Carrying out the business activities as per the compliance & regulatory environment.

Ensure (by doing basic screening & basic sanity checks) the applications that healthy

KRA7 Ensure compliance objectives and regulatory norms are achieved as per defined organizational guidelines. Ensure communication of compliance norms to all concerned employees

Develop deviation metrics and take appropriate actions for deviations

KRA8 Identify and develop a team of sales professionals for the branch Coach and Develop team members

Build People capability

Develop a second line of leaders within the Branch FLS Team