Coverfox - Assistant Vice President - Business Development

About the Role:

We are looking for an experienced Business Development Manager to drive growth in our B2B/Corporate affinity insurance referral channel (Group Credit life, GTLI, GMC etc).

The ideal candidate will build and manage a strong network of referral partners (such as Insurers, NBFCs, banks, financial advisors or affinity partners) to generate consistent insurance business leads, while ensuring compliance, profitability, and long-term partner relationships.

Key Responsibilities:

- Identify, onboard, and manage referral partners (Insurers, NBFCs, banks, financial advisors, or affinity partners) to generate insurance leads across life, health, motor, or general insurance lines

- Develop and execute a referral channel strategy to meet monthly/quarterly business targets (premium, policy count, revenue)

- Build and nurture long-term relationships with key affinity partners and stakeholders to ensure sustained business flow

- Train and support affinity partner teams on product knowledge, pitching techniques, and lead conversion processes

- Track partner performance, lead conversion rates, and channel profitability; prepare regular MIS/reports for leadership

- Coordinate with internal underwriting, operations, and claims teams to ensure smooth policy issuance and partner/customer satisfaction

- Ensure all referral arrangements comply with IRDAI regulations and internal compliance guidelines

- Negotiate commercial terms, commission structures, and referral agreements with new and existing partners

- Identify new market opportunities, partnership models, and revenue streams within the referral ecosystem

- Resolve escalations related to partner queries, policy servicing, or commission disputes

Key Requirements:

- 6 - 12 years of experience in business development, channel sales, or partnerships within insurance, banking, or financial services

- Proven track record of managing referral/alliance partnerships and achieving sales targets

- Strong understanding of insurance products (life/health/general) and IRDAI regulatory framework for referral arrangements

- Excellent relationship management, negotiation, and stakeholder management skills

- Strong analytical skills with the ability to track performance metrics and present insights to leadership

- Self-driven, target-oriented, and comfortable working in a fast-paced, partner-facing environment

- Excellent communication and presentation skills

- Bachelor's degree required; MBA preferred

- Willingness to travel as needed for partner meetings and market expansion

- Existing network of contacts in BFSI/insurance ecosystem

- Experience working with Insurance company, insurance brokers, corporate agents, or bancassurance channels