Channel Manager- Gen. & Health Bancassurance With A Leading, Mumbai

Hiring for A Leading Private Sector Bank

5 - 10 Years

Job Description

Job Title-Channel Manager- Gen. & Health Bancassurance

Role & Responsibilities

  • Increase penetration to bank customer base, by leveraging across banking channels and customer interfaces
  • Agreeing annual budgets for each channel at broad channel level and resource level as per their potential.
  • Keeping the insurance co. partner in sync with agreed numbers at channel level
  • Submitting agreed numbers at channel / insurance co. level to finance
  • Keeping track of each channel and their resource for their achievement towards planned numbers.
  • Overachieving defined targets and ensuring maximum no. of resources achieve their monthly and annually planned targets.
Channel Management

  • Ensuring each channel agree insurance premium mobilization as per their potential
  • Tracking channel performance with business analysis reports
  • Facilitation with tools, training programs, certification drives, DYKs etc. to ensure sales process easy.
  • Visiting / meeting / con-call at various hierarchy level to strategize and achieve business numbers at channel level.
  • Ensure adequate support/identify support gaps is given to channels from the Vendor/support teams to enable them deliver their plans
Regulatory Compliance & Audit

  • To ensure Bank meets the Audit, Compliance & Regulatory requirements that specified from time to time
  • To ensure timely & accurate submissions to the regulator during half-yearly submissions or any other ad-hoc requirements
  • To ensure adequate level of IRDA certification across all channels
  • To periodically review the existing products and business process to identify gaps and ensure compliance.
  • To monitor all complaints received through all mediums & ensuring through investigation and timely closure.
  • Timely guidance for investigation & closure of complaints
  • To ensuring that Complaints register is regularly updated & ready for regulatory reporting.
Vendor Coordination

  • Distribution tie-up with health n gen. insurance vendors as per requirement, banks potential and capability of the insurance co.
  • Bringing clarity among insurance vendors about sales plans, channels allocation, distribution of products etc.
  • To hold Weekly reviews with the vendor to discuss on the Business strategies & plans
  • To highlight & represent the issues/support requirement of the Bank and ensure timely closure
  • To ensure timely Commission payouts, commission reconciliation & tracking outstanding payouts.
Product Innovation & Quality
  • Benchmarking with competition, market share and enabling product USPs, in collaboration with insurer, as per requirements Monitoring feedback and implementation of reverts for enhancements.
  • Monitoring of business leakages with insurer and channels
  • Maintaining best in class persistency / renewal rate for respective product portfolio and channel.
Systems & Processes and Mktg.

  • Ensuring process notes, and approval from board and related stakeholders, within the bank. Ongoing process support to channels.
  • Designing and implementation of the sales process, for each channel, in collaboration with the insurer.
  • Smooth interdepartmental integration process with each business channel and with support channels like operations and technology.
  • Collaboration with technology teams to enable sale thru net-banking channel
  • New business sourcing/ increase penetration, thru various digital & STP platforms
  • Centralized customer campaigns, basis analytical inputs

Salary: Not Disclosed by Recruiter

Industry:Banking / Financial Services / Broking

Functional Area:Financial Services, Banking, Investments, Insurance

Role Category:General Insurance

Role:Sales/Business Development-Manager


Desired Candidate Profile

Please refer to the Job description above

Company Profile

RiverForest Connections Private Limited

A Leading Private Sector Bank
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Recruiter Name:Ms Nisha

Contact Company:RiverForest Connections Private Limited