The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned area by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning.
It also includes distribution building, retail development and recruitment of Agency Partner and Advisors.
Job Context \ Job Challenges:
About the Health Insurance Industry â
While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.
Market Opportunities â With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as ententions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.
About the Aditya Birla Health Insurance â
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 âHealth Insurance for Allâ, 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 customerâs experience of our proposition is continuous and seamless.
ABHIâs 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. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.
ABHICLâs vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Ensure budget capacitation of APs to induct them to the business work flows. | Hire qualified manpower of APs so that 100% FYP capacity of manpower is maintained & utilized at all times. Assist & guide the APs in proper recruitment of Agency Partner and Advisors. Monitor the status of the budgeted FYP capacity of APs vis-Ã -vis the actual strength on board on a regular basis. Ensure that the KPIs & targets of APs are properly communicated & understood. Ensuing that the goal sheet of the Agency Partner has properly been communicated and explained. Carry out goal setting of each individual APs for the month, quarter & year. Monitor & review the performance of APs on predefined parameters(GWP/NOP/Activation /Recruitment) & take timely corrective actions |
| KRA2 | Ensure training & development of the team to enhance performance and drive mentor/advisor retention | Collaborate with the Sales Training team to ensure that workforce is timely trained on products & processes as per the training plan. Ensuring attendance of trained advisor recruits in IRDA exams. Conduct extensive training on recruitment and selling skills to enhance productivity of Aps Monitor attrition of the sales team on a regular basis & ensure corrective actions are taken to arrest the same. |
| KRA3 | Achievement of Business Targets as set through and with the Team by meeting the functional goals set. | Monitor the performance of the APs on the predefined parameters GWP/NOP/Activization/Recruitment of mentors advisors) Ensure continuous acquisition of advisors by APs on a regular basis. 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 Agency partners by observing and demonstrating sales/recruitment calls. Ensure communication on goal sheets, contests, payouts etc are rolled out to advisors by APs and same is understood by them as well. Create effective engagement interventions at the branch level to ensure high levels of activity & delivery Ensure through continual communication & reviews that majority of the work force achieves their goal sheets & moves up the career ladder. Drive benchmarks & motivate mentors to achieve their goal sheet, seek promotion and earn incentives. |
| KRA4 | Identify business opportunities through market intelligence | Gain market intelligence & put in place strategies to GWP potential market. Ensure recruitment of advisors in the areas having unexploited potential |
| 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 | Relationship Management | Partner with other departments of ABHI to ensure sales support. Manage and resolve escalations. |
| KRA7 | Team Management | Ensure through continuous on the job training, skill enhancement of team Mentor, supervise and coach the team. Provide for on the job as well as classroom training for skill enhancement |
