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, identifying & implementing sales strategies, monitoring people performance and market changes and ensuring timely operations support to ensure smooth functioning of the branches.To ensure delivery of unique consumer value proposition by ensuring enabling framework for the area sales force along with Sales Training, Product, Operations, HR & Distribution, strategy team.
Job Context / Job 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.
Key Challenges for the role -
. Creating and enticing value proposition in the distributor and consumer segment for a completely new concept and product in the market.
. Ensuring profitability and timely break-even in a cost driven market.
. Unavailability of skilled man power (BM/BH/AM/Support) in small towns
. Short gestation time to develop people because of fast business demand.
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Ensure budgeted capacitation at branches & achieve business targets assigned for the area through & with BM to meet the functional goals. | Ensure execution of an aggressive distribution creation strategy to acquire requisite number of productive agents from a crowded market to achieve targeted market penetration |
| KRA2 | Drive implementation of agency initiatives aimed at improving sales productivity across the assigned branches. | Ensuring sales progression of the regional sales by reviewing and Motivating team for setting higher performance standards |
| KRA3 | Maintain relationship with the top advisors of the branches/area to enhance motivation levels. | Regularly meet the top advisors of his branches/area. |
| KRA4 | Ensure Training & Development for the Sales Force in the assigned territory to enhance skill development. | Identify the training need & collaborate with the training team to ensure that the timely training of the Agency Managers |
| KRA5 | Track attrition and renewal to achieve business health for the area. | Ensure a high percentile of premium through analysis and product mix. |
| KRA6 | Ensure that business is done in ethical manner and customer's and organisation's objectives are met. | Ensure that the business activities are carried out as per the compliance & regulatory guidelines laid by the company |
| KRA7 | Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability for the assigned territory. | Enhance brand awareness in underdeveloped areas for future business |
| KRA8 | Maintain harmony with other departments for smooth functioning & better productivity of the area & organisation. | Have regular meetings/discussions with training / underwriting/client services/HR/Compliance /Planning & Finance to understand their expectations & share requirements. |
| KRA9 | Team Development | Ensure skill enhancement of team members through continuous on the job training. |
Area Manager-Agency-Ranchi • Ranchi, India
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