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Renewbuy - Manager - Business Development

Renewbuy - Manager - Business Development

Renewbuy.comBanaras, India
30+ days ago
Job description

About RenewBuy

Launched in 2015, RenewBuy has rapidly emerged as India's 2nd largest Insure-Tech player.

We've revolutionized the insurance landscape by digitizing the consumer journey through a vast network of Agents, positioning us ahead of both traditional and digital competitors.

Offering Motor, Health, and Life Insurance, RenewBuy is on track to achieve a 2000 Cr annualized business, powered by a dynamic team of 2500+ employees across 50+ cities.

Recently, we secured USD 40 million in funding from Japanese insurance major Dai-ichi Life Holdings Inc., fueling our ambitious plans to expand to 1000+ locations and grow our agent base to 2 lakh on our platform.

Why This Job Is Amazing

This executive-level role at RenewBuy is for a strategic leader who will drive significant market expansion and channel growth within the Insure-Tech sector.

As a Business Development Manager - Agency, you will be responsible for architecting and executing the overall growth strategy for the agency channel in Varanasi, directly impacting our profitability and market leadership.

You'll lead a team, influence territory-level P&L, and refine your strategic business development skills.

This role offers unparalleled earning potential through performance bonuses tied to significant business outcomes.

Choosing RenewBuy means joining a hyper-growth company, building a career at the intersection of technology and strategic sales, and contributing to a team that values visionary ideas and intellectual courage.

If you have the passion, the proven ability to drive large-scale business development, and the ambition to make a transformative impact, join us.

Job Objective

To strategically develop, manage, and significantly expand the Individual Agency Channel (Motor / Health & Life) across the Varanasi territory, ensuring substantial business growth, optimal profitability, and effective leadership of the agent network.

This role demands a strong focus on new market penetration, P&L management, and strategic channel optimization.

Key Agency Channel Development & Expansion :

  • Architect and spearhead the strategic sourcing and onboarding of a high volume of quality POS agents, driving aggressive expansion of the agency channel in the Varanasi territory.
  • Design and implement comprehensive pre-licensing, training, and licensing frameworks, ensuring a robust and continuously growing agent pipeline.
  • Develop and execute advanced strategies to penetrate new market segments, identify untapped opportunities, and significantly increase the overall market reach.
  • Lead the analysis of competitor activities and market trends to position RenewBuy Agency Channel Management & Optimization :
  • Lead the monitoring and strategic management of agent performance, implementing data-driven approaches to optimize sales funnels, conversion rates, and overall agent productivity.
  • Develop and deploy robust strategies to maintain a high active percentage of POS agents and minimize attrition, fostering long-term agent loyalty and engagement.
  • Ensure exceptionally high productivity across the entire agent base and cultivate strong, profitable channel engagement.

P&L Management & Profitability :

  • Take direct ownership of achieving and exceeding the overall sales targets for Motor, Health, and Life insurance products from the agency channel in Varanasi.
  • Analyze complex market dynamics, identify growth levers, and provide actionable feedback for strategic improvements to senior management, directly influencing the channel's profitability and managing loss ratios.

    • Leadership & Mentorship :

  • Provide strong leadership, formal mentorship, and coaching to Sales Managers and agents within the territory, fostering a high-performance culture and ensuring continuous professional development.
  • Act as a subject matter expert, guiding the team on complex product queries, sales strategies, and market best practices.

    • Advanced Channel Servicing :

  • Oversee all aspects of partner account reconciliation, acting as a key liaison between agents and all internal departments (Operations, Finance, Product, Training) to ensure seamless support and issue resolution.

    • Compliance & Financial Hygiene Stewardship :

  • Ensure rigorous compliance with all external regulatory bodies and internal company policies across the entire agency channel operation.
  • Proactively manage and significantly reduce instances of cheque bounce recoveries and business pendency, upholding the highest standards of financial hygiene and operational integrity.

    • Strategic Contribution :

  • Contribute significantly to the design and implementation of new product portfolios in the market by collaborating with cross-functional teams.
  • Identify and implement process improvements across all stages of agency operations for better customer experience and stronger risk management.

    • Skills and Experience Required

  • Experience : 6-8 years of extensive and progressive experience in business development and sales leadership within the agency channel of the insurance sector, with a proven track record of significant channel growth and target achievement.
  • Strategic Acumen : Demonstrated ability to develop and execute complex business development strategies, identify new market opportunities, and drive channel expansion.
  • Leadership : Proven experience in leading, managing, and mentoring sales teams or large agent networks.
  • P&L Understanding : Strong understanding of P&L dynamics and ability to influence profitability.
  • Market Analysis : Excellent analytical skills to interpret market data, identify trends, and make informed strategic decisions.
  • Negotiation & Influence : Superior negotiation, persuasion, and stakeholder management skills.
  • Compliance Expertise : In-depth knowledge of insurance regulatory compliance and best practices.
  • Computer Proficiency : Advanced proficiency in CRM software, MS Office Suite, and sales analytics tools.

    • Ideal Candidate

  • A visionary and highly accomplished business development leader with 6-8 years of experience in agency sales, known for driving substantial growth and managing complex channels.
  • Possesses exceptional strategic thinking, problem-solving, and decision-making capabilities.
  • A natural leader with outstanding communication, interpersonal, and team-building skills.
  • Highly ethical, compliant, and committed to fostering a high-performance culture.
  • Driven by aggressive growth targets and a desire to make a significant impact on the organization's success

    • ref : iimjobs.com)

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