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Key Responsibilities
1. Relationship Management & Business Development
- Build, nurture, and strengthen relationships with key decision-makers in NBFCs and banks.
- Collaborate with Alliances Team, Project Management Team for activating new partnerships; deliver on business plan through new partnerships.
- Manage the complexity of Open Architecture within key partnerships listed above to ensure that Axis Max Life maintains dominant counter share. Drive sales team to counter stiff competition in open-architecture scenario through innovation, change management, digitalization & strategic initiatives.
- Deepening within Existing Partnerships / Increasing Share of Wallet by constantly identifying new business opportunities relevant to Group Credit Life insurance.
- Lead tough negotiations with GCL business partners on pricing, terms, commercials, product-mix, etc. to deliver VNB plan and YoY growth. Develop and implement strategies to grow premium & VNB and market share through NBFCs and banks.
- Formulation of credit life business strategy for key partnerships assigned in line with GCL Business & Organization’s over-all strategy. Deployment of strategy and attainment of Sales, NBM & VNB goals.
- End-to-End Management of business partner relationships – Strategy, Business Plan, Product & Marketing strategy for product, Drive field engagement initiatives and ensuring end-to-end customer service delivery
2. Portfolio Management
- Retain & Nurture Partnership amidst stiff competition. Manage the existing portfolio of NBFC and bank partnerships to maximize business growth and retention.
- Monitor partner performance, ensure adherence to service standards, and resolve any issues impacting partnership satisfaction.
- Drive expansion of credit life insurance schemes within partner portfolios.
3. Sales Enablement & Coordination
- Collaborate with internal teams such as underwriting, product, operations, and claims to ensure smooth onboarding and servicing of partners.
- Facilitate partner training sessions to improve product understanding and sales capabilities.
- Coordinate cross-functional efforts to support partner requirements and problem resolution.
- Create, lead and present in senior leadership external governance forums with key partners for periodic Governing Council Meetings /Business Review Meetings for driving key performance vectors such as Premium, Attachment Ratio, Value Penetration, Level Cover Share, Rider Attachment, Product-mix, etc. Internally driving Zone Heads & sales team. Effective usage of Analytics for driving key vectors & productivity
4. Market Intelligence & Strategy
- Stay updated with regulatory changes, market trends, and competitor activities affecting NBFCs and banks
- Co-create with HR, an optimum org structure for GCL-Key Partnerships, identify the right talent for various positions within the function. Enable training needs identification and drive employee training & development agenda. Oversee rewards and recognition policies for GCL business to ensure reinforcement of right behaviors among employees
- Scan external environment to keep abreast with advances in technology, product, process and talent capability and lead their implementation in own team. Proactively identify gaps and implement improvement initiatives & digitalization and deploy best practices to help drive productivity, sales model optimization
- Provide insights and feedback to product and marketing teams for continuous product improvement and market fit.
5. Compliance & Risk Management
- Ensure compliance with internal policies, regulatory guidelines, and risk management protocols in all partnership dealings.
- Maintain accurate documentation and reporting related to partner engagements.
6. Reporting & Analytics
- Provide regular reports on business performance, pipeline, and partner health to CXOs/senior management.
- Use data analytics to identify growth opportunities and risks within the portfolio. Analyze sales trend to take decisions for product refreshments / new product opportunities
- Analyze sales trend to take decisions for product refreshments / new product opportunities
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Key skills required
- Relationship Building & Networking
- Strategic Sales & Business Development
- Negotiation & Influencing
- Market Awareness & Competitor Analysis
- Customer Centricity
- Communication & Presentation Skills
- Team Collaboration
- Result Orientation
- Working with & through others - Coordination skills to manage interactions between various departments
- Superior MS Excel & MS PowerPoint skills
- Networking abilities and contacts in the local market an added benefit
Key Relationships Management (Internal /External)
External: New group credit life insurance partnerships
Internal:
- CDO – Max Life
- EVP & Head – Group Business & New Growth Verticals
- SVP & Business Head – Credit Life
- Head & Zonal Heads of BD/Alliances team
- Head – Program Mgt. – GCL Business
- Head – Group Operations, U/w & Claims
- Head-Training/DCC & Head-BPMA
- Head-Channel HR
- Legal & Compliance
- President/EVP & Business Heads of Business Partners (Eg: EVP & Head- LAP Loan – Axis Finance
- Head-Insurance/Head-TPP of business partners
- Underwriting, Product, Operations, Claims, Marketing teams
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