Area Manager - IMF & New Growth Initiatives
Date: Jul 4, 2025
Location: Ranchi, JH, IN
Company: maxlifeins
Job Description
Job Title Area Manager - IMF & New Growth Initiatives Location Multiple Locations (PAN India)
Department Agency Function Insurance Marketing Firm
Reporting to Deputy Regional Manager - IMF & New Growth Initiatives Band 4
Function Summary
IRDA Regulation on IMF was released on Jan 2015, where companies which are LLP / Pvt limited / cooperative societies were
allowed to distribute financial products. IMFs are allowed to deals in Insurance of 6 companies (2LI , 2GI , 2 HI), mutual funds,
banking products, post etc. Max life spotted this opportunity to attract established financial distributors from the market to
engage and distribute max life products – “PEARL ACQUISITION”. A dedicated team of 50 CDMs were recruited in two phases
and trained to hire & farm these relationships. Currently we have 95 licensed IMFs on board and expected to touch 150 which
are work in progress. The pool of IMF s primarily comprises of top Agents in Insurance, Wealth Managers, Loan DSA, CA, Ex -
employees from financial services with an existing customer base customer base. Present IMF carries avg. 2500 customers and
big turnover book. As a later part of Pearl acquisition strategy, Insurance Managers is a career option provided to establish
financial distributors who are not able to meet the requirements of forming an IMF. This has also proven to be an exciting
opportunity. Insurance Manager is part time employee model which provides a platform to the pearl to associate with MLI and
improve their earnings, flexible working hours and better choices to their customers. IM will be different from an ADM/APC as
he will not be recruiting and mentoring Agents and will only source business by penetrating into his existing client base. Avg
book size with them is also 750 customers.
Job Summary:
ü Implement the strategy to setup and develop the IMF Channel
ü Setup and manage a pool of 10-15 Insurance Marketing Firms
ü Managing a revenue stream of around 2 cr and ensure right product mix
Key Responsibilities/ Key Deliverables:
ü Understand the IMF regulation, value proposition & registration
process
ü Independently implement the IMF acquisition plan in the territory
· Identify potential leads and sources for
prospective IMF’s, coordinate with HO for
referred leads
· Connect with prospects & organize seminars
for IMF acquisition
· Ensure conversion of leads through effective
pitch of IMF value proposition
ü Ensure quality of IMF’s in sync with desired profile
ü Enable the setup of IMF of agreed prospects
· Understand all regulatory requirements and
manage the IMF registration process with IRDA
· Oversee technology support to enrolled IMF’s
ü Ensure seamless contracting of IMF’s with Max Life
ü Manage performance of setup IMF’s in steady state
· Develop understanding of products & coach
IMF staff on product USP’s
· Implement a performance management and
rewards system
· Drive IMF profitability through improving
productivity of IMF’s sellers & controlling cost
of sales
· Provide marketing, training and operational
support to IMF’s
· Manage attrition of IMF’s through revival or
replacement.
Measures of Success: ü IMF Acquisition ü Revenue ü IMF Activity & Retention ü Quality of Business
Desired qualification and experience · Educational Background: Preferably a graduate · Work Experience: At least 5-6 years of experience in Sales & Distribution, Key Account Management KNOWLEDGE / SKILLS / ABILITIES ü Excellent Written, presentation & communication skills ü Exceptional consultative & interpersonal skills ü Stakeholder management ü Full understanding / experience of handling partner ü Experience in managing strategic initiative s/ programs/ trainings ü Coaching the Partner employees
Job Description
Job Title Area Manager - IMF & New Growth Initiatives Location Multiple Locations (PAN India)
Department Agency Function Insurance Marketing Firm
Reporting to Deputy Regional Manager - IMF & New Growth Initiatives Band 4
Function Summary
IRDA Regulation on IMF was released on Jan 2015, where companies which are LLP / Pvt limited / cooperative societies were
allowed to distribute financial products. IMFs are allowed to deals in Insurance of 6 companies (2LI , 2GI , 2 HI), mutual funds,
banking products, post etc. Max life spotted this opportunity to attract established financial distributors from the market to
engage and distribute max life products – “PEARL ACQUISITION”. A dedicated team of 50 CDMs were recruited in two phases
and trained to hire & farm these relationships. Currently we have 95 licensed IMFs on board and expected to touch 150 which
are work in progress. The pool of IMF s primarily comprises of top Agents in Insurance, Wealth Managers, Loan DSA, CA, Ex -
employees from financial services with an existing customer base customer base. Present IMF carries avg. 2500 customers and
big turnover book. As a later part of Pearl acquisition strategy, Insurance Managers is a career option provided to establish
financial distributors who are not able to meet the requirements of forming an IMF. This has also proven to be an exciting
opportunity. Insurance Manager is part time employee model which provides a platform to the pearl to associate with MLI and
improve their earnings, flexible working hours and better choices to their customers. IM will be different from an ADM/APC as
he will not be recruiting and mentoring Agents and will only source business by penetrating into his existing client base. Avg
book size with them is also 750 customers.
Job Summary:
ü Implement the strategy to setup and develop the IMF Channel
ü Setup and manage a pool of 10-15 Insurance Marketing Firms
ü Managing a revenue stream of around 2 cr and ensure right product mix
Key Responsibilities/ Key Deliverables:
ü Understand the IMF regulation, value proposition & registration
process
ü Independently implement the IMF acquisition plan in the territory
· Identify potential leads and sources for
prospective IMF’s, coordinate with HO for
referred leads
· Connect with prospects & organize seminars
for IMF acquisition
· Ensure conversion of leads through effective
pitch of IMF value proposition
ü Ensure quality of IMF’s in sync with desired profile
ü Enable the setup of IMF of agreed prospects
· Understand all regulatory requirements and
manage the IMF registration process with IRDA
· Oversee technology support to enrolled IMF’s
ü Ensure seamless contracting of IMF’s with Max Life
ü Manage performance of setup IMF’s in steady state
· Develop understanding of products & coach
IMF staff on product USP’s
· Implement a performance management and
rewards system
· Drive IMF profitability through improving
productivity of IMF’s sellers & controlling cost
of sales
· Provide marketing, training and operational
support to IMF’s
· Manage attrition of IMF’s through revival or
replacement.
Measures of Success: ü IMF Acquisition ü Revenue ü IMF Activity & Retention ü Quality of Business
Desired qualification and experience · Educational Background: Preferably a graduate · Work Experience: At least 5-6 years of experience in Sales & Distribution, Key Account Management KNOWLEDGE / SKILLS / ABILITIES ü Excellent Written, presentation & communication skills ü Exceptional consultative & interpersonal skills ü Stakeholder management ü Full understanding / experience of handling partner ü Experience in managing strategic initiative s/ programs/ trainings ü Coaching the Partner employees