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