Deputy Area Manager - IMF & New Growth Initiatives

Job Description

Job Title Deputy Area Manager - IMF & New Growth Initiatives Location Multiple Location (PAN India)

Department Agency Function Insurance Marketing Firm

Reporting to Deputy Regional Manager - IMF & New Growth Initiatives Band 5B

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 Acquire annually 6 to 7 part time employees

ü manage a preallocated team of IM

ü Manage performance of IM’s

Key Responsibilities/ Key Deliverables:

ü Understand the IM acquisition and also IMF regulation,

value proposition & registration process

ü Acquisition of 6 - 7 IM’s in a year independently.

ü Independently managing a pool of Insurance Managers

mapped to them from existing pool in the beginning only.

ü Post successful completion of 1 year, the next level is CDM

wherein the focus will be on IMF journey

ü Manage performance of IM’s

· Develop understanding of products & coach IM

staff on product USP’s

· Implement performance management and

rewards system in IM’s.

· Provide marketing, training and operational

support to IM’s

· Manage attrition of IM’s through revival or

replacement

ü Drive quality of business sourced from IM’s

· Ensure right product mix and control key

quality measures such as leakage and

persistency.

Measures of Success: ü Minimum 6-8 IM Acquisition in a year ü Achieving sales target through team of IM’s ü IM Activity & Retention ü Quality of Business ü Create pipeline for IMF’s

Desired qualification and experience · Educational Background: Minimum a graduate · Work Experience: At least 1-3 years of experience in recruiting business partners / Agents and achieving sales target through them. · Good communication skill. KNOWLEDGE / SKILLS / ABILITIES · Excellent Written, presentation & communication skills · Exceptional consultative & interpersonal skills · Stakeholder management · Influencing without authority · Full understanding / experience of handling entire life cycle of a deal from initiation to successful completion

About Axis Max Life Insurance

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services

Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance

solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two

decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As

per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr. For more

information, please visit the company website at www.maxlifeinsurance.com.

#ComeAsYouAre LGBTQIA+ and PwD candidates of all ages are encouraged to ap

Job Description

Job Title Deputy Area Manager - IMF & New Growth Initiatives Location Multiple Location (PAN India)

Department Agency Function Insurance Marketing Firm

Reporting to Deputy Regional Manager - IMF & New Growth Initiatives Band 5B

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 Acquire annually 6 to 7 part time employees

ü manage a preallocated team of IM

ü Manage performance of IM’s

Key Responsibilities/ Key Deliverables:

ü Understand the IM acquisition and also IMF regulation,

value proposition & registration process

ü Acquisition of 6 - 7 IM’s in a year independently.

ü Independently managing a pool of Insurance Managers

mapped to them from existing pool in the beginning only.

ü Post successful completion of 1 year, the next level is CDM

wherein the focus will be on IMF journey

ü Manage performance of IM’s

· Develop understanding of products & coach IM

staff on product USP’s

· Implement performance management and

rewards system in IM’s.

· Provide marketing, training and operational

support to IM’s

· Manage attrition of IM’s through revival or

replacement

ü Drive quality of business sourced from IM’s

· Ensure right product mix and control key

quality measures such as leakage and

persistency.

Measures of Success: ü Minimum 6-8 IM Acquisition in a year ü Achieving sales target through team of IM’s ü IM Activity & Retention ü Quality of Business ü Create pipeline for IMF’s

Desired qualification and experience · Educational Background: Minimum a graduate · Work Experience: At least 1-3 years of experience in recruiting business partners / Agents and achieving sales target through them. · Good communication skill. KNOWLEDGE / SKILLS / ABILITIES · Excellent Written, presentation & communication skills · Exceptional consultative & interpersonal skills · Stakeholder management · Influencing without authority · Full understanding / experience of handling entire life cycle of a deal from initiation to successful completion

About Axis Max Life Insurance

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services

Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance

solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two

decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As

per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr. For more

information, please visit the company website at www.maxlifeinsurance.com.

#ComeAsYouAre LGBTQIA+ and PwD candidates of all ages are encouraged to ap