Max Life Insurance - Zone Head - Business Development

Job Summary

Responsible for partnering with Head Business Development in co-creating the new account acquisition strategy for the zone with focus on Banks, Non Bank partners and other innovative channels. This will include:

i. Building relationships with target list of banks & select non bank institutions in the assigned geography

ii. Proactively engage with Banks & select non bank institutions to identify partnership opportunities for bancassurance & group business

iii. Lead engagement activity for opportunities in the Open Architecture framework for Banks

iv. Mapping prospective accounts, building & sustaining relationships with key people in the prospective organizations

v. Designing acquisition pitches, responding to Bank RFP documents, compensation design, legal agreements etc

Key Responsibilities

Business Development

- Mapping of Bank & Non Bank relationships, prospecting and acquisition for Max Life

- Identifying new distribution models

- Creating and maintaining database of prospects

- Qualifying prospects basis business potential and support required

- Building relationships with key personnel in prospects and competition accounts

- Understanding in depth business models for life insurance in Banks

- Responding to complex RFP documents independently

- Creating value proposition for prospects and designing pitch presentations

- Create pitch presentations & Commercial Proposals

- Business modeling & sales process design

- Publishing timely reports on prospect status

- Build visibility for MLI in the Bancassurance Space

Other key activities

- Front ending all licensing, agreements and set up formalities along with central BD team

- Design SLA with business partners and ensure adherence for new accounts

- Adherence to internal policies & procedures

Competition Mapping

- Tracking competition strategies in the Third party space including banks

- Understanding competition acquisition strategies type of sales models, compensation models, support structures etc

- Publishing periodic reports on the channel

- Suggest improvements if any

- Collate competition information on their fulfillment strategies for key accounts and help create MNYL counter strategies

- Ensure compliance with IRDA guidelines on new account acquisition