Strategy Lead - Bancassurance/Life Insurance

Purpose:

The role is responsible for conceptualizing & driving BSLI's Sales and Distribution Strategy for New Relationship. The role requires a very deep understanding of Bank's core functioning and business model so that he should be able to identify the opportunities available for cross sell of Life Insurance. The role requirement also includes an in depth understanding of the Bancassurance channel so that aligning the bank on Insurance company's objective should not be a challenge.

The other key demand of the role will be doing business planning and numbers projection basis a deep analysis of the bank's various business verticals, their business models, their existing customer base, their touch points with the bank, Relationship value of these customers, relationship vintage, number of resources deployed by the bank to cater to the need of these customers and the geography. All this needs to be done not in isolation but keeping in mind the industry performance as a benchmark.

Sales Management:

1. To manage P&L for the channel along with channel head and ensure course corrections and risk mitigations strategies are implemented in a timely manner.

2. To lead development of performance management systems for channel including SP, incentives and KPIs.

3. Initiate and implement corrective action basis various underlying trends of the MIS.

4. To continuously review Sales processes and improvise them basis evolving business needs.

Budgets:

1. Liaison with the organization & sales leadership to understand business plans and accordingly help in creating a roadmap for the budget for the year.

Targets/KPIs:

1. Analysis of data basis past trends, market /regulatory conditions on various business parameters and benchmark competition performance basis locations/vintage/FLS behaviour/market condition to arrive at business targets.

2. Finalization of the KPIs for all roles in New Relationship across country with the help of Sales leadership.

3. Publication of periodic dashboards and suggestions for corrective measures to the field force to cover up the gap on various business levers.