Aditya Birla Group
Job Description
Basic Details:Fill the required information about business, unit, location, position, reports to position and date of updation of JD |
Business |
Aditya Birla Capital |
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Unit |
Aditya Birla Health Insurance |
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Location |
Any |
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Poornata Position Number of the job |
Reports to: Poornata Position Number |
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Poornata Position Title of the job |
Business Development Manager/ Agency Manager/ Sr. Agency Manager/ Business Partner/Assistant Agency Manager |
Reports to: Poornata Position Title |
Branch Manager |
Function |
Sales & Marketing |
Reports to: Function |
Sales & Marketing |
Department |
Sales – Agency sales |
Reports to: Department |
Sales – Agency sales |
Designation of the Employee |
Executive – Assistant Manager |
Designation of the Manager |
Deputy Manager |
Date of writing/updation of JD |
October 2017 |
1) Job Purpose:Write the purpose for which the job exists (in 2-3 lines) |
The purpose of this job is to recruit quality advisors (freelancer) & support / train them to enable them procure health insurance policies from the market & subsequently service the customers. |
2) Job Context & Major Challenges:Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section |
About the Health Insurance Industry – While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them. Market Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as ententions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company. About the Aditya Birla Health Insurance – Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016. ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to.As the 6th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of Health Insurance for All, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer’s experience of our proposition is continuous and seamless. ABHI’s unique offering to market includes propositionincludes –
Challenges –
Distribution: How we create specific distribution models to penetrate different market segments remains a challenge. Motivation to channel partners to place business with the co. Activate and manage agent based distribution channel across the country Long term and short term strategic plans to increase the market share and profitability in line with the company’s business objectives. Identifying new segments, structure offerings, and value enhancers apart from creating differentiators remains a big challenge for the company’s growth. Meeting varied client’s expectation in terms of solutions, pricing and operational support remains a challenge. Build and further enhance relationships with key customers and partners alike. Build the vertical in line with the leadership teams expectation of having the group benefits team contributing substantially to the bottom-line in years to come Key Challenges for the role –
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4) Key Result Areas:Writethe key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas) |
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Key Result Areas |
Supporting Actions |
To recruit good quality prospective insurance advisors and ensure that they acquire licensing in order to achieve the sales target set by the company. |
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Ensure that the advisors achieve business targets set for them. |
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Provide on the job training & manage and monitor performance of Advisors so that they can achieve their goals. |
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Relationship Management |
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Maintain renewals for the policies procured by team of Advisors to overall achieve the profitability of the team. |
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