Area Manager - IMF & New Growth Initiatives
Area Manager - IMF & New Growth Initiatives
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
Job Description
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:
Implement the strategy to setup and develop the IMF Channel
Setup and manage a pool of 10-15 Insurance Marketing Firms
Managing a revenue stream of around 2 cr and ensure right product mix
Key Responsibilities/ Key Deliverables:
Understand the IMF regulation value proposition & registration
process
Independently implement the IMF acquisition plan in the territory
Identify potential leads and sources for
prospective IMFs 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
Ensure quality of IMFs in sync with desired profile
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 IMFs
Ensure seamless contracting of IMFs with Max Life
Manage performance of setup IMFs in steady state
Develop understanding of products & coach
IMF staff on product USPs
Implement a performance management and
rewards system
Drive IMF profitability through improving
productivity of IMFs sellers & controlling cost
of sales
Provide marketing training and operational
support to IMFs
Manage attrition of IMFs through revival or
replacement.
Measures of Success: IMF Acquisition Revenue IMF Activity & Retention 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 Excellent Written presentation & communication skills Exceptional consultative & interpersonal skills Stakeholder management Full understanding / experience of handling partner Experience in managing strategic initiative s/ programs/ trainings 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:
Implement the strategy to setup and develop the IMF Channel
Setup and manage a pool of 10-15 Insurance Marketing Firms
Managing a revenue stream of around 2 cr and ensure right product mix
Key Responsibilities/ Key Deliverables:
Understand the IMF regulation value proposition & registration
process
Independently implement the IMF acquisition plan in the territory
Identify potential leads and sources for
prospective IMFs 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
Ensure quality of IMFs in sync with desired profile
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 IMFs
Ensure seamless contracting of IMFs with Max Life
Manage performance of setup IMFs in steady state
Develop understanding of products & coach
IMF staff on product USPs
Implement a performance management and
rewards system
Drive IMF profitability through improving
productivity of IMFs sellers & controlling cost
of sales
Provide marketing training and operational
support to IMFs
Manage attrition of IMFs through revival or
replacement.
Measures of Success: IMF Acquisition Revenue IMF Activity & Retention 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 Excellent Written presentation & communication skills Exceptional consultative & interpersonal skills Stakeholder management Full understanding / experience of handling partner Experience in managing strategic initiative s/ programs/ trainings Coaching the Partner employees
Required Experience:
Manager
Employment Type
Full Time
