Job Title

Circle Head - AXIS

Function

Sales

Department

Axis Bank Relationship

Reporting To

(Title)

Zonal Head Axis

Superiors Superior

(Title)

Relationship Head Axis

Unit

Aditya Birla Sun Life Insurance Ltd

Location

PAN India

Business

Aditya Birla Capital

Date

1^stMarch 2024

1) Job Purpose

To build and maintain strong progressive partnership with the Bank in the assigned Cluster by supporting and contributing to bank partners strategy adhering to the banks norms and agreed guidelines achieving operational excellence thereby delivering best in class pre and post sales and support services ensuring speed in delivery and achieving ABSLIs business targets and promoting business growth.

2) Dimensions

What are the areas (in quantitative terms) the job has an impact on

Dimension

Remarks

1.

Manpower

Spread across the dedicated Circle

2.

Branch Spread

Retail

Job Context:

Bancassurance is the insurance distributionmodel wherein the bank allows an insurance company to sell its products to the banks client base. ABSLI tied up with Axis Bank in March 2024 to sell its insurance products through the Branch Banking Channel.

Open Architecture model empowers the customers now to select their Life insurance plans from more than one insurer as per their choice at competitive prices. It also lowers chances of Mis selling with the intervention of multiple regulators like Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (IRDAI).

4) Principal Accountabilities

Business Targets To achieve Business Targets on focused Business parameters like premium SP/branch activisation product mix and Persistency thereby contributing to the overall Business Growth and profitability.

1. Build effective relationship with the bank partner and become their first preferred insurer
2. Plan and achieve business targets through the team of CM FLS and SPs in the bank
3. Ensure to increase SP Activisation and selling of greater NOPs through the Team of CM and FLS for greater distribution of ABSLI products
4. Ensure selling of right Product Mix as defined by the organisation to achieve overall business growth and profits.
5. Identify and implement new business opportunities within the allocated area to enhance penetration
6. Implement activities / programs designed at the organisational level to build great visibility promote branding and strengthen our relationship with the bank.
7. Train and appraise the bank staff on ABSLI products thereby creating a mind space and easy recall for them.
8. Ensure right method of business acquisition and absolutely 0 % mis selling

Pre and Post-Sales Support and Service:To provide efficient and best in class competitive products and services to both the Bank partner and customers

1. Enable the Team of CM to train FLS in order to independently sell ABSLI products by mapping customer needs correctly
2. Support the team of CM and FL on closing critical Sales call by demonstrating and mentoring them.
3. Support and guide the CM Team to ensure smooth functioning of the internal cross functional Teams and help them to overcome any roadblocks in policy logging and issuance
4. Train the team of CM and FLS to carry out end to end process of policy logging and issuance first time right to ensure speedy delivery and 0% leakage
5. Establish efficient methods to respond to customer queries and maintain persistency levels.
6. Enable Team to cross sell and Upsell ABSLI products as per the customer requirements

Partner relationship Management:To build and strengthen the relationship with the partner bank and become their preferred partner

1. To be equipped with Banks product ranges and their key features along with the ABSLI products
2. Develop a Team who can support the bank in meeting their business targets
3. Pay regular visits to bank branches and meet bank partners.
4. Design differential strategies to gain mindshare and product mix basis the potential of the branch
5. Help the Bank branches to increase their overall LI pie
6. Liaison with our Regional and Zonal Training Team and ensure periodic product training and branding within the branch for bank staff as well as CM and FLS Team
7. Design and launch various training programs and appreciation platforms for the bank staff to achieve higher engagement

People Development:To build a highly motivated and productive team.

1. Attract Recruit and Retain Talent in the market ensure proper handholding and support is provided to the Team.
2. Review and Monitor Teams performance daily mentor the CM and FLS in the Middle and Low Performance Bucket encourage and motivate to do well.
3. Co-create and implement recognition platforms in order to build a capable and motivated team within the Circle
4. Ensure to provide constructive and efficient feedback to the Team and boost their morale for sales
5. To ensure performance spread in the Team thereby creating opportunities for qualifying various R and R contests and initiatives as well as enabling team members to earn incentives and stay motivated.

Focus on Business Quality and Profitability Achieve Business profitability by focusing on renewals quality of business and managing costs

1. Ensure achievement of profitability and persistency targets for the relationship in the designated zones
2. Manage expenses within allowable expense gap
3. Plan and manage the renewals and ensure adequate focus is maintained by the sales Team on persistency
4. Ensure Business Leakage is within allowable limits.
5. Focus and Monitor Product Mix within the Circle to achieve Channel Targets

5) Job Purpose of Direct Reports

To represent ABSLI at the designated branches and is responsible for sales performance acquisition of new business and relationship management in the assigned area / branches.

Internal

Frequency

Nature

CM & FLS (Team)

Training Team

Operations

HR

Daily

As and when required

Daily

Regularly

Reporting Coaching Counselling Review their Sales Calls etc.

Discuss training and counselling needs for the Circle and co-create interventions

Collaborate for policy log in and issuance

Hire Retain Counsel Team Members on various issues

External

Frequency

Nature

SPs

Branch manager

Cluster Head

Regularly

Regularly

Regularly

Connect & Encourage

Relationship Building Discuss new products and their features

Collaborate to meet Business Targets solve any issues respond to any escalations by the bank

7) Organizational Relationships

SIGN-OFF

Signature

Name

Date