Business Development Manager - Group Business - Ahmedabad

Job Description

JOB PURPOSEThis position would be responsible for ensuring the desired business objectives across the territory assigned for the offerings of group benefits comprising of GTL , EDLI , voluntary , FSG , Affinity and creditor. The role also ensures effective engagement with the partners concerned and building of the relationships with them.2) DimensionsWhat are the areas (in quantitative terms) the job has an impact on DimensionRemarks1.Targets for the verticalProcurement of @Rs. 6 Crore in group benefits business for the territory assignedAchieve the said targets that will aid in achievement of overall group business targets and overall targets for BSLI as well2.Partner engagement & activityTo look at building the quality of the engagement with the partners assigned and an overall aim of increasing the quote activity by 20 %Managing the various people across the partners and managing the relationship on a daily basis given the dynamics of the business.3.Direct AccountsTo overall look at the contribution of policies sourced at 15 % as part of the overall policies sourced.Make a focussed effort to improve the dependence on the brokers by building on the direct accounts portfolio.4.New relationships acquiredTo look at 20 new relationships being acquired through the yearA focused plan to increase the new relationships to be acquired.3) JOB CONTEXT & MAJOR CHALLENGES(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone Key Challenges for the rolePartners: Given that close to 90 percent of the activity in terms of the deals coming in the market to be fought are from our partners, working with them in terms of structuring their payouts gets to be a challenge. There are peers in the market who adopt aggressive payout strategies whether it be a new business or it be a renewal and have a faster turn-around process for the same to be remitted. Besides this, they keep doing off-sites at local levels for the team players and hence that gets them a marginal head start. Hence these factors have to be taken into account and managed accordingly.Often brokers / customers come up with unreasonable demands of either a quote being reduced substantially or some changes within a very short period of time. Coordinating the same internally with the various support functions like the support team, actuarial team, operations team to ensure that the customer can reasonably get a solution which would meet his expectations remains a key challenge.4) PRINCIPAL ACCOUNTABILITIESAccountabilitySupporting ActionsEnsure achievement of business targets for the partner / territory assignedIdentification of the brokers / partners where the real opportunity exists and then working with them to address their support requirements to see we meet our plans.Look at gathering competitive information on why we are winning business or equally not winning business and working with the supervisor to look at how best we could correspondingly respond or to go back to the partner / customer with a logical reasoning to the extent possible of why the same would not be possible.Undertake relevant initiatives around business development, market intelligence and pipeline buildingIdentify business opportunities Track competition movements, wins/losses to ensure higher market share for BSLICarry out relationship building with key current and prospective clientsBuild relationships through common interests, market knowledge, likes and dislikes with regards to key decision makers and influencers in a prospectManage multiple relationships in a single account Partner EngagementUnderstanding the main brokers in the territory assigned to him / her and importantly the key decision makers / influencers in the relationship.Proactively working with the partners on their upcoming mandates and understanding in advance on what would be the key parameters for the business to shift to BSLI.MIS capturing of the activity and using it effectively to work with the partner to highlight the cases being lost and equally importantly highlighting to the relevant internal people on how the business with the partner is moving.New accounts sourcedWorking with partners and customers alike to ensure that the requisite numbers of new accounts are sourced.Service support & renewal persistencyWorking with the service team to support them wherever it is needed on a customer account sourced by them and jointly working with them to ensure that the renewal persistency remains at the desired levels.Qualifications:Any GraduateMinimum Experience Level:3-4 Years

Keyskills :
salessales operations