Kotak Life Insurance

Bancassurance Sales Manager

Kotak Life Insurance
Manglore,Chennai,Bangalore
Not disclosed
1 - 6 Years
Posted:
30+ days ago
Full time
Applicants:
0
Job Description

The Bancassurance Sales Manager is responsible for driving sales and revenue growth by managing and expanding the distribution of insurance products through banking channels. This role involves building strong relationships with bank partners, training and motivating bank staff, and executing strategies to meet sales targets. The Bancassurance Sales Manager will also be responsible for managing a team of sales representatives and ensuring that customers receive tailored insurance solutions that meet their needs.

Key Responsibilities:

  1. Sales Strategy Development:
  • Develop and implement sales strategies to achieve business goals and maximize revenue through bancassurance channels.
  • Work closely with the bank’s leadership and relationship managers to align sales objectives and identify cross-selling opportunities.
  • Ensure the execution of sales plans to increase penetration of insurance products among existing and new banking customers.
  1. Team Management & Training:
  • Lead, mentor, and manage a team of sales representatives or bancassurance advisors to meet and exceed targets.
  • Conduct regular training sessions to educate bank staff about the company’s insurance products and sales techniques.
  • Motivate and guide the sales team to improve performance and achieve individual and team sales targets.
  1. Relationship Management:
  • Build and maintain strong relationships with bank partners, branch managers, and relationship managers to enhance collaboration and ensure smooth operations.
  • Foster long-term relationships with key clients to encourage repeat business and referrals.
  • Act as a liaison between the insurance company and the bank to streamline processes and address any concerns or issues.
  1. Sales Target Achievement:
  • Monitor and track the sales performance of bank branches and sales representatives.
  • Implement strategies to improve sales conversion rates and overall sales performance.
  • Prepare regular reports and updates for senior management regarding sales progress, challenges, and market trends.
  1. Product Knowledge & Customization:
  • Ensure in-depth knowledge of the company’s insurance products and their benefits to provide suitable solutions for clients.
  • Assist the sales team in identifying clients’ needs and matching them with the right insurance products.
  • Customize product offerings and promotions to align with customer segments and the banks client base.
  1. Market & Competitor Analysis:
  • Conduct regular market research to identify trends, customer needs, and competitor activities.
  • Leverage market insights to recommend changes in product offerings, pricing strategies, and promotional campaigns.
  1. Compliance & Regulatory Adherence:
  • Ensure all sales activities comply with regulatory standards and company policies.
  • Stay up-to-date with industry regulations and trends to ensure that the banks insurance offerings are compliant.
  • Maintain proper documentation for all sales transactions and customer interactions as per company guidelines.
  1. Client Acquisition & Retention:
  • Lead client acquisition initiatives through the bancassurance model, focusing on both new customers and existing banking clients.
  • Develop and implement retention strategies to maintain strong customer loyalty and prevent policy lapses.
  • Provide exceptional customer service to resolve any concerns and ensure client satisfaction.

Qualifications:

  • Bachelor’s degree in Business, Finance, Marketing, or a related field (Master’s preferred).
  • Proven experience (5+ years) in sales, particularly in the bancassurance, insurance, or financial services industry.
  • Strong understanding of insurance products and sales techniques.
  • Prior experience in managing sales teams and achieving sales targets.
  • Familiarity with banking systems and processes is highly preferred.
  • Certification or license in insurance sales (e.g., IRDAI certification in India) is an advantage.

Skills & Attributes:

  • Leadership: Ability to lead, inspire, and manage a team to achieve sales targets.
  • Sales Orientation: Proven track record of success in sales, with the ability to drive business results.
  • Relationship Building: Excellent interpersonal skills to develop strong relationships with bank partners and clients.
  • Negotiation Skills: Ability to negotiate and close deals effectively while maintaining a focus on customer needs.
  • Analytical Thinking: Strong ability to analyze market trends, competitor activity, and sales data.
  • Communication Skills: Clear, persuasive communication and presentation abilities.
  • Customer Focus: A commitment to delivering high levels of customer service and satisfaction.
  • Compliance Knowledge: Familiarity with insurance regulations and industry standards.

Why Join Us?

  • Opportunity to work in a dynamic and growing sector within the financial services industry.
  • Competitive salary and attractive incentive structure.
  • Career growth and development opportunities within the organization.
  • Collaborative and supportive team environment.
  • Access to ongoing training and development to stay updated with the latest industry trends and products.


About the company

Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the fastest growing insurance companies in India with 303 branches across 146 cities and has covered more than 5 crore active lives as on 31st August 2024.

Job Requirment
Role:
Bancassurance Sales Manager
Industry:
Insurance
Department:
BFSI, Investments & Trading
Employment Type:
Full time
Education
Graduate
Skills
Insurance
Agency sales
Direct Sales
Banca
Life insurance
Bancassurance
Direct Sale
Share this job:
Similar Jobs
ALLIANZ SERVICES PRIVATE LIMITED
Hiring For Relationship O...
ALLIANZ SERVICES PRIVA...
Bangalore
0 - 2 Year
Full time
Posted:
30+ days ago
MD India Health Insurance TPA Pvt Ltd
Operation Executive
MD India Health Insura...
Panaji
0 - 3 Year
Full time
Posted:
30+ days ago
Club Oxygen
SE ( Sales Executive
Club Oxygen
Madurai, Vijayawada, Tiruchirappalli, Salem, Jaipur, Jodhpur, Kota, Mumbai, Kannur, Kanpur, Palakkad, Rajahmundry, Lucknow, Kollam
0 - 5 Year
Full time
Posted:
30+ days ago
Mistay
Customer Experience Champ...
Mistay
Bangalore
0 - 4 Year
Full time
Posted:
30+ days ago
Equitas Small Finance Bank
Customer Service Officer...
Equitas Small Finance ...
Bangalore, Tumkur
0 - 4 Year
Full time
Posted:
30+ days ago
Next Learn Technologies
Customer Support
Next Learn Technologie...
Pune
0 - 2 Year
Full time
Posted:
16 days ago
Phonepe
Specialist, Mutual Funds
Phonepe
Bangalore
0 - 2 Year
Full time
Posted:
30+ days ago
Regalo Kitchens Pvt Ltd
Business Development Exec...
Regalo Kitchens Pvt Lt...
Bangalore, Delhi, Jaipur, Chandigarh, Ludhiana
0 - 0 Year
Full time
Posted:
14 days ago
Xceedance
Underwriting Analyst
Xceedance
Bangalore
0 - 0 Year
Full time
Posted:
30+ days ago
Phonepe
Advisor, ONDC
Phonepe
Bangalore
0 - 2 Year
Full time
Posted:
30+ days ago
Global Talent Track
Customer Support Executi...
Global Talent Track
Pune
0 - 3 Year
Full time
Posted:
30+ days ago
Kotak Life Insurance
Hiring For @Direct Market...
Kotak Life Insurance
Hyderabad, Chennai, Bangalore
1 - 5 Year
Full time
Posted:
30+ days ago