To build and maintain robust progressive partnership with the Bank in the assigned Cluster, by supporting and contributing to bank partner’s strategy, adhering to the bank’s 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 ABSLI’s 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 Cluster
2.
Branch Spread
Alternate and Retail
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?
Job Context:
Bancassurance is the insurance distribution model wherein the bank allows an insurance company to sell its products to the bank’s client base. ABSLI tied up with NATIONALIZED BANK Bank in July 2023 to sell its insurance products through the Non-Branch Banking Channels and Bharat Banking.
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).
Accountability
Supporting Actions
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.
- Build effective relationship with the bank partner and become their first preferred insurer
- Plan and achieve business targets through the team of FLS and SPs in the bank
- Ensure to increase SP Activisation and selling of greater NOPs through the Team of FLS for greater distribution of ABSLI products