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 AXIS Bank in March 2024 to sell its insurance products through the Branch 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).
Principal Accountabilities
Accountability
Supporting Actions
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.
Work closely with AXIS Bank Burgundy Relationship Managers to provide a bouquet of products and investments to their HNI and Ultra HNI client base.
Provide sound financial,
insurance and wealth-management services to protect client assets and grow the net worth of their respective portfolios.
Ensure quality of business and persistence.
Ensure to increase SP Activisation and selling of greater NOPs through the Team of FLS for greater distribution of ABSLI products
Ensure selling of right Product Mix as defined by the organisation to achieve overall business growth and profits.
Identify and implement recent business opportunities within the allocated area to enhance penetration
Implement activities / programs designed at the organisational level to build great visibility, promote branding, and strengthen our relationship with the bank.
Train and appraise the RM’s on ABSLI products thereby creating a mind space and easy recall for them.
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 pro
📌 Axis - PWM - Delhi (India)
🏢 Aditya Birla Capital
📍 India
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