Basic Details: Fill the required information about business, unit, location, position, reports to position and date of updation of JD

Business

Aditya Birla Capital

Unit

Aditya Birla Health Insurance

Location

Mumbai

Poornata Position Number of the job

Reports to: Poornata Position Number

Poornata Position Title of the job

Area Manager

Reports to: Poornata Position Title

Regional Manager

Function

Sales &

- Marketing

Reports to: Function

Sales &

- Marketing

Department

Sales –

- Agency sales

Reports to: Department

Sales –

- Agency sales

Designation of the Employee

Senior Manager

Designation of the Manager

Senior Chief Manager

Date of writing/updation of JD

August 2017

- Job Purpose: Write the purpose for which the job exists (in 2-3 lines)

The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned area by providing effective leadership, planning resources, identifying & implementing sales strategies, monitoring people performance and market changes and ensuring timely operations support to ensure smooth functioning of the branches. To ensure delivery of unique consumer value proposition by ensuring enabling framework for the area sales force along with Sales Training, Product, Operations, HR &
- Distribution, strategy team.

- Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.

Metric

Metric

Units

FY18

FY19

FY20

Revenue

GWP

Rs Mn

20

30

40

Renewal

Rs Mn

0

Cost

Claims Ratio

%

41%

51%

52%

Expense Ratio

%

324%

141%

86%

Combined Ratio

%

365%

192%

138%

Market share (% of business done by Private Insurers)

Retail

%

1.30%

3.20%

6.40%

Team/Span

Direct

Branch Manager

No.

6

8

8

Indirect

FLS

No.

60

80

80

Advisors

No.

1500

2000

2000

Productivity

% Active Advisors

%

20%

20%

20%

Active Advisors/FLS

No.

25

30

35

NOP/active advisor/Month

No.

1.43

1.76

2.11

GWP/active advisor/Month

Rs.

4,391

5,797

8,643

- Job Context &
- Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section

About The Health Insurance Industry – While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities –

- With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele.

Increasingly

Indian customers have started considering health insurance partners as ententions of health advisers. In this scenario it becomes extremely key to understand their psyche and then provide tailored solutions with wellness perks which would help them meet their end objectives and bring in profitable revenue source for the company.

About The Aditya Birla Health Insurance –

Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016.

ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6 th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of “Health Insurance for All”, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer’s experience of our proposition is continuous and seamless.





ABHI’s unique offering to market includes proposition includes -

- A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy
- A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1
- ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.
- ABHICL’s vision has always been digital. The company has been successful in adopting paper-less approach right from identifying to on-boarding to delivering seamless experience of its customers & employees.

Challenges – Distribution reach will be the key to future growth acceleration for insurance companies as existing geographies get saturated and the focus shifts to new under penetrated geographies. Effective distribution reach into newer geographies, alternate distribution channels, innovative products, targeting new segments are the major challenges in this industry and will be the key drivers in the future.

While companies are planning to double their agency network over the next 2 years, the overall industry life agency workforce attrition rate ranges between 50-55% which is significantly high.

Hence the key challenge to recruit qualified insurance agents, especially in the semi-urban / rural markets and also to combat the increasing attrition rate particularly when new players are entering the market

Distribution reach will be the key to future growth acceleration for insurance companies as existing geographies get saturated and the focus shifts to new under penetrated geographies.

Effective distribution reach into newer geographies, alternate distribution channels, innovative products, targeting new segments are the major challenges in this industry and will be the key drivers in the future.

While companies are planning to double their agency network over the next 2 years, the overall industry life agency workforce attrition rate ranges between 50-55% which is significantly high.

Hence the key challenge to recruit qualified insurance agents, especially in the semi-urban / rural markets and also to combat the increasing attrition rate particularly when new players are entering the market

Long term and short term strategic plans to increase the market share and profitability in line with the company’s business objectives.

Identifying new segments, structure offerings, and value enhancers apart from creating differentiators’ remains a big challenge for the company’s growth. Meeting varied client’s expectation in terms of solutions, pricing and operational support remains a challenge.

Build and further enhance relationships with key customers and agents alike.

Build the areal in line with the leadership teams expectation of having the area team contributing substantially to the bottom-line in years to come

Key Challenges for the role –

- Creating and enticing value proposition in the distributor and consumer segment for a completely new concept and product in the market.
- Ensuring profitability and timely break-even in a cost driven market.
- Unavailability of skilled man power (BM/BH/AM/Support) in small towns
- Short gestation time to develop people because of fast business demand.
- Managing Attrition at the frontline due to competition
- Getting Infrastructure in place in small locations
- Competition across the industry
- Performing despite unethical market practices prevailing in the market
- Interdependency on other departments directly impacting the business like Operations, R&R;, Licensing Training, CD channel, etc.
- Process and system challenges affecting overall productivity and timelines.
- Market Forces / External factors which are beyond the organizational control affect performance e.g. Sensex. Recession etc.
- Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)

Key Result Areas

Supporting Actions Ensure budgeted capacitation at branches & achieve business targets assigned for the area through & with BM to meet the functional goals.

- Hire quality manpower BM
- Assist & guide the Branch Managers in proper recruitment of the Front Line Sales Force




- Ensure execution of an aggressive distribution creation strategy to acquire requisite number of productive agents from a crowded market to achieve targeted market penetration
- Monitor the status of the budgeted capacity vis-à-vis the actual strength on board
- Assist & guide on the profiles of the recruited candidates for insurance advisors
- Carry out goal setting of each individual for month, quarter & year
- Plan sales strategies by analyzing performance of various branches and deploying appropriate focus to enhance sales in all.
- Create effective engagement interventions at the regional level to ensure high levels of activity & delivery
- Conduct periodic reviews to monitor the key business levers and take corrective action where necessary
- Review the progress of the Front Lines Sales team on the assigned goal sheet.

Drive implementation of agency initiatives aimed at improving sales productivity across the assigned branches.
- Ensure daily adherence of sales process by way of effective planning and review.
- Ensuring sales progression of the regional sales by reviewing and Motivating team for setting higher performance standards
- Driving activities leading to maximum incentive earners at FLS &
- BM levels

Ensure Training &
- Development for the Sales Force in the assigned territory to enhance skill development.

- Identify the training need & collaborate with the training team to ensure that the timely training of the Agency Managers
- Identifying the training need & timely preparation of the training program for the advisors
- Fulfill the training needs of the Branch Managers in collaboration with the sales training team.

Maintain relationship with the top advisors of the branches/area to enhance motivation levels.
- Regularly meet the top advisors of his branches/area.
- Maintain good relations with the top performers/club members.

Track attrition and renewal to achieve business health for the area.
- Mentor; motivate value adding the Sales forces.
- Ensure a high percentile of premium through analysis and product mix.
- Ensure profitability by implementing new cost optimization initiatives rolled out by the Regional Manager or above.
- To ensure delivery of unique consumer value proposition by ensuring enabling framework for the area sales force

Ensure that business is done in ethical manner and customer’s and organisation’s objectives are met.
- Ensure that the business activities are carried out as per the compliance & regulatory guidelines laid by the company
- Put in place checks and balances to control the quality of business
- Take corrective actions as and when any malpractice is found

Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability for the assigned territory.
- Gain market intelligence
- Put in place strategies to tap potential market.
- Ensure recruitment of advisors in the areas having unexploited potential
- Enhance brand awareness in underdeveloped areas for future business

Maintain harmony with other departments for smooth functioning & better productivity of the area & organisation.
- Have regular meetings/discussions with training / underwriting/client services/HR/Compliance /Planning &
- Finance to understand their expectations & share requirements.
- Partner with other departments to ensure sales support.
- Manage and resolve escalations.

Team Development
- Ensure skill enhancement of team members through continuous on the job training.
- Coach and Develop team members
- Develop a second line of leaders within the sales function.
- Job Purpose of Direct Reports

Branch Manager: The purpose of this job is to manage a team of Agency Managers, ensure advisor recruitment as per plan, and assist the Branch Head to make the branch a profit centre and to achieve annual business targets.

- Relationships (If Applicable)

Internal Frequency Nature

Training R&R;

Underwriting

Client Services

HR

Compliance

Accounts/Finance

Weekly

Need based

Need Based

Need Based

Need based

Need Based

Need Based To plan & execute training programme To discuss the discrepancies To discuss exceptional cases To discuss client’s complaints To discuss and resolve employee query/complain , Offer Letter , joining formalities, salary delay /discrepancy etc To reply to their queries etc

Delay in reimbursement of bills/RW Extension etc

External Frequency Nature

Event Management Vendors

Training Institutes

Need Based

Need Based To get the local event done To get the IRDA training done & quality is maintained

- Organizational Relationships: Provide the structure for a level above and below the position for which this is written. Use position titles in the structured and indicate all the reports of the position.

SIGN-OFF: Provide the name of the Manager and the jobholder. Signature needed for the hard copy of the JD. Hard copy to be maintained in the organizational record.

Job Holder Reports to –

- Manager

Name Signature (needed for the hard copy)

📌 DAM_Agency_Bihar (Bihar)
🏢 Aditya Birla Health Insurance Company
📍 Bihar