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Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
- ABCL NRC Policy
- Corporate Social Responsibility
- Fair Practices Code
- Internal Guidelines on Corporate Governance
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- Regulatory Disclosure
Financial and Debt-Related Policies
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- Terms & Conditions
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- Archival Policy
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Job Description
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Job Description
Job Purpose
The incumbent is responsible for designing the current and future strategy of the mid and large corporate segment of the channel, while keeping in mind the success metrics which will be critical in achieving profitability. This role also entails allocating the team to cater to requirements of the partners in order to increase the market share while ensuring quality and targets are met
Job Context & Major Challenges
Job Context/ Job Challenges:
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 6th 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 customers experience of our proposition is continuous and seamless.
ABHIs 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.
ABHICLs 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-
Ensuring concept selling instead of price based-selling.
Build a distributor value proposition where deeper customer and partner engagement will be required to create mind-space.
Identify the slippages in identified channels, and innovate processes in conjunction with the Partner and operations teams to ensure that conversion loss due to channel nuances are minimized
Driving the Sales force to ensure that the entire spread of products is marketed and not only the customized range (low profitability).
Monitor the market trends very closely and propose product modifications accordingly.
Key Result Areas
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Create robust structure and build right capacity to achieve top-line growth and increase market share. | 1. Define & set targets for the Sales Force as per business plan 2. Guide and collaborate with Regional Managers and to create plans of growth for each Region / channel. 3. Create strategies on capacity building and improving distribution reach 4. Identify strengths of newer channels and create distribution structures to maximize cross-utilization or resources and maximize revenue profitably. 5. Drive the communication of sales programs, structures and initiatives to ensure single minded focus and objectives |
| KRA2 | Top Line & Bottom Line Delivery | 1. Guide and collaborate with respective reportees to identify create plans of growth in each zone. 2. Source & develop new partner channel to enhance distribution and improve market penetration 3. Create and drive on the desired product mix for the sales team 4. Conduct structured meetings to understand market trends, requirements and thereafter create new strategic initiatives 5. Modifications in pricing basis market trends in collaboration with the Actuarial Team. |
| KRA3 | Strive to be the preferred Insurer for the Partner and develop new avenues to drive business within the given channel. | 1. Get the desired buy in, support and commitment from existing channels. 2. Work continuously on Relationship Management by re-aligned manning patterns in tune with business requirements, supporting them with accurate & timely MIS, Rewards & Recognitions and various other service related activities. 3. Build relationships with seniors and gain access to newer channels to increase revenue earning and profitability. 4. Identify untapped opportunities within the given channel which can then be tapped to improve Topline |
| KRA4 | Ensure design and implementation of cutting edge Sales Management Practices | 1. Collaborate on creation of appropriate progression plans 2. Collaborate on creation of Sales Incentives Plans to drive the teams to desired levels of productivity and achievement of GWP targets 3. Collaborate on creation of appropriate training plans 4. Ensure adequate recognition platforms and programs to reward performance. 5. Ensure communication of objectives, new initiatives and programs across all levels |
| KRA5 | Manage Expenses within allowable Expense Gap | 1. Increase Distributor and internal team productivity. 2. Strategic and tactical deployment of resources-capital or manpower to maximize business. |
| KRA6 | Design and ensure implementation of the unique customer experience program for the channels assigned and ensure consistency of experience | 1. Design and develop the customer experience journey for each channel / partner. 2. Contract with the service functions effectively to ensure a uniform and high quality customer experience across the channels. 3. Review the experience basis NPS and customer survey dip-sticks and make course corrections accordingly |
| KRA7 | Strategize to achieve high renewals | 1. Devise a comprehensive renewals strategy for the assigned Partner. 2. Constantly liaison with the operation function to ensure flow of MIS and publication of real-time data; channel and POS wise 3. Liaison and build an execution plan along with the Partner partner leadership in consonance with the idiosyncrasies of the given channels. 4. Drive with the sales team to achieve the milestone set. 5. Review and take corrective action basis continuous monitoring of data and performance across channel partners and POS. |
| KRA8 | Team Management | 1. Recruit the best and competitive talent from the market. 2. Mentor, supervise and coach and well as provide direction to subordinates. 3. Facilitate development of skills of sub-ordinates to enable them to perform and achieve their roles as well as take on higher responsibilities. |
5 - 11 years
Diploma
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