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Visit Our ABCD PageAditya 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. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Over 1,482 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,482No. of Employees
59,000Agents/Channel Partners
2,00,000+Aggregate Assets
INR 3,550 BillionActive Customer Base
39 MillionConsolidated Lending Book
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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. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Over 1,482 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,482No. of Employees
59,000Agents/Channel Partners
2,00,000+Aggregate Assets
INR 3,550 BillionActive Customer Base
39 MillionConsolidated Lending Book
INR 699 BillionCorporate Governance Policies
Financial and Debt-Related Policies
Business and Partnership Policies
Money management made easy
Understanding direct and indirect taxes
Know how to plan retirement well
Insurance and it's aspects for laymen
Investments and their jargon - simplified
Know all about loans and their management
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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 |
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Poornata Position Title of the job | Branch Manager | Reports to: Poornata Position Title |
Area Manager |
Function | Sales & Marketing | Reports to: Function | Sales & Marketing |
Department | Sales – Agency sales | Reports to: Department | Sales – Agency sales |
Designation of the Employee | Deputy Manager | Designation of the Manager | Senior Manager |
Date of writing/updation of JD | August 2017 |
1) 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 branch by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning. It also includes distribution building, retail development and recruitment of FLS and Advisors. |
2) 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 |
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| Revenue | GWP | Rs Mn | 8 | 10 | 12 |
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| Renewal | Rs Mn | 0 |
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| Cost | Claims Ratio | % | 41% | 51% | 52% |
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| Market share (% of business done by Private Insurers) | Retail | % | 1.30% | 3.20% | 6.40% |
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| Team/Span | Direct |
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| FLS | No. | 10 | 10 | 10 |
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| Indirect |
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| Advisors | No. | 250 | 350 | 350 |
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| Productivity | % Active Advisors | % | 20% | 20% | 20% |
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| Active Advisors/FLS/Month | No. | 5 | 8 | 10 |
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| NOP/active advisor/Month | No. | 1.43 | 1.76 | 2.11 |
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| GWP/active advisor/Month | Rs. | 4,391 | 5,797 | 8,643 |
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3) 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 |
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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 important to understand their psyche and then provide tailored solutions with wellness benefits 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 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 customer’s experience of our proposition is continuous and seamless. ABHI’s unique offering to market includes proposition includes -
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: How we create specific distribution models to penetrate different market segments remains a challenge. Motivation to channel partners to place business with the co. Activate and manage agent based distribution channel across the country
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 vertical in line with the leadership teams expectation of having the group benefits team contributing substantially to the bottom-line in years to come
Key Challenges for the role –
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4) 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 of FLS & achieve assigned business target by ensuring performance of assigned FLS with respect to recruitment of Advisors & achievement of business targets. |
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Drive implementation of agency initiatives aimed at improving sales productivity across all FLS. |
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Ensure renewal targets are met and business health for the allotted branch so that functional goals are achieved. |
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Relationship Management (Internal & External) to drive performance. |
Visit top advisors in regular intervals. |
Drive local sales promotion effort for to support team members in achieving business targets |
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Ensure Risk Management as per company policy. |
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Ensure compliance objectives and regulatory norms are achieved as per defined organizational guidelines. |
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5) Job Purpose of Direct Reports: Describe the job purpose of the direct report/s to the job (in 2-3 lines for each report) |
FLS(UM/AM/SAM/BDM)- The purpose of this job is to recruit quality advisors (freelancer) & support / train them to enable them procure health insurance policies from the market & subsequently service the customers.
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6) Relationships: Describe the nature and purpose of most important contacts or relationship (except superior/team members) with individuals, departments, organizations inside and outside of the organization, that job is required to interact with in order to deliver the job objectives | ||
Relationship Type | Frequency | Nature |
Internal |
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Business Stakeholders Across Business Verticals | Daily |
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External |
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Agents Agent Forums SAHI/general Insurance forums | Weekly/Monthly Monthly/quarterly Monthly/quarterly
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7) Organizational Relationships: Provide the structure for a level above and below the position for which this job description 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 |
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Signature (needed for the hard copy) |
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1 - 4 years
Graduate Diploma