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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. 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
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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
Financial and Debt-Related Policies
Business and Partnership Policies
Money management made easy
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Life Insurance
Health Insurance
Home Finance
Personal Finance
| 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 |
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Poornata Position Title of the job | Regional Manager APC | Reports to: Poornata Position Title |
Head-Variable Agency |
Function | Sales & Marketing | Reports to: Function | Sales & Marketing |
Department | Sales – Agency sales | Reports to: Department | Sales – Agency sales |
Designation of the Employee | Senior Chief Manager | Designation of the Manager | Assistant Vice President |
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 the job is to build, and develop the execution plan for the region to achieve distribution building, top line and bottom line targets, keeping in focus various parameters like revenue, distribution creation, cost efficiencies, for the region & help make the organization a leading player in the region.
To ensure delivery of unique consumer value proposition by ensuring enabling framework for the regional sales force along with Sales Training, Product, Operations, HR & Distribution, strategy team. |
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 | 80 | 342 | 980 |
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| Renewal | Rs Mn | 0 |
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Cost | Claims Ratio | % | 41% | 51% | 52% |
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| Expense Ratio | % | 324% | 141% | 86% |
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| Combined Ratio | % | 365% | 192% | 138% |
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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 | No. | 10 BMs | 15 BMs | 15 BMs |
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| Indirect |
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| Agency partners | No. |
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| Advisors | No. |
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Productivity | % Active Advisors | % | 20% | 20% | 20% |
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Active Advisors/FLS | No. | 25 | 30 | 35 |
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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 –
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 budget capacitation of the Branch Head, & Agency Partners to induct them to the business work flows in order to achieve business targets assigned for the territories |
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Ensure effective execution of the business strategy in the region. Ensure profitable and sustainable business by driving sourcing of high quality business sourced, market conduct in line with organizational and legal requirements
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Ensure implementation of sales promotion & R & R programs intended to motivate the sales force and help the branches to achieve the revenue targets for CAM Ensure training & development of the team to enhance performance. |
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Achievement of Business Targets, track attrition and renewals to achieve business health for the region. |
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Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability |
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Interdepartmental Coordination and ensure that business is done in ethical manner and customer’s and organisation’s objectives are met. |
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Team Management |
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| 5) Job Purpose of Direct Reports |
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Branch Head: The purpose of this job is to recruit quality Agency Partners & support / train them to enable them procure insurance policies from the market, subsequently service the customers and make the branch a profit centre and to achieve annual 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, recruitment of Advisors.
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| 6) 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 | |
| 6) Relationships (If Applicable) | ||
| Internal | Frequency | Nature |
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. |
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| 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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9 - 14 years
Graduate