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Channel Development Manager – IMF Channel – CTC Upto 8.5 lacs

Max life insurance co. ltd

Max Life Insurance – Urgent Hiring – for IMF Channel 

CTC – From 5 Lacs – Upto 8.5 Lacs

Job Description – Channel Development Manager-IMF

Reporting To – Regional Manager -IMF

Band 4/4A

About Max Life Insurance:

”Max Life Insurance, one of the leading non-bank promoted private life insurers, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is part of the Max Group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of the MS&AD Insurance Group, which is amongst the leading insurers in the world. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 15 years, Max Life Insurance offers superior investment expertise. Max Life Insurance has the vision ‘To be the most admired life insurance company by securing the financial future of our customers’. The company has a strong customer-centric approach focused on advice-based sales and quality service delivered through its superior human capital. In the financial year 2016, Max Life recorded Gross Written Premium of Rs. 9,216 crore with sum assured of Rs. 2,71,633 crore and Asset Under Management of Rs. 35,824 crore as on 31st March 2016.”

Job Summary:

· Implement the strategy to setup and develop the IMF Channel in the designated territory. Setup and manage a pool of 10-15 Insurance Marketing Firms managing a revenue stream of around 2 cr.

Key Responsibilities/ Key Deliverables:

  • Understand the IMF regulation, value proposition & registration process
  • Independently implement the IMF acquisition plan in the territory
  • Identify potential leads and sources for prospective IMF’s, coordinate with HO for referred leads
  • Connect with prospects & organize seminars for IMF acquisition
  • Ensure conversion of leads through effective pitch of IMF value proposition
  • Ensure quality of IMF’s in sync with desired profile
  • Enable the setup of IMF of agreed prospects
  • Understand all regulatory requirements and manage the IMF registration process with IRDA
  • Oversee technology support to enrolled IMF’s
  • Ensure seamless contracting of IMF’s with Max Life
  • Manage performance of setup IMF’s in steady state
  • Develop understanding of products & coach IMF staff on product USP’s
  • Implement a performance management and rewards system
  • Drive IMF profitability through improving productivity of IMF’s sellers & controlling cost of sales
  • Provide marketing, training and operational support to IMF’s
  • Manage attrition of IMF’s through revival or replacement
  • Drive quality of business sourced from IMF’s
  • Ensure right product mix and control key quality measures such as leakage and persistency

Measures of Success:

  • IMF Acquisition
  • Revenue
  • IMF Activity & Retention
  • Quality of Business

Job Specifications:

  •  Educational Background: Preferably a graduate
  •  Work Experience: At least 5-6 years of experience in Sales & Distribution, Key Account Management
  •  Knowledge & Skill Matrix.

Additional Information (Optional):

  • Key Relationships
  • Nature of the Role
  • Presence
  • Commercial Aspect
  • Cross Functional Skills

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