Purpose of the Role:
Managing the entire emerging alliances space as a program. Responsible for ideating, conceptualizing and identifying partners in emerging, non-traditional spaces in the Life Insurance industry. Acquiring, signing up, and on-boarding new life insurance partners in the emerging segments. Facilitating the rest of the team in pursuing and closing deals in the emerging segments.
Program Management of Emerging Strategic Alliances
1. Ideate and conceptualize new segments to target as emerging strategic alliances in life insurance
2. Create the proposition for new segments that add value to the partner as well as to the organization
3. Work closely with internal and external stakeholders across actuarial, operations, customer service, sales, marketing, and product teams to create viable solutions that are ready to go to market
1. Communicate with and convince prospective partners on the value proposition
2. Map and engage with each key account to positively influence the decision-making process
3. Build relationships at all levels of the organization, to achieve high prospect-to-client conversion rate
4. Proactively provide insights to senior leadership in all areas of competitor analysis, market intelligence, and best practices for the identified segments, and specific accounts
5. Help the rest of the team in their Sales process
New Partner on boarding& Business Development
1. Effective implementation of overall on-boarding business sales strategies to suit the channel dynamics
2. Monitor, support and conduct reviews and feedback sessions with the teams for continuous development and achieving business volumes as projected
1. Ensure channel adherence to statutory and regulatory norms.
2. Ensure strict internal compliance to all organizational procedures and systems.
Skill Requirements from Incumbent:
1. Understanding and knowledge of the Life Insurance market in India, particularly the key competitors and prospects, pricing and commercial trends, deal architectures, and contractual design,
2. Ability to take work under pressure to achieve sales targets
3. Ability, maturity, drive and energy to aggressively pursue customers at various levels of seniority
4. Ability to effectively influence, collaborate and work with diverse stakeholders and internal teams
5. Resourcefulness in problem solving to find alternate ways of achieving goals and objectives
Professional Experience of the Incumbent:
7-12 Years relevant experience in life insurance market in India, preferably leading independent strategic alliance or pursuits role for a minimum of 3-5 years