Relationship Manager Corporate Business - Broking
- Mumbai, Maharashtra
- Permanent
- Full-time
- Management of corporate group - Brokers
- Responsible to formulate the strategy and action-plans for the achievement of revenue and profitability of Broking for Mumbai business budget with top line & bottom line growth of P&L
- Research the market - growth, competitors, brokers and their past performance etc. basis which align on the targets including renewal versus fresh premium, projections by month, composition by different lines of insurance etc.
- Develop an action plan for the team to drive the targets by brokers, lines of business and sales through the existing signature accounts, ensuring achievement of defined topline/ bottom-line targets.
- Support team in creating/ bundling appropriate deals for existing clients and managing the relationship effectively to ensure client acquisition, confidence, engagement and retention
- Discuss upscale/ cross-sell opportunities with clients to drive growth of the business conducted and revenue generated
- Drive plans for increasing/ decreasing business with existing brokers and signing up new brokers.
- Maintain quality of product portfolios to ensure portfolios offered meet clients' requirements as well as generate product wise.
- Capability development
- Regularly engage in discussions with team on prospects, closures, and commitments as well as provide guidance to the team to ensure that each LoB and location is achieving its targets.
- Identify clients' requirements/ evolving market environment and identify gaps in various business processes/ operations to drive improvements required to drive revenue target
- Review various policies during renewals and recommend revisions in terms of risk coverage.
- Provide trainings to brokers to ensure they are equipped with knowledge of various products and sales capabilities to generate maximum leads for BAGIC
- Maintain in depth understanding of market, developments across various sectors and Company various products to have informed discussions with clients while pitching to them for business/ discussing other business matters
- Relationship management
- Build long term relationship with key brokers and intervene in resolving escalated issues (like claims, policy issuance etc.) for on time redressal of grievances and concerns
- Strategize and develop relationships with senior brokers executives to place Company as a preferred business partner
- Identify right set of clients and acquire them by understanding and catering to their specific needs to build a strong pipeline for Company.
- Forge strong business relationship along with developing and leveraging personal rapport with senior management of various corporates
- Develop engagement activities and create value propositions for Key Accounts for long term relationships
- Conduct regular meetings with the brokers. Share collateral and product information through mailers. Discuss what support they require from Company; identify action areas for brokers and Company team.
- Recommend rewards and recognition programs to be driven for brokers to ensure long-term partnership and sustainable business generation for Company.
- Digital transformation
- CRM implementation - implementation of CRM for corporate clients and implementation amongst team.
- Digital initiatives - Develop and effective implementation of solutions for large customers as well as brokers on digital platform for ease operation as well as reduction of TAT
- Team development
- Participate in recruitment process to identify the right talent for various positions within the business team
- Determine individual training needs and development plans to build expertise and enhance skills in the team. To ensure they are equipped with knowledge of various products and sales capabilities to generate maximum business for Company
- Collaborate to ensure optimum productivity and positive contribution effectively to achieve strong team spirit both within the team and the organization