Territory Manager (Insurance) @ The Muthoot Group

Job Description

ROLE SUMMARY (PURPOSE) The Territory Sales Manager role shall lead development and operations within the respective territory assigned (5-7 Zones), driving revenue growth and market expansion for the insurance products offered by Muthoot FinCorp. The primary responsibilities include strategizing, overseeing sales teams, nurturing client relationships, ensuring compliance, analyzing market trends, and collaborating cross-functionally to achieve sales targets. This role demands strong leadership, sales acumen, market insights, and a commitment to delivering exceptional customer service while adhering to regulatory standards in the dynamic insurance landscape of India. KEY RESPONSIBILITIES Expansion, growth, and development Recruit, train, and manage a team of Regional Managers within the territory; provide necessary guidance and training to achieve business objectives. Develop and execute effective sales/business development strategies to meet targets and expand the customer. base within MFL branches of the assigned territory. Setting sales targets for the team and monitoring their progress, taking corrective actions when necessary to ensure objectives are met. Evaluate the effectiveness of sales strategies and make necessary adjustments. Drive customer satisfaction and retention initiatives within the territory. Align product and marketing strategies to the developmental objectives of the territory Conducting market research and competitor analysis to identify growth opportunities, staying updated on industry trends, and reporting findings to higher management. Collaborate with marketing teams to design and execute promotional campaigns. Stay updated on industry trends, products, and developments in the insurance sector. Represent the company at industry events, conferences, and networking opportunities to enhance brand visibility. Compliance, Reporting, and Financials Ensure compliance with regulatory requirements and company policies in all sales activities. Generating reports on sales activities, revenue, expenses, and other relevant metrics for review by management. Regularly evaluating the team's performance, providing feedback, and implementing strategies for improvement. Manage budgets, expenses, and revenue forecasts for the territory. Stakeholder Management Drive initiatives to increase lead generation and conversion from the retail business team. Train, mentor, and coach the branch business employees on various products, processes, and procedures for increasing sales performance. Resolving customer complaints and issues promptly, maintaining high customer satisfaction. Coordinating with other departments such as marketing and claims to enhance overall business operations. KEY INTERACTIONS Internal Stakeholders External Stakeholders Branch Team: Retail business operating through gold loan branch employees. Marketing Team: Collaborate on campaigns, promotions, and market strategies. Senior Management: Report on sales performance, discuss strategies, and seek guidance. Operations Team: Collaborate on service delivery, customer support, and issue resolution. Finance Department: Align on budgeting, expenses, and revenue forecasts for the territory. Clients: Individuals, businesses, or organizations purchasing insurance products. Insurance Companies: Act as corporate agent for selling insurance policies. Regulatory Authorities: Ensure compliance with insurance regulations and guidelines set by authorities such as the Insurance Regulatory and Development Authority of India (IRDAI). Competitors: Monitor their activities, market positioning, and strategies. Industry Networks and Associations: Participation in industry events, networking, and collaborations. Prospective Clients: Identify and engage potential customers within the territory. Geographical Coverage Kerala, Tamil Nadu, Andhra Pradesh, Telangana, and East (2400 branches in Territory 1)/Karnataka, West, and North Zones (1400+ branches in Territory 2) Number of direct reports 25 to 30 KEY SKILLS & BEHAVIOURAL ATTRIBUTES Key Skills- Solution, strategic thinking, analytical skills, strong communication and presentation skills, team management, and Leadership Behavioral Attributes- Driven and in alignment with our Purpose of Transforming the life of the common man by improving their financial well-being and anchored by our core values of integrity, collaboration, and excellence. EDUCATION & EXPERIENCE Education A bachelors or masters degree in business administration, finance, or a related field is preferred. Professional certification in insurance or relevant fields would be an added advantage. 8 - 12 years of experience in managing a large team in bancassurance or direct sales in Insurance, bank, or NBFC is required LOCATION:Hyderabad & Mumbai

Employement Category:

Employement Type: Full time
Industry: NBFC ( Non Banking Financial Services )
Role Category: NBFC ( Non Banking Financial Services )
Functional Area: Not Applicable
Role/Responsibilies: Territory Manager (Insurance)

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Keyskills:   strategic thinking analytical skills presentation skills team management Leadership Solution strong communication