Kotak Mahindara Life Insurance Branch Sales Manager Interview Questions and Answers

The incentive design includes a mix of commission and bonuses based on achieving sales targets and customer satisfaction ratings.

• Commission is based on a percentage of sales revenue generated

• Bonuses are awarded for achieving quarterly and annual sales targets

• Customer satisfaction ratings also factor into bonus calculations

• Incentives are designed to motivate and reward high-performing sales team members

PAR products refer to participating policies where policyholders receive bonuses, while NON-PAR products do not offer bonuses.

• PAR products provide policyholders with bonuses based on the insurer's profits

• Policyholders of NON-PAR products do not receive bonuses

• PAR products typically have higher premiums compared to NON-PAR products

• Examples of PAR products include whole life insurance and endowment plans

• Examples of NON-P...read more

ULIP is a type of insurance product that combines investment and insurance. It has various charges like premium allocation, fund management, mortality, etc.

• ULIP stands for Unit Linked Insurance Plan

• It offers both insurance coverage and investment options

• Charges associated with ULIP include premium allocation charges, policy administration charges, fund management charges, mortality charges, etc.

• Premium allocation charg...read more

To achieve my promotion goal sheet, I will focus on exceeding sales targets, developing a strong sales team, and implementing effective sales strategies.

• Set clear and achievable sales targets

• Motivate and train the sales team to improve performance

• Implement effective sales strategies and tactics

• Build and maintain strong relationships with clients

• Continuously analyze market trends and adjust strategies accordingly

• Regular...read more

I will recruit my team in the sales sector by utilizing a combination of traditional and modern recruitment methods.

• I will start by creating a detailed job description outlining the qualifications and skills required for the sales manager role.

• I will advertise the job opening on various job boards, social media platforms, and professional networking sites to attract a wide pool of candidates.

• I will also reach out to my...read more