Territory Manager - Insurance

Role & responsibilities

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 opportunities for growth, 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/or 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 a high level of customer satisfaction.

▪ Coordinating with other departments such as marketing and claims to enhance overall business operations.