Business Head - Insurance (15-20 yrs)

Job Overview:

The Business Head will be responsible for spearheading the overall business operations and strategic growth of the insurance broking division. This leadership role involves overseeing sales, client management, regulatory compliance, operations, and financial performance, with a clear focus on expansion and market leadership.

Key Responsibilities:

Strategic Leadership:

- Formulate and implement strategic plans to drive business growth in the insurance broking sector.

- Identify new market opportunities and develop strategies to increase market share and profitability.

- Build and maintain strong relationships with insurers, clients, and regulatory bodies.

Sales and Business Development:

- Lead the sales team to achieve revenue targets through new client acquisition and cross-selling initiatives.

- Develop and enhance relationships with corporate clients, SME clients, and individuals to generate high-value business.

- Leverage existing networks and build a robust pipeline of business opportunities.

Operations and Efficiency:

- Ensure operational excellence by overseeing efficient processes for client onboarding, policy management, claims handling, and renewals.

- Work closely with the compliance and legal teams to ensure adherence to regulatory frameworks and guidelines.

- Implement technology-driven solutions to improve service delivery and customer experience.

Team Leadership and Development:

- Lead, mentor, and develop a high-performing team, ensuring they are aligned with the company's strategic objectives.

- Foster a performance-driven culture with clear goals, accountability, and employee engagement.

Financial and Performance Management:

- Manage P&L responsibilities for the business unit, ensuring profitability and cost optimization.

- Set and monitor KPIs for business performance, ensuring revenue growth and profitability targets are met.

Regulatory Compliance and Risk Management:

- Ensure compliance with IRDAI regulations and other relevant laws governing insurance broking in India.

- Oversee risk management processes, including client due diligence and internal audits.

Qualifications and Skills:

- Bachelor's degree in Business, Finance, Insurance, or a related field (MBA preferred).

- 15+ years of experience in insurance industry, with at least 5 years in a senior leadership role.

- Strong understanding of the Indian insurance market, including regulatory knowledge (IRDAI).

- Proven track record of driving business growth and achieving financial targets.

- Excellent leadership and team management skills, with the ability to inspire and lead large teams.

- Strong communication, negotiation, and client management skills.

- Analytical mindset with the ability to think strategically and drive execution.

- Knowledge of technology solutions in insurance broking is a plus.