General Insurance Business Development Manager Salaries by 4 Employees

5 - 8 years exp.

₹4.8 Lakhs - ₹5 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

35% less than the average Business Development Manager Salary in Insurance Companies for 5 - 8 years of experience

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Last Updated: 17 Oct 2024

Companies similar to General Insurance for Business Development Manager

Company name	Avg Annual Salary	Open Jobs
SBI Life Insurance Company Business Development Manager Salary 0 - 13 years exp. (936 salaries)	₹1.9 L/yr - ₹7 L/yr 2% less
Niva Bupa Health Insurance Company Business Development Manager Salary 0 - 12 years exp. (161 salaries)	₹2.6 L/yr - ₹6.2 L/yr 15% less	1 job opening
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Aditya Birla Sun Life Insurance Business Development Manager Salary 0 - 12 years exp. (147 salaries)	₹3 L/yr - ₹5.5 L/yr 16% less
Bajaj Allianz Life Insurance Business Development Manager Salary 1 - 10 years exp. (135 salaries)	₹3 L/yr - ₹6 L/yr 10% less	3 job openings
Shriram Life Insurance Business Development Manager Salary 0 - 9 years exp. (95 salaries)	₹2 L/yr - ₹6 L/yr 36% less
Aditya Birla Health Insurance Co Business Development Manager Salary 3 - 10 years exp. (78 salaries)	₹3.4 L/yr - ₹6 L/yr 6% less
Bharti AXA Life Insurance Business Development Manager Salary 0 - 10 years exp. (63 salaries)	₹2.4 L/yr - ₹8.8 L/yr 18% less
Reliance Nippon Life Insurance Business Development Manager Salary 1 - 13 years exp. (53 salaries)	₹1.5 L/yr - ₹6 L/yr 15% less
Tata AIA Life Insurance Business Development Manager Salary 1 - 12 years exp. (30 salaries)	₹2 L/yr - ₹7 L/yr 20% less
Future Generali India Life Insurance Business Development Manager Salary 0 - 13 years exp. (30 salaries)	₹3.5 L/yr - ₹7 L/yr 6% more
Tata AIG Business Development Manager Salary 2 - 10 years exp. (18 salaries)	₹3.1 L/yr - ₹6 L/yr 12% less
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Life Insurance Corporation of India Business Development Manager Salary 1 - 10 years exp. (15 salaries)	₹1.8 L/yr - ₹7 L/yr 18% less
Canara HSBC Life Insurance Business Development Manager Salary 1 - 14 years exp. (7 salaries)	₹2.5 L/yr - ₹6.2 L/yr 8% less
Iffco Tokio General Insurance Co. Business Development Manager Salary 1 - 13 years exp. (7 salaries)	₹3.4 L/yr - ₹10.7 L/yr 50% more
Paramount Health Services Tpa Business Development Manager Salary 3 - 20 years exp. (7 salaries)	₹3.7 L/yr - ₹7 L/yr 5% more	1 job opening
Ageas Federal Life Insurance Business Development Manager Salary 2 - 9 years exp. (5 salaries)	₹3.5 L/yr - ₹5 L/yr 16% less
MDIndia Health Insurance TPA Business Development Manager Salary 3 - 17 years exp. (4 salaries)	₹4 L/yr - ₹7 L/yr 12% more
Pramerica Life Insurance Business Development Manager Salary 3 - 14 years exp. (4 salaries)	₹3 L/yr - ₹4.5 L/yr 20% less
Medi Assist India Business Development Manager Salary 6 - 13 years exp. (4 salaries)	₹4.5 L/yr - ₹11.2 L/yr 54% more	2 job openings
Reliance General Insurance Business Development Manager Salary 3 - 10 years exp. (4 salaries)	₹4.4 L/yr - ₹7.8 L/yr 56% more

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Business Development Manager salary at General Insurance ranges between ₹4.8 Lakhs to ₹5 Lakhs per year for employees with experience between 5 years to 8 years. Salary estimates are based on 4 latest salaries received from various employees of General Insurance.

Experience wise General Insurance Business Development Manager salaries

Last Updated: 17 Oct 2024

Experience	Avg Annual Salary
5 years (AmbitionBox Estimate)	₹4.3 L/yr - ₹5.5 L/yr
6 years (AmbitionBox Estimate)	₹4.4 L/yr - ₹5.6 L/yr
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7 years (AmbitionBox Estimate)	₹4.5 L/yr - ₹5.7 L/yr
8 years (AmbitionBox Estimate)	₹4.5 L/yr - ₹5.8 L/yr

Similar Designation salaries in General Insurance

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(AmbitionBox Estimate)

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Assistant Sales Manager Salary

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₹2.7 L/yr - ₹3.5 L/yr

Senior Sales Manager Salary

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₹5.4 L/yr - ₹6.9 L/yr

Area Sales Manager Salary

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Territory Sales Manager Salary

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Deputy Manager Salary

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Branch Manager Salary

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Marketing Manager Salary

(AmbitionBox Estimate)

₹3 L/yr - ₹3.8 L/yr

Relationship Manager Salary

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₹2.5 L/yr - ₹4.15 L/yr

Territory Manager Salary

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₹5.05 L/yr - ₹8.9 L/yr

Salary related reviews for General Insurance

Kolkata in Kolkata

Sales & Business Development Department

4.0

• posted on 22 Apr 2021

4.0

for Salary and Benefits

Likes

I have worked in general insurance and i have experience and feild working habituated.I have issues policy from TATA, Chola, Shriram, Bajaj,go digit , ICICI Lombard from welcom financial Pvt Ltd Kolkata.I have interested with general insurance company

Salary - Good

+6 more

Dislikes

Nathing special but claim settlement should be fast for the customer's

LOSS ASSESSOR RISK INSPECTION ENGINEER,FACULTY in Noida

In industries --quality, production, in general insurance claims assess... Department

5.0

• posted on 20 Aug 2019

5.0

for Salary and Benefits

Likes

I am an expert in Motor claims of unlimited estimated loss. Carried out more than 11000 surveys so far. I like it and also delivered lectures in several national level seminars and work shops. I am honored to opine on the motor litigated and cases filed before the ombudsman for decision. I give my opinion on base of insurance laws and technicalities on the claims. I am also expert in pre insurance inspection /Risk Inspections also in Risk management of non motor insurance. I like the most above both jabs. I have deep knowledge of law and engineering/ technicality of the claims. I am very innovative with technology and laws and cooperative with the colleagues and do respect the bosses.

Salary - Excellent

+6 more

Dislikes

i like this industry. as my job is dependent on insurers so, some time i face deputation problem.

Regional Manager

BFSI, Investments & Trading Department

5.0

• posted on 16 Jul 2018

5.0

for Salary and Benefits

Likes

When Insurance industry was opened for for private participation in 2004, it was projected by market leaders that the existing public sector general insurance [PSGI] will be doomed in five years. Alas, that it was not to be. Even now the PSGI compnies hold more than 50% of Market Share of General Insurance Premium and is growing steadily and are making the Pvt. Sector Insurance companies run for their money. Unlike Life insurance where investments are made for long term, the general insurance contracts are annual in nature, yet the public confidence is still with PSGI companies. There can be delay but there won't be deny in case of any major catastrophe. Ofcourse, the PSGI companies have to be more customer friendly when it comes to hassle free acceptance of premium as well as settlement of claims by using the latest advanced automation/digitilaisation.

Salary - Excellent

+6 more

Dislikes

At times it may be frustrating for the really competent persons as out of turn recognition / elevation is not possible, as well as tougher industrial relations -- because of the undue advantage taken by certain undeserving elements taking protection under the prrevailing reservation system.

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Salary Discussions, Hike & Promotions

My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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General Insurance Business Development Manager Salary FAQs

What is the salary of Business Development Manager at General Insurance ?

The average salary of a Business Development Manager at General Insurance in India typically ranges from ₹4.8 Lakhs to ₹5.0 Lakhs per year, depending on experience (from 5 years to 8 years).

The top 10% of Business Development Manager at General Insurance earn more than ₹5.0 Lakhs per year, and the top 1% earn over ₹5.0 Lakhs per year. Business Development Manager Salaries at General Insurance can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 4 General Insurance employees in India.

What is the estimated take home salary of a Business Development Manager at General Insurance in India?

The estimated take-home salary of a Business Development Manager at General Insurance in India typically ranges from ₹36,877 to ₹38,088 per month. This is based on the average salary range of ₹4.8 Lakhs to ₹5.0 Lakhs per year for employees with experience ranging from 5 years to 8 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 4 salaries received from various employees of General Insurance. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than General Insurance for Business Development Manager in India?

Gallagher	₹10.0 Lakhs to ₹10.8 Lakhs per year
Reliance General Insurance	₹4.4 Lakhs to ₹7.8 Lakhs per year
Medi Assist India	₹4.5 Lakhs to ₹11.2 Lakhs per year
Iffco Tokio General Insurance Co.	₹3.4 Lakhs to ₹10.7 Lakhs per year
MDIndia Health Insurance TPA	₹4.0 Lakhs to ₹7.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by General Insurance, depending on the role and experience level.

What is the salary of a Business Development Manager in companies similar to General Insurance in India?

The salary of a Business Development Manager at companies similar to General Insurance in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Future Generali India Life Insurance	₹3.5 Lakhs to ₹7.0 Lakhs per year
Paramount Health Services Tpa	₹3.7 Lakhs to ₹7.0 Lakhs per year
SBI Life Insurance Company	₹1.9 Lakhs to ₹7.0 Lakhs per year
Aditya Birla Health Insurance Co	₹3.4 Lakhs to ₹6.0 Lakhs per year
Canara HSBC Life Insurance	₹2.5 Lakhs to ₹6.2 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Business Development Manager at General Insurance in India?

The salary growth for a Business Development Manager at General Insurance depends on factors such as experience, performance, and promotions. On average, a Business Development Manager can expect the following growth trajectory at General Insurance:

Experience	Average Salary Range
5 years	₹4.3 Lakhs to ₹5.5 Lakhs per year
6 years	₹4.4 Lakhs to ₹5.6 Lakhs per year
7 years	₹4.5 Lakhs to ₹5.7 Lakhs per year
8 years	₹4.5 Lakhs to ₹5.8 Lakhs per year

and so on.

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General Insurance Business Development Manager Salaries

General Insurance Business Development Manager salary in India ranges between ₹4.8 Lakhs to ₹5 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 General Insurance latest salaries received from various employees of General Insurance.