product manager third party products (insurance) · product manager – third party products...
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Opportunity brought to you by Fast Track
Product Manager – Third Party Products
(Insurance)
Job ID CON2015-282
Department Consumer Bank – Third Party Products
Location Mumbai
Number of Positions 1
Reporting Relationships SVP
Position Grade Chief Manager/Associate Vice President
The Third Party Product Team is responsible for managing the products which are manufactured by third parties, like an AMC is the manufacturer of Mutual funds, a Life or General Insurance Company is manufacturer of insurance plans. Bank acts as a distributor of these products with respective regulatory approvals/licensing like AMFI Registration for distribution of Mutual Funds, Corporate Agency licensing for Insurance products etc. The various lines of products/service managed by the TPP team includes the following:
Investment products which includes Mutual Funds, PMS, Bonds and Debentures, Alternate Investment Products and other non-MF platform products.
Life Insurance
General Insurance
Capital Market products and services – Demat, ASBA, Trinity The role of the TPP product team ranges from sourcing/tie-ups with external manufacturers for these products to be made available to the bank customers, to driving business in these products through the channel. It encompasses working with various teams of external manufacturers as well as within the bank to provide the support infrastructure for the processing of customer applications, MIS, customer interfaces, training, knowledge management, etc. The team is also responsible for adhering to the regulatory guidelines and creating processes for the same, internal as well as customer centric. This involves extensive cross functional work with the compliance, risk, process, IT support, training, HR, as well as operations and other support teams of the bank as well as various such teams of external manufacturers. The TPP Product team is also the knowledge center of the bank which provides various inputs related to these products which includes research on markets and products, advisory, product selection as well as handling queries on various aspects of the products from internal channels as well as providing inputs for customer queries. It has the primary responsibility of ensuring achievement of revenue as well as topline, AUM and customer penetration goals set by the bank for various lines of products and services. Kotak Mahindra bank is amongst the top most banks in terms of productivity, volume, quality and growth amongst banking industry in many of these products.
Part of the bank’s Third Party Products team for Life Insurance.
Overall responsibility for the retention of the Insurance AUM of the bank sourced Life Insurance policies and heading the retention team.
Manage Renewal Persistency for all verticals of KMBL to ensure targeted renewal collection.
Responsible for Retention of KLI policies sourced by KMBL which come up for Surrender
Design and implement Strategies to improve Persistency and other health check parameters related to Insurance policies, which includes data and information flow, triggers, controls as well as drives and campaigns.
Create and manage systems and content to provide inputs to the channel for Fund Advisory on ULIP policies of bank customers.
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Designing and Implementing R&R activities/ drives/ campaigns
Implementing Other Management Initiatives
Needs to have very strong concept of Life Insurance products and exposure to bancassurance and basic banking.
Needs to be very approachable and should have the ability to guide and be the first point of contact for the employees.
Excellent communication skills, ability to maintain good rapport with all stakeholders.
Ability to successfully implement the drives and campaigns initiated from time to time.
Eye for details, meticulous and creative
Post Graduate with at least 3-5 years of experience in Sales and min 5-6 years in insurance, good knowledge of fundamentals of Insurance products and sales process.
Excellent Team Handling ability to manage a team which is spread across locations.
High skills on MS Excel, capability to work on large data to derive meaningful insights.
If you wish to apply for this job position, please fill your details in the Kotak Fast Track Application Form and mail to [email protected] Please mention the following in the subject line as „”Position Name” –“Your Name” – “Your Current Business group”
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