Max New York Life Insurance Co. Ltd. (https://www.maxlifeinsurance.com)

 

Designations & Promotions:

 

• Partner (AVP) (Aug 2008-Feb 2011)

 

About The Company:

 

Max New York Life Insurance Co. Ltd., formerly a joint venture between Max Financial Services Limited in India and New York Life in the USA, has undergone a transformation and is now recognized as Max Life Insurance Company Limited. Following the USA partner's decision to withdraw from investments, Max Life Insurance has emerged as a prominent life insurance provider in India. As a subsidiary of the publicly listed Max Financial Services Limited, it holds the distinction of being the largest non-bank private-sector life insurer in the country.

 

Role and Responsibilities:

 

• Successfully establish and launch a new office, focusing on implementing skill builders and conducting a comprehensive field induction program.

• Exceed targets for branch advisor recruitment and premium generation, driving growth and expanding the sales team.

• Provide support to the HR department in recruiting sales force, training new hires and ensuring efficient operations.

• Monitor day-to-day activities, planned and executed strategies for the agency team, ensuring alignment with organizational goals.

• Organize office meetings, motivational drives and branch-level spike schemes to foster team engagement and boost performance.

• Lead initiatives for new sales, collections, local marketing and promotion activities, driving revenue growth for the business.

• Vigilantly monitor the competition to stay informed about market dynamics and identify opportunities for improvement.

• Proactively identify the root causes of non-performance within the sales team and recommended appropriate remedial actions to facilitate turnaround efforts.

• Maintain focus on profitability, persistency and product mix to ensure a sustainable and successful business operation.

• Identify cross-selling and up-selling opportunities, driving the share of wallet initiative to maximize customer value.

 

Key Strategies Implemented:

 

• Implemented effective lead generation strategies to identify and engage potential customers, maximizing opportunities for sales growth.

• Focused on targeting government employees as a specific customer segment, leveraging their unique needs and preferences to drive sales.

• Conducted group and mass sales initiatives in various corporate settings, offering special pricing and incentives to encourage bulk purchases.

• Developed and executed marketing campaigns and digital promotion drives to increase brand visibility, attract new customers, and generate sales leads.

• Created and established a freelance distribution channel to expand the reach of the company's products and services, tapping into a wider network of sales professionals.

• Leveraged upselling and reselling opportunities to existing customers, capitalizing on their trust and satisfaction to drive additional sales.

• Conducted skill development sessions to enhance the capabilities and performance of the sales team, ensuring ongoing professional growth and improved customer service.

• Formed over 100 partnerships for joint promotional programs, targeting high-net-worth individuals (HNIs) as potential advisors and expanding the recruitment pool.

• Implemented Saturday drills to enhance productivity, providing focused training and support to maximize sales performance.

• Celebrated the launch of advisors and created emotional bonding through various occasions and events, nurturing a strong sense of camaraderie and loyalty among the team.

 

Outcomes:

 

• Consistently achieved outstanding results, surpassing targets by over 100% as SBU head, demonstrating exceptional leadership and strategic execution.

• Established offices that consistently excelled in sales and collection performance, earning recognition as the best and highest-performing offices in their respective categories during my tenure as Partner.

• Orchestrated a highly successful recruitment campaign, resulting in a record-breaking recruitment of 100 agents in a single month, contributing to the expansion and growth of the SBU.