Associate, Treasures Bancassurance Specialist

About the Role

As a leading bank in Asia, DBS Consumer Banking Group helps customers realise their dreams and ambitions with a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards, and personal loans.

Job Purpose

The Insurance Counsellor serves as the local insurance specialist for the Bancassurance Business, enabling the insurance objectives of the allocated region/cluster/branch location. The role is directly responsible for achieving the insurance revenue target for the allocated area.

Key Accountabilities

• Accountable for achieving monthly & annual Banca sales targets, including New Business revenues from LI & GI and Renewal income targets.
• Ensure proper implementation & execution of the monthly insurance strategy across all channels and locations.
• Source Insurance proposals strictly within the approved Banca process and products.
• Ensure timely sessions and attendance of eligible participants for knowledge/skilling sessions of Specified Persons and managers at the Branch.
• Identify prospect lists and scope books with RMs based on the monthly strategy through joint sitting with TLs.
• Work with RHs, CHs, and TLs to execute business development activities as per the monthly plan to generate insurance prospects and convert them into insurance clients.
• Ensure proper sales spread between product mixes to maximize revenue earnings from Bancassurance products and create a sustainable revenue flow through renewals.
• Drive sustained increases in insurance penetration of existing customers through cross-sell and up-sell of insurance products, including online insurance plans.
• Drive and deliver a radical improvement in customer service, aiming for a CSS score of 4.20 or above for insurance products.
• Ensure the highest levels of persistency by facilitating timely collection of renewal premiums and enabling client contact management.
• Timely resolution of client complaints on insurance and escalation to the insurer through the Bancassurance team.
• Ensure regulatory compliance through timely IRDA Certification & Renewal of Certificates of sales staff as Specified Persons for DBS as a Corporate Agent.

Job Duties & Responsibilities

• Ensure alignment of self and Insurer ICs on the execution of key levers as per Banca strategy at DBS Bank.
• Demonstrate inputs at the Branch with an average of a minimum of 3 insurance calls per day for the month.
• Facilitate IRDA certification of new joinees within 3 months of joining DBS and track timely renewal of certificates.
• Facilitate product & KYC/AML training for new joinees within 1 month of joining DBS.
• Initiate identification and development of new business segments and geographical areas to generate business opportunities.
• Manage customer issues related to service or insurance needs, escalating to the Banca team if required.
• Ensure training & briefing on all product launches & upgrades at the Branch.
• Stay attuned to current economic and financial markets to address customer queries and update front-line sales accordingly.
• Facilitate TRM activation through referrals of the insurer's online insurance products to increase TRM mindshare.
• Ensure internal & regulatory compliance and adherence to internal DBS Sales processes.
• Track and review insurance penetration of the client base for RMs by identifying prospects from the base and cross-selling to existing DBS clients.
• Facilitate customer segmentation for insurance products and assist with specific sales pitches to respective segments using the insurer's tablet application.
• Ensure follow-up for renewal premiums to increase persistency and subsequent renewal revenues.
• Undertake frequent competitor analysis to ensure DBS product suite is in line with or ahead of competing banks/insurers, sharing updates with the front-line team and Banca team regularly.

Requirements

• Experience in Retail Banca sales, HNI Sales, Wealth Management, and Private Banking segments.
• Sound understanding of financial planning and wealth management products in India.
• In-depth knowledge of the local market and competition.
• AMFI / IRDAI / FEDAI certified candidates with BCSBI certification would be an added advantage.

Education / Preferred Qualifications

• Graduate / Post Graduate with an MBA in a relevant field.

Location

• Coimbatore-DBIL

Job Details

• Job: Product Sales
• Schedule: Regular
• Employee Status: Full time