Job Description
Business Function
As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.
Job Purpose
• Insurance counselor is the local insurance specialist for Bancassurance Business to enable Insurance objectives of the cluster/CBG branch location allocated.He/ She would be directly responsible for achieving the insurance revenue target for the branch / cluster.
Key Accountabilities
• Accountable for achieving monthly & annual Banca sales targets, as agreed. Target comprises of New Business revenues, Renewal income target and the General Insurance revenue target.
• Ensure proper implementation & execution of insurance strategy for month for the branch and sourcing of Insurance proposals through the Tablet application.
• Ensure implementation at the Branch the timely sessions and attendance of eligible participants for knowledge / skilling sessions of AKASH for the front line sales team.
• Prospect list identification with RMs basis the strategy for the month through Joint sitting with TLs.
• Working with Team Leaders and Micro Marketing Managers to execute business development activities as per the monthly plan aimed at generating insurance prospects, and follow by action plan to convert the prospects to clients of insurance.
• Ensure proper sales spread between products mix aimed at maximizing revenue earnings of Bancassurance products and also creating a sustainable revenue flow for the branch through renewals.
• Sustained increases in insurance penetration of existing through cross sell and up sell of insurance products including Online insurance plans.
• Drive and deliver a radical improvement in customer service in the local market which is reflected in CSS score of 4.20 or above for insurance products.
• Ensure highest levels of persistency by facilitating timely collection of renewal premium and enable client contact management for insurance clients.
• Timely resolution of client complaints on insurance and escalation of the same to insurer through the Bancassurance team.
• Ensure regulatory compliance by timely IRDA Certification & Renewal of Certificates of sales staff as Specified Person for DBS as a Corporate Agent.
Job Duties & Responsibilities
• Core responsibility of DBS Insurance Counselor is to ensure alignment of self and Aviva ICs on the execution of 5 key levers as per the 2015 Banca strategy at DBS Branches.
• Demonstrate the inputs at the Branch with an average of minimum of 3 insurance calls per day for the month.
• Facilitate IRDA certification of new joinees within 3 months of their joining DBS and track for timely renewal of certificates.
• Facilitate product & KYC/AML training for new joinees within 1 month of their joining DBS.
• Initiates identification and development of new business segments and geographical areas to generate business opportunities
• Manage customer’s issues on service or insurance needs. Escalate to Banca team if required.
• Ensure training & briefing on all product launches & upgrades at the Branch.
• Keep attuned to the current economic and financial markets so as to be current and proficient in attending to customers’ queries and update Front line sales on the same.
• Facilitate TRM activation through the referral of On-line insurance products of the insurer to enable mindshare of TRMs.
• Ensure internal & regulatory compliance and adherence to internal DBS Sales process.
• Track and review insurance penetration of client base for RM by identifying prospects from base and cross selling to existing DBS clients.
• Facilitate customer segmentation for insurance products and help in specific sales pitches to respective segments through the Tablet application developed by the insurer.
• Ensure follow up for renewal premiums to increase persistency and subsequent renewal revenues.
• Ensure that call out to clients are made post insurance sales within 45 days of issuance to check for policy document receipt and address clarifications if sought.
• Undertake frequent competitor analysis so that DBS product suite is in line with (or ahead of) competing banks / insurers. These updates to be shared with front line team and Banca team at regular intervals.
Required Experience
• Minimum 10 years of experience in HNI Sales / Wealth Management / Private Banking segment.
• Sound understanding of financial planning and wealth management products in India
• In-depth knowledge of local market and competition.
• AMFI / IRDAI / FEDAI certified candidates with BCSBI certification would be an added advantage
Education / Preferred Qualifications
• Graduate / Post Graduate with MBA in relevant field
DBS India - Culture & Behaviors
• Performance through Value Based Propositions
• Ensure customer focus by delighting customers & reduce complaints
• Build pride and passion to protect, maintain and enhance DBS’ image and reputation
• Enhance knowledge base, build skill sets & develop competencies
• Execute at speed while maintaining error free operations
• Maintain the highest standards of honesty and integrity
As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.
Job Purpose
• Insurance counselor is the local insurance specialist for Bancassurance Business to enable Insurance objectives of the cluster/CBG branch location allocated.He/ She would be directly responsible for achieving the insurance revenue target for the branch / cluster.
Key Accountabilities
• Accountable for achieving monthly & annual Banca sales targets, as agreed. Target comprises of New Business revenues, Renewal income target and the General Insurance revenue target.
• Ensure proper implementation & execution of insurance strategy for month for the branch and sourcing of Insurance proposals through the Tablet application.
• Ensure implementation at the Branch the timely sessions and attendance of eligible participants for knowledge / skilling sessions of AKASH for the front line sales team.
• Prospect list identification with RMs basis the strategy for the month through Joint sitting with TLs.
• Working with Team Leaders and Micro Marketing Managers to execute business development activities as per the monthly plan aimed at generating insurance prospects, and follow by action plan to convert the prospects to clients of insurance.
• Ensure proper sales spread between products mix aimed at maximizing revenue earnings of Bancassurance products and also creating a sustainable revenue flow for the branch through renewals.
• Sustained increases in insurance penetration of existing through cross sell and up sell of insurance products including Online insurance plans.
• Drive and deliver a radical improvement in customer service in the local market which is reflected in CSS score of 4.20 or above for insurance products.
• Ensure highest levels of persistency by facilitating timely collection of renewal premium and enable client contact management for insurance clients.
• Timely resolution of client complaints on insurance and escalation of the same to insurer through the Bancassurance team.
• Ensure regulatory compliance by timely IRDA Certification & Renewal of Certificates of sales staff as Specified Person for DBS as a Corporate Agent.
Job Duties & Responsibilities
• Core responsibility of DBS Insurance Counselor is to ensure alignment of self and Aviva ICs on the execution of 5 key levers as per the 2015 Banca strategy at DBS Branches.
• Demonstrate the inputs at the Branch with an average of minimum of 3 insurance calls per day for the month.
• Facilitate IRDA certification of new joinees within 3 months of their joining DBS and track for timely renewal of certificates.
• Facilitate product & KYC/AML training for new joinees within 1 month of their joining DBS.
• Initiates identification and development of new business segments and geographical areas to generate business opportunities
• Manage customer’s issues on service or insurance needs. Escalate to Banca team if required.
• Ensure training & briefing on all product launches & upgrades at the Branch.
• Keep attuned to the current economic and financial markets so as to be current and proficient in attending to customers’ queries and update Front line sales on the same.
• Facilitate TRM activation through the referral of On-line insurance products of the insurer to enable mindshare of TRMs.
• Ensure internal & regulatory compliance and adherence to internal DBS Sales process.
• Track and review insurance penetration of client base for RM by identifying prospects from base and cross selling to existing DBS clients.
• Facilitate customer segmentation for insurance products and help in specific sales pitches to respective segments through the Tablet application developed by the insurer.
• Ensure follow up for renewal premiums to increase persistency and subsequent renewal revenues.
• Ensure that call out to clients are made post insurance sales within 45 days of issuance to check for policy document receipt and address clarifications if sought.
• Undertake frequent competitor analysis so that DBS product suite is in line with (or ahead of) competing banks / insurers. These updates to be shared with front line team and Banca team at regular intervals.
Required Experience
• Minimum 10 years of experience in HNI Sales / Wealth Management / Private Banking segment.
• Sound understanding of financial planning and wealth management products in India
• In-depth knowledge of local market and competition.
• AMFI / IRDAI / FEDAI certified candidates with BCSBI certification would be an added advantage
Education / Preferred Qualifications
• Graduate / Post Graduate with MBA in relevant field
DBS India - Culture & Behaviors
• Performance through Value Based Propositions
• Ensure customer focus by delighting customers & reduce complaints
• Build pride and passion to protect, maintain and enhance DBS’ image and reputation
• Enhance knowledge base, build skill sets & develop competencies
• Execute at speed while maintaining error free operations
• Maintain the highest standards of honesty and integrity
💡 Quick Summary
Seeking a career-building opportunity? The Senior Associate, Treasures Bancassurance Specialist, Consumer Banking Group position is now open for candidates interested in the Bank Jobs sector. This role in Kolkata offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
