Sector
BFSI
Keyword

General Manager

Vice President

National Manager

Minimum ? Post Graduate (any specialization)

Minimum15-18 years of prior experience

The tasks a General Manager, Insurance is expected to perform include:

Organizing, controlling and supervising, within authority delegated

Managing one or more departments or branches of private or public organization engaged in life, fire, marine, accident and general insurance business

Increasing managements' effectiveness by recruiting, orienting, training, counselling, etc. managers

Communicating values, strategies, and objectives to managers

Developing strategic plan by studying technological and financial opportunities

Allocating resources, reviewing process and making mid-course corrections

Building company image by collaborating with customers, government, community organizations and employees

Enforcing ethical business practices

Motivating and driving sales performance

Ensuring pre-decided targets for the teams are met on a regular basis

Identifying skills gap and creating developmental plans

Ensuring implementation of developmental plans through training and other relevant activities

Communicating targets, incentive systems, policies and career growth aspects

Knowledge of principles and processes for providing customer and personal services i.e. customer needs assessment, meeting quality standards, etc.

Proficient in methods for promoting and selling products or services

Well-versed with economic and accounting principles and practices, the financial markets, banking, analysis and reporting of financial data

Knowledge of algebra, calculus and statistics

Proficient in using software like MS Excel, Power Point, CRM, etc.

Well-versed with all the features of various insurance policies

Knowledge of calculating premiums and amounts of coverages

Proficient in planning, budgeting and measuring results

Practices

Proficient in developing sales metrics and reporting capabilities that support productive, focused sales management

Knowledge of inside sales go-to market sales plan, sales dashboards, trackers, and other reports necessary to set strategies

Proficientinsettingsalesprojectionandpipelineprocesses

/

Not applicable

Customer-centric

Good communication skills

Leadership skills

Strong inter-personal skills

Dependable

Team player

Proficient in local languages

Self-motivated

Problem solving ability

Analytical thinking

It is a desk job

Need to handle a team

Local travelling is a part of this job role

Part-time work and contractual jobs are not available

Work from home option is not available

Working hours

Companies usually work for 5/6 days a week for 10/12 hours everyday. This may vary from company to company

Shift system maybe available

Is the job suitable for a candidate with special needs?This job is suitable for candidates with One Arm (OA), One Leg (OL), Both Leg (BL), One Arm and One Leg (OAL), Blind (B) and those who have Low Vision (LV)

This job is not listed as hazardous or dangerous under The Factories Act, 1948 (section 87)

Occupational hazards include strain on eyes, cervical and lumbar spondylosis, carpal tunnel syndrome, mental stress, etc.

For candidates with 10-19 years of experience or more - INR 2,00,000 to INR 2,10,000 per month

(These figures are indicative and subject to change)

Current and Future Growth of BFSI Sector in India

India is one of the fast growing economies and second most populous country in the world.

TheIndianLifeInsuranceindustry is one of the strongest growing sectors in the country with the market size of around US$ 41-billion. India is the fifth largest life insurance market with 24 life insurance companies operating across the country. As of 2012, insurance penetration and insurance density in India stand at 3.96 percent, very low as compared to other developed countries. With the increase in per capita income and growing awareness about the benefit and requirement of insurance, the Indian insurance market is expected to grow from US$66.4 billion in FY13 to US$ 350?40 billion by 2020. Thus with the expected high growth the demand for various professionals in the insurance sector is bound to increase and it is expected that insurance sector will create 0.15 million additional jobs by 2022.

The BFSI sector in India currently employs over 2.55 million people and looking at the future growth potential, it is estimated that BFSI sector will employ more than 4.2 million employees by 2022, an additional 1.6 million job creation by 2022. This indicates plenty of new job opportunities for General Manager, Insurance.

Public and private insurance companies across India

Towns and cities across India