Executive Officer – RM Bancassurance – UPI Department

EFU Life Assurance Ltd. seeks a dedicated Senior Officer or Executive Officer for the Relationship Management Bancassurance Unit within the UPI Department. This role focuses on managing bancassurance partnerships and optimizing insurance product offerings through deep understanding of banking and insurance collaboration. The candidate applies skills in relationship management, insurance product knowledge, and cross-selling strategies to drive sales and enhance client satisfaction. Operating within the UPI Department, the officer facilitates seamless integration and utilization of UPI payment systems to enable real-time payment processing, ensuring efficient and secure transactions that support bancassurance sales channels. The ideal candidate has 1 to 2 years of industry experience and plays a pivotal role in managing day-to-day bancassurance activities without directly managing a team. They liaise effectively with multiple stakeholders including banks, insurance providers, and clients to foster strong business relationships. They apply risk assessment and risk management frameworks to safeguard transactions and align with company policies. Additionally, they contribute to the development of innovative insurance products that meet market demands and collaborate on sales strategies aimed at maximizing revenue growth and client engagement.
Responsibilities

Develop and maintain strong relationships with banking partners and internal stakeholders to support bancassurance objectives.
Implement and manage UPI payment gateway integration to facilitate real-time payment processing for bancassurance transactions.
Identify cross-selling opportunities to increase the penetration of insurance products across bank customers.
Conduct comprehensive risk assessments to ensure all insurance sales and transactions adhere to organizational and regulatory risk management standards.
Collaborate in designing and developing customized insurance products that cater to the specific needs of bancassurance clients.
Monitor and analyze sales performance metrics to refine sales strategies and achieve revenue targets.
Provide expert guidance on insurance product features, benefits, and processes to support customer education and onboarding.
Manage client accounts, ensuring all inquiries and issues related to bancassurance policies and transactions are resolved efficiently.
Engage with stakeholders including banks, insurance brokers, and regulatory bodies to facilitate smooth business operations and regulatory compliance.
Prepare detailed reports and presentations for senior management outlining bancassurance performance, market trends, and operational challenges.
Support the implementation of the risk management framework specific to bancassurance operations within the UPI payment context.
Ensure all sales and relationship management activities comply with legal, regulatory, and company policies relevant to bancassurance and UPI transactions.
Stay updated with the latest trends in bancassurance, insurance product development, and UPI technology to recommend continuous improvements.
Coordinate with IT and payment system teams to troubleshoot and resolve any operational issues related to UPI transactions impacting bancassurance sales.