Career Information > BFSI > General Manager, Insurance

Last Updated on :16/10/2023
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General Manager, Insurance

Aliases: Vice President, National Manager

Industry/Sector(s): BFSI

JOB DESCRIPTION ¹

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, managers, etc.
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

WORK ENVIRONMENT ^{1, 2}

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

Organizations usually work for 5/6 days a week and 8/9 hours everyday. This may vary from organization to organization
Shift system is not available
Overtime may be involved

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 may vary from organization to organization

EDUCATIONAL QUALIFICATIONS AND TRAINING ⁵

Preferably, Postgraduate with any specialization

KEY COMPETENCIES ^{1, 5}

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 statistics
Proficient in using software like MS Excel, MS PowerPoint, CRM, etc.
Well-versed with all the features of various insurance policies
Knowledge of calculating premiums and amounts of coverage
Proficient in planning, budgeting and measuring results
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
Proficient in setting sales projection and pipeline processes

DESIRABLE COMPETENCIES ^{1, 5}

Customer-centric
Good communication skills
Leadership skills
Strong interpersonal skills
Ability to work in a team

AVAILABLE SKILL TRAINING AND LEARNING INSTITUTES

Universities across India

AVAILABLE SKILL TRAINING SCHEMES/SCHOLARSHIPS

For scholarship and schemes, use further links like:

http://www.isb.edu/pgp/fees-financing/Scholarships

SAMPLE OF TRAINING AND LEARNING COURSES

http://www.isb.edu/pgpmax/programme-overview/curriculum

CAREER PROGRESSION PATH ⁴

Chairman

↑

Director

↑

Executive Director

↑

General Manager, Insurance

↑

Assistant General Manager

↑

Senior Manager

↑

Manager

↑

Insurance Agent

The progression is indicative

EXPECTED EARNINGS ^{3, 5}

For candidates with 3-5 years of experience - Rs 16,000 to Rs 32,000 per month
For candidates with 10-19 years of experience or more - Rs 2,00,000 to Rs 2,10,000 per month

These figures are indicative and subject to change

REQUIRED WORK EXPERIENCE ⁵

Generally, 3 to 5 years of prior work experience is required

PROBABLE EMPLOYERS ⁵

Public and private insurance companies across India

KEYWORDS

General Manager
Vice President
National Manager

OCCUPATIONAL CODES AND STANDARDS

Standard	Code	Description
NCO 2015	1211.0200	General Manager, Insurance
ISCO 2008	1211	Finance Managers
NIC 2008	65110; 65120	Life insurance; Non-life insurance
QP Reference	Not available	Not available
NSQF	Not available	Not available

REFERENCES

1	National Classification of Occupations Division 1

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