What Is IMF ( Insurance Marketing Firm)
imf Channel: IRDA Regulation on IMF was released on Jan 2015, where companies which are LLP / Pvt limited / cooperative societies were allowed to distribute financial products. IMFs are allowed to deals in Insurance of 6 companies (2LI , 2GI , 2 HI), mutual funds, banking products, post etc.
the pool of imf s primarily comprises of top Agents in Insurance, Wealth Managers, Loan DSA, CA, Ex – employees from financial services with an existing customer base.
Job Summary: Implement the strategy to setup and develop the IMF Channel in the designated territory. Setup and manage a pool of 10-15 Insurance Marketing Firms managing a revenue stream of around 2 cr.
Function:Sales / Business Development / Client Servicing
a. We would prefer to hire employee from Agency or Distribution or both but with minimum 2 yrs experience.
b. Age Limit – 32 to 38 yrs
c. Total Experience – 5 to 10 yrs
d. Relationship Manager / Wealth Manager from banking with experience from Agency / Alternate Distribution channel will be preferred.
f. salary – 5 Lacs to 7 Lacs ( Depending on last ctc – Salary not a bar for deserving candidate )
Key Responsibilities/ Key Deliverables:
Understand the IMF regulation, value proposition & registration process Independently implement the IMF acquisition plan in the territory
Identify potential leads and sources for prospective imfs, coordinate with HO for referred leads
Connect with prospects & Organize seminars for imf acquisition
Ensure conversion of leads through effective pitch of imf value proposition Ensure quality of IMFs in sync with desired profile Enable the setup of IMF of agreed prospects
Understand all regulatory requirements and manage the IMF registration process with irda
Oversee technology support to enrolled imfs Manage performance of setup imfs in steady state
Develop understanding of products & coach IMF staff on product USPs
Implement a performance management and rewards system
Drive IMF profitability through improving productivity of imfs sellers & controlling cost of sales
Provide marketing, training and operational support to imfs
Manage attrition of imf s through revival or replacement Drive quality of business sourced from imfs
Ensure right product mix and control key quality measures such as leakage and persistency
If you find the job profile as per your needs then apply