Bharti-AXA Life Insurance (BALI) and Bharti-AXA General Insurance (BAGI) are joint ventures bringing together the expertise of the Paris-headquartered AXA insurance Group and of Bharti Enterprises, one of India's leading business groups with interests in telecom, agricultural business, financial services and retail.
AXA launched in 2016 AXA Emerging Customers, a business initiative dedicated to scale up inclusive insurance solutions for the emerging middle class and drive financial inclusion in Asia, Africa and Latin America. The specific protection needs of this emerging middle class lead the organization to reinvent insurance by simplifying products, leveraging technology, and building partnerships to better serve AXA clients. At end-2018, this initiative protected over 9 million clients in ten countries, contributing to financial inclusion and development through a commercial approach.
Bharti AXA Life and Bharti-AXA General Insurance spearhead this global strategy and have decided to work together to develop customer-focused protection solutions encompassing inclusive life, health, property insurance and assistance services.
About the Job:
The Head of Emerging Customers is expected to scale up the business in the financial inclusion space (more than 5 million customers protected through partnerships with payments banks, inclusive fintechs, microfinance institutions, regional and cooperative banks and others).
The role will be responsible for tailoring the organization's offerings to this segment in collaboration with the partnerships, products and operations teams of Bharti-AXA Life and GI. This ranges from consumer insights to product design, distribution strategy and partnership building. The role will report to the Chief Distribution Officer for Retail in BAGI and to the Chief Bancassurance & Partnership Distribution in BALI. It will benefit from sponsorship of the CEOs as well as from operational support from the global AXA Emerging Customers team on partnership development, product and process design, innovation, etc.
Tasks and Responsibilities:
Playing a leading role in defining and driving Bharti-AXA’s strategy to deliver on emerging customers and financial inclusion in India (priority segments, products to serve them, channels to reach them, differentiation vs competition etc.).
Being the face of the Emerging Customers business vis-a-vis partners and other stakeholders, in collaboration with partnerships teams, to build tie-ups with relevant players and drive the collaboration with them over the long-term.
Bringing customer expertise to define the product lifecycle from planning to implementation in coordination with cross-functional teams (Product and Underwriting, Legal & Compliance, Operations and IT) according to the realities of this client base (e.g. simplifying products terms and conditions, tailoring claims processes etc.).
Becoming the keystone for collaboration with the AXA Emerging Customers central team to benefit from global specialist support in terms of strategic market analysis, customer research, product design and pricing, distribution tie-up toolkits, marketing for this customer segment, value-added services beyond insurance, etc.
Bachelor’s degree in business, marketing, or insurance field is preferred.
Creative mind, good at thinking ‘outside the box’, with a real desire to understand the entire insurance value chain and challenge the way insurance is traditionally conducted.
Strong project management skills, ability to focus, prioritize, manage and follow-up.
Understanding of the Indian financial inclusion landscape and its actors.
Strong interpersonal and communication skills both verbal and written.
Customer research and human-centered design skills or a desire to learn on this front.
Candidates for this role should be able to think outside of the box, possess an eager and creative mindset to assess the needs of existing customers and prospects and offer insurance solutions. They need to have an entrepreneurial drive and the ability to obtain followership both inside the organization and outside with partners and other stakeholders. Understanding of the evolutions of financial inclusion in India is at the core of the ambition.