Key Pointers For The RDM Role - TIED

Key Pointers for the RDM role – TIED
Life Insurance Industry
 There is huge Potential in Insurance Sector because Insurance is a business dependent

on savings and not expenditure & India is saving immensely & Insurance is one product
that can cater to all these needs/requirements
 Insurance industry has grown tremendously from 34 000 Cr in 2001 to 2 Lacs Cr in 2012
and as we speak, this figure has only gone up in the last FY
 Vast Market – Only 3% of the total population is insured which shows huge untapped
market potential
 FDI IN Insurance – the govt. has opened financial sector to even more foreign
investment (49%) which signifies more players in the market & more growth
opportunities.
 Online model – Enormous growth is expected due to the online model available which
will help in more market penetration.
 After demonetization, people are more willing to invest in the financial sector rather
than gold or real estate so more growth opportunities
About Kotak Life Insurance:
 Kotak Life Insurance grew by 28% last year against the industry growth of 27%.
 Kotak Life is No 1 in Agent Recruitment among all private life insurers in FY’15-16 as on
December 2015 beating companies like SBI and Reliance.
 Golden Peacock Awards are extremely tough to win and are regarded as the Gold Standard in
Corporate Excellence recognition. Also KLI Training Team has won this prestigious award for 2
years in a row (2014 and 2015)
 KLI was adjudged India’s Most Trusted Private Life Insurer by Businessworld Survey of India’s
Most Respected Companies in October 2013.
 Claim settlement ratio of 97.5% - One of the highest in the life insurance industry
 Kotak Life Insurance won Execution Excellence Award 2013-14 for best execution by Franklin
Covey.
 Kotak Life Insurance IS THE ONLY PRIVATE LIFE INSURANCE COMPANY IN INDIA to remain
profitable for 8 years in a row consecutively. (right from 2008-09 despite market crash and
regulatory changes)
 Kotak Mahindra Bank – ING Vysya Bank Merger - The biggest consolidation of one bank into
another. Combined Kotak Mahindra Bank will be the 4th biggest private bank with 1,214
branches, 1,794 ATMs, nearly 10 million customers and 39,720 employees.
 Also, KMB has also bought out the foreign stakes in Kotak Old Mutual Life Insurance making
KLI the only wholly Indian owned insurance company in the country.
 In a recent article dated 3 May, 2018 published in LiveMint, it was mentioned that the
market valuation of KMBL increased because of the great performance by Kotak Life
Insurance in FY 17-18. The insurance operations reported a profit growth of 36% in the last
FY.
RDM role, Earning Potential & benefits
This is not a typical sales manager profile but a sales leader profile where you have to recruit
advisors, coach & develop them & generate business through them.
 Earning potential is huge as they offer the best incentives structure in the industry for
RDMs.
 Incentives are based on your inputs/efforts as well as output. An RDM on an average can
earn Rs 2-3 Lacs additional as incentives over & above his salary.
 They have a defined career track & promotion criteria is not time bound. As soon as you
achieve your goal sheet, you will get promoted to next level & will also get a hike of 12%
on your CTC.
 Some of the top RDMs have earned as high as 7-8 Lacs incentives annually.
 RDMs are also eligible for LTIP (long term incentive plan) where they can earn a
payout as high as 80K in just 6 months on achieving certain business criteria apart from
monthly & quarterly incentives on the same business.
 For this company provides you a structured training program on insurance industry,
products etc. 9 days of classroom training (NEEV) & another 10-11 days of on the job
training done by manager.
 Dedicated trainer in every branch. In the RDM Onboarding all the stakeholders from all
the depts. (Training, Sales , Operations, HR) will be involved to ensure proper
handholding.
 An RDM is also eligible for other benefits like Mediclaim of 4 Lacs for self & family
(upon confiration), PF, Gratuity, Group term life Insurance(applicable from day 1),
provision for employee emergency loan.
Training Support & benefits for LAs
 The earning potential for an LA is huge in KLI. Over & above their commission, they are
also entitled for incentives, contests including foreign travel which company launches on a
regular basis.
 R&R for the advisors is done on a regional, national & international level to motivate
them & keep them engaged.
 Training support is available for the advisors as well. They even get a training allowance
on attending the training & achieving certain business targets.
 There is a structured training roadmap of 5 years for advisors. Earning potential is
huge for an advisor.
 There are growth opportunities available for them. They can either continue as a
professional advisor or become an RDM (after completion of certain business
criteria) or hire their own team of advisors & become an Agency Associate with us

Key Pointers For The RDM Role - TIED

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What are the growth opportunities in the insurance sector in India?

What are the benefits of being a Relationship Development Manager (RDM) at Kotak Life Insurance?

Key Pointers for the RDM role – TIED

Life Insurance Industry

 There is huge Potential in Insurance Sector because Insurance is a business dependent

About Kotak Life Insurance:

RDM role, Earning Potential & benefits

Training Support & benefits for LAs

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