Vishal Wadekar

Digital Banking (April 24 till date)

• Leveraged market research to identify suitable digital payment solutions for payouts and collections, increasing efficiency of team.
• Streamlined central digital team processes, automating solution delivery tasks, resulting in a reduction in turnaround time (TAT).
• Developed a marketing plan to drive product adoption, achieving a increase in user penetration.
• Conducted customer outreach via phone, email, and in-person meetings to gather feedback and inform product improvements.
• Generated new business opportunities through strategic marketing initiatives.

Fees Base Business - TPPD Insurance (Feb 20 till Mar 24)

• Pioneered comprehensive product strategies for TPPD insurance, including market research, roadmap development, and lifecycle management.
• Led cross-functional teams in process improvement initiatives, identifying inefficiencies and implementing solutions that achieved cost savings to team.
• Managed end-to-end project lifecycles, ensuring successful delivery within budget, timeline, and quality parameters.
• Collaborated effectively with stakeholders, customers, and internal teams to define project scope, objectives, and gather requirements.
• Mitigated project risks through proactive identification and implementation of risk mitigation plans.
• Analyzed product requirements, defined specifications, and ensured successful implementation with development teams.
• Monitored project progress, tracked KPIs, and prepared comprehensive status reports for stakeholders, keeping them informed on milestones and deliverables.
• Championed continuous process improvement initiatives across departments, utilizing data insights to drive operational excellence.

• Owned the entire product lifecycle of Third-Party Insurance (General & Health) products, from concept to launch, ensuring alignment with business goals and market trends.
• Cultivated strategic partnerships with insurance companies, driving sales penetration through favorable terms and competitive third-party offerings.
• Partnered with the sales team to develop winning strategies that significantly increased third-party insurance sales within the bank's vertical.
• Leveraged market research and competitor analysis to identify niche growth opportunities and stay ahead of market trends.
• Spearheaded strategic projects to enhance product offerings, expand market reach, and elevate overall Bancassurance channel performance.
• Championed rigorous compliance with all relevant regulations, proactively resolving compliance issues and mitigating potential risks.
• Analyzed key performance metrics and sales data to evaluate product effectiveness and optimize marketing strategies.
• Empowered the bank's sales team with comprehensive training, equipping them to sell third-party insurance products effectively.
• Collaborated with the marketing team to create targeted marketing campaigns and promotional materials, driving product awareness and boosting sales.
• Actively gathered customer feedback to continuously refine product features and offerings based on evolving needs and preferences.
• Provided crucial support throughout project initiatives by identifying and analyzing business needs/processes. Additionally, created and analyzed "as-is" and "to-be" workflows and roadmaps, ensuring alignment with business objectives.

• Led the Retail and Group Insurance product portfolio, ensuring market competitiveness and relevance through strategic management.
• Developed and executed high-impact sales and distribution strategies to achieve business targets and revenue growth within the Bancassurance channel.
• Forged and maintained strategic partnerships with SBI Banks, collaborating to generate significant business opportunities and maximize sales potential.
• Leveraged market research and competitor analysis to uncover customer needs, market trends, and opportunities for product innovation and enhancements.
• Spearheaded product launches, training programs, and marketing initiatives, empowering the Bancassurance team to effectively promote insurance products.
• Analyzed sales performance data, identified improvement areas, and implemented corrective actions to achieve sales objectives.
• Cultivated strong relationships with key stakeholders, internal teams, and SBI Bank representatives, ensuring seamless operations and customer satisfaction.
• Championed strict adherence to regulatory guidelines and compliance requirements across all Bancassurance activities.
• Provided leadership and mentorship to the Bancassurance team, fostering a high-performance culture and continuous improvement.
• Drove business growth by identifying new business opportunities, expanding market reach, and introducing innovative product offerings.

• Led Sales & Distribution activities within the Bancassurance channel, specializing in Retail Insurance products.
• Developed and implemented data-driven sales strategies to maximize business opportunities and achieve sales targets for Retail Branch Banking.
• Built strong relationships with HDFC Bank's Specified Persons, collaborating to drive business growth and increase bank-wide insurance product penetration.
• Spearheaded product promotion initiatives and training programs, equipping the sales team with the knowledge and skills to effectively sell new insurance products.
  Leveraged market research and competitor analysis to uncover customer needs, market trends, and product enhancement/differentiation opportunities. Additionally, maintained awareness of competitor insurance offerings in banks.
• Analyzed sales performance data, tracked key performance indicators (KPIs), and provided actionable insights to optimize sales productivity and efficiency.
• Championed exceptional customer relationship management by meeting with customers, addressing inquiries, and providing prompt support for a seamless customer experience, fostering opportunities for cross-selling insurance products.
• Ensured rigorous compliance with all regulatory guidelines and requirements across all Bancassurance activities.

• Drive Partner Sales Team Activation, actively engage with partner branch staff to drive activation of the partner sales team and lead generators.
• Establish Sales Discipline and Rigor, implement discipline and rigor in daily sales activities to consistently achieve sales targets and maximize revenue generation.
• Analyze Team Performance regularly review and analyze team performance data to identify gaps and opportunities for improvement, and implement corrective actions as needed.
• Enhance Team Capability, conduct regular training interventions to enhance team capability, ensuring continuous development and growth of team members.
• Organize and Execute Sales Campaigns, plan, organize, and execute sales campaigns, product launches, and training sessions at partner branches to boost product awareness and sales performance.
• Ensure adherence to end-to-end business processes within specified timelines, maintaining operational efficiency and quality standards.
• Monitor and ensure compliance with regulatory requirements, safeguarding business operations and customer interests.
• Promptly address queries and complaints, providing effective resolutions to maintain high customer satisfaction levels.
• Take proactive measures to prevent adverse customer experiences and implement corrective actions when necessary.
• Cultivate and maintain strong relationships with partner branch staff to foster collaboration and enhance overall business productivity.

• Expand Agency Sales Network, regularly acquire new agents for the organization to expand our agency sales network.
• Track, activate, and nurture agents to ensure they are licensed and achieve productivity targets.
• Solicit General Insurance Products: Solicit general insurance products through partner always lead and maintain a healthy flow of leads.
• Build and maintain strong relationships with agents, providing them with training and support to enhance their insurance book size.
• Coordinate with other departments, including Underwriting, Claims, and Operations, to ensure efficient agency channel functioning.
• Conduct regular meetings with agents, IOCL, Lead Providers, and intermediaries, maintaining organized records of interactions.
• Develop and execute plans to promote insurance through Point of Sale (POS) at IOCL locations.