Health Insurance and BFSI
Health Insurance and BFSI
A relationship manager looks after important customers of a bank or financial firm, understanding their needs and offering products such as loans, investments and insurance.
As a Customer Relationship Management (CRM) Executive, you will be involved in the process of sales, customer services, business development, recruiting, marketing, or in similar other processes in a business. You will be responsible for managing interactions with the existing or potential customers as well as manage relationships with the existing customers of the company in which you work.
You will be responding to phone calls from existing and potential customers of a company; chat with the customer using a web application or mobile application, or over social media; and you will respond to emails. You will do one or all of these, depending upon your responsibilities, for resolving queries, problems, recording complaints of the customers who are directly or indirectly engaged with your company and for receiving feedback from the customers.
Depending upon your work role, you may also be responsible for making calls to potential customers for generating leads. Lead generation is a process of generating the interest of a potential customer about the products or services that your company offers.
Depending upon your work role, you may also be responsible for making calls for the purpose of promotion or sales of products and services that your company offers. You may also be responsible for handling and resolving the queries of customers who walk-in at the shop/showroom/relationship centre/repair centres. You will be either working as a Non-Voice Process Executive or as a Voice Process Executive.
Now you must be wondering what is Non-Voice Process and Voice Process?
In the Non-Voice process, you will be responsible for answering and resolving queries related to products or services your organization is dealing with over web-chat, mobile chat, social media interactions, and emails. On the other hand, in the Voice process, you will be responsible for answering calls of the customers for resolving queries, problems, recording complaints, receiving feedback, etc.
Non-Voice Process Executives respond to queries by either using preexisting email templates or by drafting customized emails. Whereas Voice Process Executives make or answer calls for which the responses are primarily scripted, basic, and routine with the assistance of a computerized system. Nowadays, many types of software are available for generating automated mails and replies to the queries of the customers received over emails and web-chat, mobile chat, or social media interactions.
What is CRM?
Customer Relationship Management is a kind of approach that is required in a company for managing the interaction of the company with various existing as well as potential customers. CRM is a process which leads to customer satisfaction and which will eventually lead to business growth. In simple terms, CRM is an art of studying the needs and meeting the expectations of the potential as well as current customers by providing them the right solution for their queries or complaints.
In CRM for improving the business relationship with the customers and also for knowing the history of the customer, data analysis techniques are used. Data analysis is a process in which inspection, transformation, and modeling of data is done to discover useful information, informing conclusion and supporting decision-making.
Key Roles and Responsibilities
As a CRM Executive, you will be engaged in all or some of the following key roles and responsibilities:
You will be required to answer phone calls of customers and greet them.
You will be required to answer and resolve queries of customers as well as complaints related to products or services quickly and efficiently over web-chat, mobile chat, social media interactions, phone calls, and emails.
You will be required to check the recorded data of the customers of your company to resolve their queries or the complaints of the customers.
You will be required to update customers about their complaint ID, complaint status, etc.
You will be required to understand the needs of the customer and address them accordingly.
You will be responsible for updating the customer about the latest products for increasing the sales of the organization.
You will be required to build and maintain a profitable relationship with your customers.
You will be required to meet your managers, internal communication team members, and content development team members, to integrate or modify the communication script.
Social: You should have interests for Social Occupations. Social occupations involve helping or assisting others; these involve working with and communicating with people to provide various services; these may involve educating and advising others.
Conventional: You should have interests for Conventional Occupations. Conventional occupations involve repetitive and routine tasks as well as fixed processes or procedures for getting things done. These occupations involve working more with data, systems, and procedures and less with ideas or creativity.
Enterprising: You should have interests for Enterprising Occupations. Enterprising occupations involve taking initiatives, initiating actions, and planning to achieve goals, often business goals. These involve gathering resources and leading people to get things done. These require decision making, risk-taking, and action orientation.
Knowledge
Customer Service: Knowledge about how to provide customer services. This includes understanding customer needs, helping customers to use products and services, answering customer queries, handling customer complaints and grievances, and evaluating customer satisfaction.
English Language: Knowledge about English grammar, words, spelling, sentence construction, using English to communicate with others, reading in English, etc.
Vernacular Language: Knowledge about the grammar, words, spelling, sentence construction, etc. of a local language and using the language to communicate with others, reading, etc.
Skills
Active Listening: Giving full attention to what other people are saying, understanding the points being made by others, asking questions, etc.
Service Orientation: Skills in or keen interest to help and assist people.
Reading Comprehension:Skills in understanding written sentences and paragraphs in work related documents.
Persuasion: Skills in persuading others to change their minds or behaviour.
Time Management: Skills in prioritizing work, managing time effectively.
Abilities
Oral Comprehension: The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression: The ability to communicate information and ideas in speaking so others will understand.
Speech and Language Recognition: The ability to identify and understand the speech and language of another person.
Near Vision: The ability to see details at close range (within a few feet of the observer).
Problem Sensitivity: The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Written Comprehension: The ability to read and understand information and ideas presented in writing.
Written Expression: The ability to communicate information and ideas in writing so others will understand.
Personality
You are always or mostly organised in your day-to-day life and activities.
You are always or mostly careful about your actions and behaviour.
You are always or mostly a soft-hearted person.
You always or mostly trust others.
You are always or mostly helpful to others.
You are always calm or generally remain calm in most situations.
Banks, insurers, wealth firms and NBFCs hire graduates as relationship managers.
Indicative only. These ranges are estimates compiled from general industry knowledge and public pay surveys, not audited figures. Actual pay depends on the employer, city, qualification, certifications and experience. Check current job listings before deciding.
| # | State | Main hubs | Demand |
|---|---|---|---|
| 1 | Maharashtra Mumbai, Pune, Nagpur |
Mumbai, Pune, Nagpur | High demand |
| 2 | Delhi NCR Delhi, Gurugram, Noida |
Delhi, Gurugram, Noida | High demand |
| 3 | Karnataka Bengaluru, Mysuru, Mangaluru |
Bengaluru, Mysuru, Mangaluru | High demand |
Indicative ranking of where employers and training institutions in this field are concentrated — not an official count of vacancies. Check the National Career Service portal (ncs.gov.in) and the government job portal for current openings.
Government job portal: National Career Service (ncs.gov.in)