G20 ID 202, INDIA

THE NEW INDIA ASSURANCE CO. LTD. MUMBAI (H.O.)

IBD CELL: HO: CIR No.: 01 IBD ADMIN: 832

August 30,2023

All Regional Offices

Sub: Formation of Key Business Offices

(KBOs)
We have been regularly receiving the queries
from ROs in connection with the newly
conceptualised KBOs. For the sake of clarity, we are issuing the following guidelines:
KBO is anew concept for providing quality service to
Corporate Clients in the Rs. 1.00
Crores to Rs. 3 crores category.
The existing DO of the RO doing Corporate
Business/nominated Brokers Office is/was the
preferred choice for selection of KBO as in such offices
trained skill set is already
available. However, ROIC's decision is/would be final.
The In-charge of the KBO is to be in the Scale 3
or 4 cadre.
Depending upon the volume & potential of business, Regional
In-charge can consider
allocating 2-3 quality operational executives (including the existing
the event of increased volume of cashier)in the KBO. In
business, exception could be allowed for allocating
additional operational executive.
KBO In charge would report to RM(BDI) of the RO
&hence credit of KBO's premium would
also accrue to RO.
All Claims/Accounts/HRM related work of the
KBO would be attended by RO as in the
case of other BusinessOffices under the RO,
however, keeping in view the unique
requirements of Corporate Clients, a dedicated claims team at RO for KBO
been recommended by the consultant EY. claims have
The clients of INR 1-3 crores category
(Brokers/Direct) would be transitioned to the KBO
from other operating offices of the RO on
renewal.
The existing retail business of the KBO to be
to cause least disruption to all types of
transitioned to nearest operating office so as
intermediaries.

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 G20 HUT 202 INDIA
THE NEW INDIA ASSURANCE C0. LTD. MUMBAI (H.0.)

KBOs shallfocus on Mid Cap projects with premium between Rs. 1 crore to Rs. 3 Crores
and also handle all requirements of selected medium brokers.
It has been decided to entrust Higher Underwriting Acceptance authority to KBOs, i.e
approximately equal to 2r3d of the Underwiting Acceptance Authority of Regional Office.
The Regional Incharge can issue the advices for authority delegation at their end.
The Marketing team of KBOS also called Key Accounts Manager (KAM) should be only
from Scale 1, 2,3 and 4. However, Key Accounts Managers designated/posted from
Scale IOfficers in administration must have minimum experience of three (3) years in the
Scale Icadre &preferably with insurance qualification of Associate or Fellowship from
Insurance Institute of India. Needless to mention, KAM should not be senior to the officer
in charge of the KB0.
To begin with only one KAM will be allowed for each KBO. In addition to Key Accounts
Manager (KAM), there would be another designation KAM (Administration) & KAM
(Administration) would be entitled for the same benefits as applicable to Broker
Relationship Manager (Administration).

The Key Accounts Manager shallfocus on medium corporates and medium brokers. The
KAMS will be treated at par with Relationship Managers for all purposes.In other words, the
KAMs would be considered as entitled Category (like erstwhile BMs/SBMs/DMs/SDMs) for
Phone
all purposes including Sanction of vehicle under conveyance scheme 2011,Mobile
Expenses Reimbursement, Entertainment allowance,'Entitled Category' for the purpose of
allotment of Residential accommodation/leased accommodation, Providing of Laptops, any
other benefit payable to Medium and Large Office (erstwhile DO/BO) In-charges etc.
a period of
All newly designated/posted Key Accounts Managers shall be on probation for
six (6) months.
performance of newly
At the conclusion of six (6) months probation period, the
and the
designated/posted Key Accounts Manager would be reviewed at KBORO
recommendations of RO In-charge would be placed before General Marnager
(Overseeing)and General Manager (Marketing) for final decision on the confirmation of the
concerned Key AcCounts Manager.
months, the performance of the
In case, after the stipulated probation period of six (6)
probation period could
officer as Key Accounts Manager is not found satisfactory, then the
not improve, the
be extended by another six (6) months and if the perfomance still does 2
 THE NEVW INDIA ASSURANCE CO. LTD MUMBAI (MO)

officer wOGld bo posted bnck to stministration which

rmay include transfer to a dferer
office/Centre perthe rnoeds f the Ompany
as
In thecase of Key Accounts
Manyers
or Large Business Office ln chsrgesdesignated/posted
frorn eristing confirrned Mo
(erstwhile Branch or Divisional In charyes)
Relationship Managors on prorhon orotherwise, the above mentioned
of six (6) would not be applicabls. In this probation petk
regard, the gap up to 90 days between posting as
Medium or Large Business OtficA
Incharge (erstwhile Brarnch/Dvisioral Ir
charge)/Relationship Managef Key Acounts Manager would not be considerer as
and
gap and hence, probation period woud not he
applicable in such cases too.
Similarly, in case of officers who srs presently posted in KBOs as
"Key Accourts Manayet
Administration"(a job profile which provides for payrnent of linited conveyance
and are subsequently designated as Key allcware)
Accounts Managers after successful stirt as Kr
Accounts Managers-Adrninistration, th6 six (6) months'
probation period would not ta
applicable, if the period served as "Ksy Accounts
(6) months &in case this
period
Manager-Administration" is more than siz
is less than 6 months, the
protbationn psriod as Key Accounts Manager would be reduced to
the extent of period (in
cornplstsd months) served as "Key Accounts Manager
Administration".Further it be notsd that during such probation period, the officers
designated /posted as KAMs would nsither be entitled for
purchase of vehicle under the
Company's Scheme, nor wil they bs treated as 'Entitled
allotment of Category' for the purpose cf
Residential/Accornnodation/leased
probation KAMs would be entitled for all accommodation. However, during
Business Office
benefits/expenses as payable to Mediun &Large
In-charges (erstvwhils Branch/Divisional
during probation. In-charge)/Relationship Manager
Trust that the above guidelines will solve all your
queries with regard to KBOs. This circular is
being issued with the approval of our CMD

(Jitender Mehndiratta)
General Manager