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Job Purpose
The purpose for this role is to have dedicated insurance sales officers tasked to drive the penetration of insurance among core bank customers, foster cross-sell and revenue growth. Collaborate with key stakeholders internally and externally to optimize the bancassurance distribution channel. To implement sales plans/actions/ promotions and identify sales opportunities To ensure compliance objectives are adhered to.
Key Responsibilities
Strategy (80%)
- Drive the sales of insurance products within bank branches/segments
- Arrange for bank staff insurance product training, staff hurdles and refresher sessions
- Provide customers with comprehensive insurance consultations and solutions.
- Monitor and analyze sales performance and adjust strategies accordingly.
- Collaborate with bank management to develop and implement marketing campaigns.
- Ensure compliance with regulatory standards and company policies.
- Support the Segment/ Regional teams to ensure that insurance business is done on time, and through SBM Bancassurance Intermediary Limited
- Drive insurance penetration into the customers database
Key Result Areas in strategy
- Sustained Revenue Growth
- Customer retention
- Insurance product penetration
Compliance (10%)
- Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
- Ensures review and escalation if required of Sales administrative issues.
- Responsible for compliance with business procedure manuals
- Ensuring all claims are reported, tracked and resolved as per SLA by COE
- Ensure compliance with Snap checks process and internal audit.
Business fulfillment(10%)
- Ensure all premiums are collected from all sales as per laid down procedures in accordance with the insurance Act and SLAs with partner insurers
- Zero tolerance to non-collection
- Ensure all regional/segment insurance sales are placed through the centralized Bancassurance team to avoid revenue leakage
- Manage all aspects of premium refunds raised by sales teams
- Support customers by proposing credit arrangements such as IPF, Credit card
Knowledge: Skills and Experience required for this Role
- Sales and Marketing Skills ▪ Strong interpersonal skills to build and maintain relationships with bank partners, agents, and customers.
- In-depth understanding of health insurance products, including coverage options, benefits, and exclusions.
- Capability to provide training and support to bank staff and agents on selling insurance products.
- Ability to adapt to changing market conditions, customer preferences, and organizational priorities.
- Customer focus.
- Ethical conduct, ensuring transparency and fairness in interactions with customers and partners.
Competencies required for this Role:
- University degree, preferably in Commerce, Economics or Business Administration.
- AIIK Diploma / CII Diploma or verifiable progress toward attainment of the same.
- At least 1 year experience in Bancassurance sales.
- Understanding of and experience with Insurance products and processes
NOTE: Please send your application to [email protected]
