A leading financial institution in Kenya is inviting applications from qualified and motivated individuals to fill the position of Business Development Officer – Medical Business (1-Year Renewable Contract) within its Bancassurance Division, based in Nairobi.
The institution, recognized for its commitment to innovation and customer-centric financial solutions, continues to expand its Bancassurance operations with a particular focus on medical insurance. This role provides a unique opportunity for professionals with experience in insurance sales, relationship management, and business development to contribute to the growth of the medical insurance portfolio and enhance non-funded income streams for the bank.
The successful candidate will be expected to work closely with branch teams, corporate clients, and insurance partners to promote medical insurance products, ensure exceptional service delivery, and maintain compliance with regulatory and institutional requirements. The position demands a result-oriented individual capable of combining analytical skills, interpersonal acumen, and strategic thinking to achieve business targets.
Job Purpose
The Business Development Officer – Medical Business will be responsible for driving the growth of the medical insurance portfolio across the bank’s branches and generating non-funded income through acquisition, cross-selling, and retention of medical policies. The role requires the incumbent to support the implementation of the medical insurance business strategy, ensuring that products and services are tailored to meet client needs while sustaining profitability and compliance.
Key Responsibilities
- Client Acquisition and Business Growth
- Prospect and acquire new clients for medical insurance products, including corporate clients, small and medium enterprises (SMEs), retail customers, and chamas.
- Actively pursue new business opportunities by identifying potential markets, initiating contact, and following up with leads to convert prospects into clients.
- Prepare and present medical insurance quotations that align with client requirements, negotiate terms, and close sales efficiently.
- Drive sustainable growth of the medical insurance portfolio across assigned branches and designated corporate accounts.
- Client Retention and Relationship Management
- Send renewal notices to existing clients and follow up to ensure policy renewals, targeting at least 90% retention of existing medical clients.
- Conduct service-level meetings with clients to review performance, address issues, and strengthen business relationships.
- Make client visits to evaluate the scope of cover, identify changing needs, and ensure policies remain relevant and adequate.
- Organize and facilitate member education sessions for existing clients, explaining policy terms, benefits, and claims procedures.
- Premium Collection and Policy Administration
- Ensure timely collection of premiums in accordance with established procedures.
- Liaise with the Finance Department to ensure premiums are properly receipted and reconciled.
- Guide clients in completing medical proposal forms and declarations accurately to ensure smooth onboarding and underwriting processes.
- Execute day-to-day branch-level operations such as policy delivery, client servicing, and compliance checks.
- Claims Support and After-Sales Service
- Assist clients in claims documentation, guiding them through the completion of claim forms, collection of required documents, and timely submission to the insurer.
- Track claims progress and ensure efficient resolution while keeping clients informed throughout the process.
- Provide post-claim support to ensure client satisfaction and manage any service recovery where necessary.
- Cross-Selling and Product Promotion
- Identify opportunities to cross-sell and upsell additional medical benefits such as wellness programs, maternity coverage, dental, and optical benefits to existing customers.
- Work with other bank departments and staff to promote complementary financial and insurance products.
- Train branch staff, Direct Sales Executives (DSEs), and Relationship Managers (RMs) on medical insurance products, helping them generate quality leads.
- Stakeholder Engagement and Collaboration
- Build and maintain productive working relationships with Branch Managers, branch staff, and Relationship Managers to enhance collaboration and generate medical business leads.
- Coordinate with insurance underwriters, brokers, and service providers to ensure efficient policy placement and servicing.
- Represent the bank in industry and client events where necessary to promote its Bancassurance offerings.
- Monitoring and Reporting
- Prepare and submit reports on portfolio performance, including new business pipeline, renewals, and retention statistics.
- Maintain up-to-date records of all client interactions and transactions in line with internal record-keeping and audit standards.
- Track market trends and competitor activity to provide insights that inform business development strategies.
- Compliance and Risk Management
- Ensure adherence to all regulatory requirements and internal policies governing bancassurance operations.
- Implement measures to safeguard the integrity and confidentiality of client data.
- Participate in internal audits and compliance reviews, taking corrective actions where necessary.
- Maintain ethical business conduct and uphold the institution’s reputation in all interactions.
- Branch Support and Operational Efficiency
- Provide technical support to branch teams in handling client inquiries and resolving operational issues.
- Ensure KYC compliance in all medical insurance transactions.
- Assist in the rollout of new medical products, ensuring that branch teams are adequately briefed and supported.
- Other Responsibilities
- Perform any other official duties as assigned by management to support the overall objectives of the Bancassurance Division.
Job Dimensions
- Financial Responsibility:
- The position does not carry direct budgetary control but significantly contributes to non-funded income generation through sales and retention of medical insurance policies.
- Responsible for ensuring revenue targets related to the medical insurance portfolio are achieved or exceeded.
Job Specifications
Academic Qualifications
- Bachelor’s Degree in a Social Science or related field.
Professional Qualifications / Membership to Professional Bodies
- Relevant professional qualification such as Certificate of Proficiency (COP), Insurance Institute of Kenya (IIK), Diploma in Insurance (DIP), or Chartered Insurance Institute (CII).
- Membership in a recognized professional body within the insurance industry.
Work Experience Required
- At least three (3) years of relevant experience in a similar role within the insurance or financial services sector, preferably in medical insurance or bancassurance.
Competencies
- Strong leadership skills and the ability to motivate teams to achieve set targets.
- Executive disposition with the ability to engage effectively at multiple organizational levels.
- High level of personal integrity and professional ethics.
- Excellent negotiation, communication, and interpersonal skills.
- Strong analytical and problem-solving abilities.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
Personal Attributes
- A customer-focused mindset with a commitment to service excellence.
- Proactive approach to identifying business opportunities and providing solutions.
- Demonstrated ability to build and maintain strong professional relationships.
- Detail-oriented with sound judgment and decision-making capability.
Work Environment and Conditions
- The role is based in Nairobi, with frequent travel to assigned branches and client sites within the region.
- It requires flexibility and adaptability to a dynamic work environment, with occasional extended working hours to meet business demands.
Reporting Structure
- The Business Development Officer – Medical Business will report to the Bancassurance Manager or designated supervisor within the Bancassurance Division.
Performance Indicators
- Achievement of medical insurance sales and retention targets.
- Growth in portfolio size and profitability.
- Level of client satisfaction and service quality.
- Compliance with regulatory standards and internal policies.
- Accuracy and timeliness of reports and documentation.
Career Progression
The role provides opportunities for professional growth within the Bancassurance or insurance business unit, with potential advancement to senior business development or managerial positions based on performance and experience.
Application Details
Interested candidates who meet the above requirements are invited to submit their applications online. To apply, visit the bank’s official website at www.imbankgroup.com/ke, navigate to the careers section, and apply for the position.
Applications should be submitted as soon as possible and not later than 10th October 2025.
Only shortlisted candidates will be contacted.
