The financial services sector continues to evolve rapidly, and institutions are placing a stronger emphasis on providing holistic solutions to their customers. One of the most significant growth areas in banking today is the integration of insurance products into traditional banking services through Bancassurance. This innovative approach ensures customers have access to tailored financial solutions under one roof, enhancing convenience while improving customer loyalty and satisfaction.
SBM Bank is a leading player in Kenya’s banking industry, recognized for its commitment to offering innovative financial products and services that meet the changing needs of individuals, businesses, and institutions. With a reputation for integrity, growth, and customer focus, SBM Bank has successfully developed strong partnerships across various sectors, including insurance.
As part of its growth strategy, the Bank is seeking to recruit two highly motivated, dynamic, and customer-focused Bancassurance Sales Officers. These positions are based in Nairobi and Kisumu regions and will play a critical role in driving insurance penetration among the bank’s existing and potential customer base.
This is an excellent opportunity for individuals who are passionate about sales, customer relationship management, and financial services. The roles are offered on a fixed-term contract of two years, providing both stability and the opportunity to make a measurable impact in a growing sector. The application deadline for these positions is September 25, 2025.
Job Details
- Position Title: Bancassurance Sales Officer (2 Positions)
- Department: Corporate & Institutional Banking
- Band/Level: Sales
- Location: Nairobi & Kisumu Regions
- Contract Terms: Fixed-Term Contract
- Contract Length: 2 years
- Application Closing Date: September 25, 2025
Job Purpose
The purpose of these roles is to strengthen SBM Bank’s Bancassurance operations by having dedicated sales officers whose responsibility will be to:
- Drive the penetration of insurance products among the bank’s core customers.
- Enhance cross-selling opportunities and generate revenue growth through Bancassurance.
- Collaborate effectively with both internal stakeholders (bank teams, management) and external stakeholders (insurance partners, regulators) to maximize the efficiency of the Bancassurance distribution channel.
- Implement sales initiatives, campaigns, and promotional activities that generate new opportunities.
- Ensure compliance with all regulatory requirements and internal processes while serving customers.
The role is both strategic and operational, with an emphasis on delivering sustained revenue growth, compliance, and seamless business fulfillment.
Key Responsibilities
The Bancassurance Sales Officers will operate in three primary focus areas: Strategy, Compliance, and Business Fulfillment.
1. Strategy (80%)
- Drive the sales of insurance products across bank branches and customer segments.
- Organize and conduct insurance product training for bank staff, including refresher sessions and staff hurdle meetings.
- Provide comprehensive insurance consultations to customers, tailoring solutions to meet individual and corporate needs.
- Monitor and analyze sales performance, identifying gaps and adjusting strategies to optimize outcomes.
- Work with bank management to design and execute targeted marketing campaigns.
- Support segment and regional teams to ensure timely and compliant execution of insurance business through SBM Bancassurance Intermediary Limited.
- Lead efforts to increase insurance penetration into the bank’s customer database.
Key Results Expected in Strategy:
- Sustained revenue growth.
- Improved customer retention.
- Increased penetration of insurance products across customer segments.
2. Compliance (10%)
- Ensure compliance with all regulatory requirements, including the Insurance Act and service level agreements (SLAs) with partner insurers.
- Review and escalate sales administrative issues where necessary.
- Maintain adherence to all internal business procedure manuals.
- Guarantee that all claims are reported, tracked, and resolved within agreed timelines.
- Ensure compliance with snap checks and audit processes.
3. Business Fulfillment (10%)
- Ensure all premiums from sales are collected in full and in line with the Insurance Act and SLAs.
- Maintain zero tolerance to non-collection of premiums.
- Oversee that all insurance sales across regions and segments are routed through the centralized Bancassurance team to prevent revenue leakage.
- Manage premium refund processes effectively and in compliance with internal procedures.
- Support customers by offering flexible payment arrangements, including Insurance Premium Financing (IPF) and credit card-based solutions.
Knowledge, Skills, and Experience
To succeed in this role, candidates should demonstrate the following:
- Strong sales and marketing skills, with the ability to drive results in a competitive environment.
- Excellent interpersonal skills for building and maintaining long-term relationships with bank staff, agents, and customers.
- Solid knowledge of insurance products, particularly health insurance, including coverage options, exclusions, and benefits.
- Ability to train and support staff and agents in selling insurance products.
- Adaptability to changing market conditions and evolving customer preferences.
- Customer-focused mindset with a commitment to ethical practices, transparency, and fairness.
Competencies Required
- A University degree in Commerce, Economics, Business Administration, or a related field.
- AIIK Diploma / CII Diploma (or demonstrable progress toward completing the same).
- At least 1 year of experience in Bancassurance sales.
- Proven understanding of insurance products, processes, and compliance requirements.
Why Join SBM Bank as a Bancassurance Sales Officer?
- Impactful Role: You will be at the forefront of enhancing financial inclusivity by integrating insurance into banking services.
- Career Growth: Gain exposure to both banking and insurance industries, positioning yourself for future opportunities.
- Customer-Centric Focus: Be part of a team committed to providing customers with tailored financial solutions.
- Collaborative Culture: Work with supportive colleagues and management in an environment that values teamwork and innovation.
- Fixed-Term Stability: A two-year contract provides the chance to develop your skills and showcase your ability to deliver results.
Application Deadline
The closing date for applications is September 25, 2025. Interested candidates are encouraged to apply early to ensure their applications are reviewed.
How to Apply
If you are passionate about sales, customer engagement, and contributing to the growth of Bancassurance, SBM Bank invites you to apply for the position of Bancassurance Sales Officer.
Please send your application to:
[email protected]
