Relationship Officer-Bancassurance at Family Bank Ltd

Job Purpose:

• The role holder is responsible for bancassurance business growth and development to generate revenues to support the Bancassurance growth strategy.

Key Responsibilities:

•  Drive growth in Bancassurance business across and outside Family bank distribution Channels-through new business acquisition.
• Responsible for insurance business growth and development to generate revenues to support the Bancassurance growth strategy.
• Execution of day-to-day Insurance operations and business initiatives at branch level; New business development, Upselling & cross-selling of insurance products, claims administration and documentation etc.
• Prepare and maintain on an ongoing basis, daily sales report, and monthly performance reports to present to the branch manager.
• Work closely with the Branch Manager, branch business teams and Credit team to design strategies to leverage the existing clientele and expand the bancassurance wallet share by selling insurance products hence deepening relationships and accelerate revenue growth.
• Spearhead marketing initiatives or drives on insurance products to existing and prospective bank customers.
• Mine and ensure that all collaterals /assets/ securities within the corporate loan book are properly and adequately insured and the bank’s interest properly noted to mitigate risks of exposure to the bank securities.
• Business Retention: Timely renewal of existing business to avoid revenue loss through timely contact and engagements with the policyholders, and overall relationship management.
• Work closely with the branch management team to ensure the branch meets the set targets on insurance business.
• Provide advisory services to credit department/ branch on relevant insurance policies for businesses/ clients accessing credit facilities from the branch.
• Champion Insurance products and all relevant business training at the branch level to sensitize branch staff on bancassurance business.
• Efficiently and effectively resolve all insurance inquiries or issues from clients and within the assigned branch(es), including claims management.
• Ensure compliance with all regulatory and internal procedures in relation to bancassurance business within branches.
• Responsible for premium collection and ensuring that debt levels are kept within set levels and in line with laid down bancassurance Credit policy and underwriting guidelines.
• Participate in branch meetings and any other business forums offering valuable ideas contributing towards the growth of business.

The Person: 

• The ideal candidate must possess the following qualifications:
• A holder of university degree from a recognized university in Insurance, Business, Finance or another related field.
• Certificate of Proficiency (COP)
• At least two years active working experience in direct sales in a Banc assurance environment or Insurance industry.

 Key Competencies and Attributes:

• Exposure to bancassurance processes and procedures will be an added advantage.
• Excellent knowledge of Insurance products, underwriting processes, and emerging market/industry trends
• Highly effective communication and collaboration skills
• Strong presentation and customer service skill set
• Results oriented and self-driven with a proven performance track record.
• Good planning, organization, and reporting skills with the ability to deliver effectively under strict deadlines.
• Exposure to Insurance products in the bank set-up.
• Practical understanding of the relevant regulatory environment
• Goal focused and able to spot business opportunities.
• Builds networks and maintains strong relationships to achieve desired results.
• Excellent business development and Client Relationship Management skills.
• Responsible, reliable, has leadership skills and business acumen to spot opportunities readily.
• Upholds high standard of Professionalism, integrity, and respect for others.
• Drives high performance through collaboration with teams.