Business Development Officer, Bancassurance

This role is responsible for driving and implementing the sales strategy for the bancassurance channel to ensure the achievement of the department’s targets.

Key Responsibilities

• Identify bancassurance business opportunities, negotiate and close business deals within the company's quality business guidelines to increase market share.
• Drive achievement of the annual, quarterly, and monthly production budget targets.
• Manage quality of business, productivity, and overall sales performance.
• Provide accurate and competitive quotations for all product lines and ensure they are delivered promptly to banks and prospective clients.
• Build detailed knowledge about the company’s products and keep abreast of market conditions and developments.
• Conduct continuous product training for assigned bancassurance agencies.
• Manage and maintain existing bancassurance client relationships to identify opportunities for cross-selling, areas of growth, and new business acquisition.
• Exploit synergy with other Group companies to grow business.
• Liaise with internal departments to ensure customer instructions are executed within the set timelines to enhance levels of customer satisfaction, increase sales opportunities, and thereby maximize revenue for the organization.
• Manage direct sales relationships through assigned banks.
• Actively monitor customer preference and enhance business retention by offering solutions and services that meet or predict the existing clients’ future needs.
• Ensure credit control policy is adhered to in respect to business onboarded.
• Prepare timely, accurate, informative reports on the performance of the distribution channel.
• Ensure the business sourced from licensed bancassurance intermediaries meets ethical practices and regulatory standards.
• Continuously liaise with ICT to ensure that the Sales & Distribution (S&D) module in PAS works in a robust and efficient way for the delivery of the department’s objectives.
• Implement the Treat Customers Fairly (TCF) guidelines in Sales and Distribution.
• Embrace governance requirements with respect to Know Your Customer (KYC), Anti-Money Laundering (AML), and Data protection requirements per governing Acts.

Qualifications

• Bachelor’s degree in Marketing, Insurance, Economics, Actuarial Science or other business related discipline.
• Progress towards Diploma in Insurance (ACII or AIIK), (at least 3 papers or equivalent).

Experience

• At least three (3) years’ experience in the insurance industry, with demonstrated success in insurance sales and business development.