Bancassurance Development Officer
Published On:
8th, August 2023
Closes on:
15th, August 2023
Job closed
Job Description
Reporting to the Bancassurance Development Manager, the role holder will be
responsible for acquisition of insurance business within the assigned region/branch with
the primary objective of growing the overall Bank`s Profitability through Non-Funded
income generated from Insurance Sales Commission Income.
Responsibilities:
o Driving growth in Bancassurance business across the region/branch through new
business acquisition, cross sells and upsells with a focus to Personal Banking, Premium
Banking and MSME customer Segments.
o Execution of day-to-day insurance operations at branch level which entails sales,
underwriting, policy documentation, claims documentation, facilitation premium
payments etc.
o Following-up on customer insurance policy renewals to ensure desired business
retention rations are achieved through timely contact and engagements with respective
customers in personal, premium and MSME segments.
o Developing good business working relationships with branch manager, branch
relationship officers & customer service officers to generate insurance business leads
through their customers in Personal, Premium and MSME customer Segments.
o Ensuring customer inquiries are resolved promptly as per laid down policies and
procedures.
o Championing Insurance products and all relevant business processes training at the
branch level to sensitize branch staff on Bancassurance business
o Ensuring full compliance with all regulatory and internal procedures in relation to
Bancassurance business.
o Ensuring all collaterals and assets which have Bank`s interest are properly and
comprehensively insured and bank’s interest properly noted.
o Ensuring debt level is managed proactively and in line with the laid down Bancassurance
Debt Policy and underwriting Guidelines.
o Checking and verifying the accuracy, completeness of the documents against checklists
provided according to product lines; KYC/AML compliance requirements, in both
underwriting and claims.
o Achieving budgeted cross sell on Insurance Premium Financing (IPF).
o Any other official duty that may be allocated by management from time to time.
Requirements:
o A holder of university degree from a recognized university in Insurance, Business,
Finance, or other related business fields.
o Professional qualification in Insurance related field will also be an added advantage.
o Certificate of Proficiency (COP) in Insurance.
o At least two years active working experience in direct sales in a Bancassurance set up or
Insurance company.
o Exposure to Bancassurance processes and procedures will be an added advantage.