Find jobs for you


Bancassurance Development Officer

Finance

Mombasa  

Published On: 8th, August 2023

Closes on: 15th, August 2023

Job closed

More About the Job

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.

Posted By