I&M Bank, a regional Bank with a fast growing branch network around the country, is seeking to fill in the following position in the Bancassurance Department.
Bancassurance Business Development Officer
Job Summary: The Job holder will be part of the bank’s management team, responsible for facilitating the acquisition of profitable new business and retaining existing accounts in order to increase Bancassurance market share and to achieve profitable growth of business in accordance with targets set and criteria formulated by the Agency.
The role will also drive business growth through working closely with bank branch staff by assisting in identifying business opportunities on existing bank customers, new to bank customers and existing bank insurance customers through cross sell initiative.
The Incumbent will report to the Business Development Manager – Bancassurance and will be responsible for:
- Coordinating marketing efforts to ensure that branch business targets are met.
- Handling new business enquiries; coordinating new business quotation process; and following up quotations to ensure closure.
- Implementing and monitoring results from cross sell strategy in place.
- Monitoring competition and propose measures to enhance Bancassurance’s competitiveness.
- Ensuring that the covers recommended meet customer expectations.
- Liaising closely with the IPF department of the bank for premium financing.
- Liaising with the Banc assurance department to ensure that policy documents endorsements and renewal notices are despatched to customers promptly.
- Proposing risk surveys and making recommendations for premium discounts for good risks covered through the agency.
- Closely monitoring customer service satisfaction to ensure renewals are not threatened.
- Liaising with Business Development Manager, negotiating renewal terms of all businesses well in advance and send formal renewal confirmations to operations team before the renewal dates.
- Preparation of Monthly business performance assessments reports i.e. new business acquired, Renewal retention percentage, business lost, business sources etc.
- Maintaining and regularly updating business progress reports.
- Familiarizing with the BA procedures manual.
- Conducting regular training for bank branch staff on BA products.
- Updating branch staff on new products on offer
- Updating staff on the changes in the rating structure.
Qualifications and Competencies:
- Bachelor’s degree in insurance or a related field from a recognized institution.
- Insurance professional qualifications- COP,AIIK or ACII
- Good knowledge of the Insurance Act and CBK Guidelines on incidental business activity.
- At least 3 years relevant experience in insurance business development.
- Ability to make prudent underwriting judgment.
- Good sales and marketing track record
If you believe you meet the above requirements, send your application together with a comprehensive curriculum indicating your qualifications, present position, contact and names of three referees.
Your application should reach the below address on or before 20th September 2018.
Please quote the reference number followed by the position applied for in the application
The General Manager-Human Resources
I&M Bank Limited
I&M Tower, Kenyatta Avenue
P.O Box 30238 – 00100, Nairobi
Or email: email@example.com (preferred)
Only short listed candidates will be contacted.
Canvassing will lead to automatic disqualification.