The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassurance strategy in Commercial Banking.
Responsible to Business Development Manager- BB and CIB with corporate sales, general client management, renewals management, premium collection and stakeholder engagement.
Role will involve enhancing Insurance business development through effective renewals management, ensuring all new business is written via ABIAL and insurance cross sales from CIB clients
To implement sales plans/actions/ promotions and identify sales opportunities
To ensure compliance objectives are adhered to
Job Description
Business Development: 70%:
Responsible for the achievement of the Commercial Banking revenue targets
Support the Commercial Banking teams to ensure that insurance business is done on time, and through the ABIAL
Support the Commercial banking team and RMs to ensure that NTB insurance requirements are sourced and placed with the approved underwriters, underwriter through the ABIAL
Support and work with Trade Finance team to ensure that all Letters of Credit customers are provided with marine cover through ABIAL and the same is embedded in the process
Joint customer visits with RMs to understand insurance needs and tailor customer led
Attend Commercial Banking sales connect sessions to report on insurance Pipelines and uptake progress and enlist support, plus get insights on opportunities available.
Ensure Weekly dashboard, monthly and quarterly performance tracking is shared with all stakeholders
Have Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake and leverage on Bank customers activities to position the same
Servicing Commercial Banking customers and ensuring the TATs with customers are adhered to
Monitoring and evaluation business strategies set
Obtain Approval of all sales related expenses
Dashboard management with relevant MI teams to confirm accuracy of management reports on sales activities
Quarterly business review meetings with Insurance partners to discuss business activities
Identifying cross and up sale opportunities and track performance
Work with the Business Development manager -BB and CIB to ensure strategy deliverables are properly documented and monitored.
Responsible for call reports on customer visits.
Ensure all documentation is correctly completed, collected and submitted as per procedure manuals and SLA’s
Work with partners to ensure Commercial Banking customers receive bespoke solutions and service
Rigor/compliance: 5%:
Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
Ensures review and escalation if required, of Sales administrative issues.
Responsible for compliance with business procedure manuals
Ensuring all claims are reported, tracked and resolved as per SLA by COE
Ensure compliance with Snap checks process and internal audit
People management:15%:
Managing relationships with Commercial Banking colleagues to drive business
Dealing with outlets, operations center to ensure full understanding of the insurance process & procedures
Motivation of relationship managers through agreed programs
Ensure the team is achieving the desired
Premium collection and policy administration;10%:
Ensure all premium is collected from all sales as per laid down procedures in accordance with the insurance Act and SLA’s with partner insurers
Provide management reports on premium collection status of all sales done on a weekly basis
Manage all aspects of premium refunds raised by sales teams
Ensure all premium is receipted as received with partner insurer in liaison with Head office- Bancassurance teams
Technical skills / Competencies
Excellent business development skills and insurance product knowledge
A learning mind-set to rapidly assimilate complex business issues and quickly solve problems in a structured manner or pre-empting issues that may arise where there is limited precedence
Effective negotiating skills to secure both internal and external support and deal with external service providers
Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
Quality, high standards and controls
Passionate Drive for results
Service Excellence
Planning and Organizing
Good understanding of insurance processes
Accuracy and attention to detail
Problem Solving skill
Time Management
Communication skill
Important relationships will include Head of ABIAL, Business development Manager, ABIAL team, customer channels teams, enabling functions, insurance companies and other business partners that include external intermediaries
Knowledge, Expertise and Experience & Qualifications
Essential
A Business-related Degree from a recognized university.
COP qualification, Diploma in Insurance, LOMA or progress in ACII qualification
Exposure to Corporate business and strong relationship management skills
Knowledge of insurance business (claims management & underwriting), products and processes.
Presentation skills and expertise in proposals presentation experience
Exposure to governance, control and risk management
Proven ability to effectively work across teams
Preferred
Insurance Broker/ Sales experience in dealing with Corporate insurances and relationships
Education
Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)
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