Assistant Manager Business Development – Bancassurance Section at Madison Group Limited

Key Responsibilities

• Identify bancassurance business opportunities in banks and saccos, negotiate and close business deals within the company quality business guidelines to increase the 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 the products lines and ensure they are delivered promptly to banks and prospective clients.
• Conduct continuous product training for assigned banks, saccos and branch networks.
• Exploit synergy with other Group companies to grow business
• Identify and evaluate new business opportunities, including potential partnerships, mergers, or acquisitions to enhance the organization’s capabilities and market positioning.
• Collaborate with management team to set strategic goals and targets for the business development team, aligning them with the organization’s overall business objectives.
• Monitor industry developments, regulatory changes, and emerging trends affecting Corporate life. 
• Provide insights and recommendations to the management team on product development, pricing strategies, and market positioning
• Premium Collections – Collect all premiums of business debited as per the Company policy.  
• Monitor sales performance, track progress against targets, and provide regular reports to the management team.
• Develop and maintain relationships with intermediaries, brokers, and strategic partners.
• Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Embrace governance requirements with respect to KYC/AML/Data protection requirements per governing Acts.

Academic and Professional Qualifications required

• Bachelor’s degree in Insurance or any other business-related field.
• 3 -5 years’ experience in the insurance industry, with demonstrated success in insurance sales and business development 
• Progress towards Professional qualifications in IIK, CII or CIM.

Key Competencies

• Business Development Acumen: Strong understanding of business development principles, strategies, and tactics within the corporate life sector. 
• Relationship Building: Excellent interpersonal skills to build and maintain strong relationships with internal & external clients, intermediaries and strategic partners.
• Strategic Thinking. A strategic mindset with the ability to analyse market trends, competitor activities and regulatory changes to identify strategic business opportunities and risks. 
• Proficiency in conducting market research and analysis to identify target markets, customer segments, and industry trends.
• Excellent verbal and written communication skills, including the ability to deliver engaging presentations, negotiate contracts and articulate complex concepts to clients and stakeholders.
• Has a results-driven mindset with a focus on achieving business development targets and driving revenue growth. 
• Sound financial knowledge, including an understanding of corporate life products, pricing strategies and financial metrics.