Coverage Manager- Bancassurance at Absa Bank Limited

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Job Summary

This role requires a combination of technical expertise, leadership skills, and a deep understanding of insurance policies, risk assessment, business growth in acquisition, organic growth and retention. claims management processes.

Main Duties:

• Client assessment
• Policy analysis
• Consultation as advisor to clients
• Customization
• Negotiation
• Monitoring expiries and review portfolios
• Relationship management
• Risk management
• Market insights
• Claims assistance.
• Business growth and acquisition.
• Review and improve claims and underwriting processes.
• Provide expertise and support to clients and internal teams.
• Deliver efficient customer service.
   

Job Description

Key accountabilities/Deliverables/Outcomes & Approximate Time split

Key Coverage Responsibilities: Time split: 50%.

• Analysis clients risks and suitable coverages.
• Reviewing and understanding policies ensuring alignment with clients’ specific needs (portfolios and Corporates)
• Tailoring solutions to fit bancassurance clients need together with products teams. Thant include conditions and clauses reviews.
• Building relationships with clients and onboarding the same from acquisition, retention, and organic growth
• Market insights on up-to-date industry trends, regulations, changes in the market
• Cultivate working relationships with relevant external stakeholders.

Key Support Responsibilities: Time split: 50%

• Ensure that all ‘bank securities’ are insured.
• Compliance with bank policies and guidelines.
• Review underwriting decisions made by Underwriters, ensuring accuracy and compliance with established guidelines.
• Evaluation of proposals to corporate client base both local and global to ensure correct risk covered and priced accurately.
• Negotiation of terms for bank clientele with insurers, that includes embedded and other products with products teams.
• Monitoring entire claims process for clients. While reviewing and analyzing complex claims

Role/person specification

Preferred Qualification

Bachelor’s degree in commerce, Business Administration, or a related field. Professional certifications in ACII or AIIK are advantageous, or evidence of advanced progress towards certification.

Knowledge And Skills

• Strong knowledge of insurance policies, underwriting principles, risk assessment, and claims handling procedures.
• Business acumen
• Excellent analytical and problem-solving skills, with the ability to evaluate complex insurance claims and underwriting issues.
• Strong leadership and team management abilities, with experience in mentoring and developing staff.
• Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Sound understanding of regulatory requirements and industry trends in the insurance sector.
• Proficiency in data analysis and preparing reports.
• Agile

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)