Customer Product Advisors – Bancassurance Life at NCBA Group

JOB PURPOSE STATEMENT

Responsible for the Sales, Distribution and Marketing of Life Assurance in the Bancassurance business through the development and execution of the strategy for business growth in given areas. The role will drive business growth through active selling to the existing bank customers from various business segments mainly Retail Banking as well as the general public. The role also involves establishing and managing business relationships for business growth and ensuring high customer experience standards are maintained in line with the overall strategic plan.

KEY ACCOUNTABILITIES (DUTIES AND RESPONSIBILITIES)

Revenue and Cost Management (65%)

• Achieve Bancassurance Retail sales targets as per the set out performance targets.
• Ensure retention ratio of 90% of Retail Insurance businesses.
• Execute marketing programs in line with the Bancassurance strategy for business growth
• Sign up new insurance clients sourced from Retail and Workplace Banking.
• Upsell and cross sell insurance to existing customers as per stipulated targets.
• Conduct weekly client visits and prepare respective call reports. At least 3 visits per week.
• Monitoring the insurance market trends and giving continuous feedback to ensure we provide timely solutions and maintain product competitiveness.

Customer Service Excellence (25%)

• Ensure all client documents are dispatched to Finance team within 24hours.
• Ensure payments are collected within 90days TAT.
• Oversee quality control in all aspects of corporate business processing as stipulated in the procedure and product manuals.
• Ensuring that the insurance policies sold to customers match their long-term financial needs by providing effective advice, competitive quotes and ensuring compliance with the rules and guidelines as set by the underwriters and other providers.
• Prepare relevant production / activity reports i.e. Retail and Workplace Banking sales performance reports.

People and Culture (10%)

• Adequacy of personal competence to effectively perform relationship management tasks for Bancassurance.
• Employee Engagement Initiative - Evidence of training/Learning (Internal& External/E-learning - 40 Hrs

JOB SPECIFICATIONS

Academic:

• Bachelor’s degree required
• Certificate of Proficiency required

Desired work experience:

• Two years of related life assurance sales experience.

IDEAL JOB COMPETENCIES

Technical Competencies:

Sales Capability

• Position the institution as the preeminent provider of Retail Life Assurance solutions within the bank’s chosen markets. Open doors for sales opportunity.

Financial Acumen

• Able to analyze and interpret financial data to make appropriate business suggestions and decisions. Understands the connection between operations and financial performance.

Customer Engagement

• Engages customers and identifies their apparent and underlying needs from the engagement and anticipates future needs. Communicates information in various formats to best address the customer’s needs. Captures relevant customer information and leads from the engagement so as to continually serve the customer in the most appropriate way.

Product Knowledge

• Broad based working knowledge of all Bancassuarance – Retail Assurance products offered by the bank (breadth and depth). Ability to combine different product offering to create a value-adding solutions for customers.

Industry Knowledge

• Seasoned industry player through breadth and depth of exposure to diverse players, across multiple channels and platforms. Shares insights on industry trends; identifies opportunities that can be exploited and concerns to be avoided / mitigated against. Reference point and mentor for customers, colleagues and partners. Demonstrate an understanding of the insurance legal environment and compliance issues related to insurance.

Behavioral Competencies:

Leadership Individual contributor

• Exercises self-leadership delivering assigned work in line with professional and technical standards within given time frames. Is reliable and works collaboratively. Has the cognitive intelligence to draw together contrasting strands of information and present a compelling position. Adheres to the company’s values and policies and delivers to set objectives. Has high moral intelligence.

Networking Skills

• Continuously builds and strengthens networks for the institution within all spheres of the economy within the region; at all levels of commerce, government, society, etc.

Adhering to Principles and Values

• Upholds ethics and values; demonstrates integrity; promotes and defends equal opportunities and builds diverse teams.

Negotiation Skills

• The ability to gain agreement and attain a middle ground solution when discussing with others.