Head of Bancassurance & Digital Channels at Jubilee Insurance

Job Ref. No: JHIL098

Role Purpose

Responsible for overseeing and driving the development, implementation, and performance of the bancassurance and digital channels strategy within an insurance organization. This role is responsible for expanding the organization's customer base, increasing revenue, and enhancing customer experience through effective collaboration with banking partners and leveraging digital platforms.

Main Responsibilities
Strategic

• Strategy Development: Develop and execute the bancassurance and digital channels strategy aligned with the organization's overall business objectives. Identify market trends, customer needs, and growth opportunities to drive business expansion and revenue generation.
• Partnership Management: Establish and maintain strategic partnerships with banking institutions to leverage their customer base, distribution network, and resources for effective bancassurance operations. Collaborate with partners to develop joint marketing initiatives and enhance customer acquisition and retention.
• Drive revenue growth through the optimization of existing partnerships and the establishment of new ones.
• Lead the digital transformation initiatives for our distribution channels, leveraging technology to enhance customer experience and streamline processes.
• Implement innovative digital strategies to capture new market opportunities and stay ahead of industry trends.
• Collaborate with cross-functional teams to integrate digital solutions seamlessly into our existing operations.

Operational

• Channel Development: Develop and implement initiatives to expand the organization's bancassurance and digital channels. This includes designing and launching new products, developing distribution models, and enhancing digital capabilities for seamless customer experience.
• Sales Performance: Monitor and analyze sales performance across bancassurance and digital channels, identifying areas for improvement and implementing strategies to achieve sales targets. Ensure efficient lead generation, conversion, and customer onboarding processes.
• Use of data analytics to drive consumption of relevant solutions.
• Work closely with product development teams to create insurance products tailored for digital channels.
• Develop and execute marketing campaigns to promote insurance products through Bancassurance and digital platforms.

 Corporate Governance

• Compliance: Ensure compliance with regulatory requirements and industry standards in bancassurance and digital channels operations. Establish and enforce governance frameworks, policies, and procedures to mitigate operational and legal risks.
• Risk Management: Identify and manage risks associated with bancassurance and digital channels, ensuring appropriate controls and safeguards are in place to protect customer information, prevent fraud, and maintain data privacy.
• Ensure compliance with TCF (Treating Customers Fairly) regulations while attending to customers.

 Leadership & Culture

• Team Leadership: Provide strategic direction, guidance, and support to the bancassurance and digital channels team.
• Foster a culture of collaboration, innovation, and continuous improvement to drive high performance and employee engagement.
• Customer-Centric Approach: Advocate a customer-centric culture within the organization, emphasizing the importance of understanding customer needs, delivering personalized solutions, and enhancing customer experience across all bancassurance and digital touchpoints.
• Establish key performance indicators (KPIs) for Bancassurance and digital channels, regularly monitoring and analyzing performance against targets.
• Use data-driven insights to make informed decisions and drive continuous improvement.

Key Competencies

• Bancassurance Expertise
• Digital Channels proficiency
• Sales, business development and relationship management
• Strategic Thinking
• Leadership and Team Management
• Customer Focus

 Qualifications

• Bachelor’s degree in business administration, Finance, or a related field. Master's degree is a plus.
• Professional Insurance Qualification

 Relevant Experience

•  Minimum of 10 years of relevant working experience in a similar or equivalent Senior Management role. Candidates with experience in digital B2C Sales will have an added advantage.