Head of Bancassurance at TUME Middle Africa Consulting Limited

GENERAL JOB DESCRIPTION:

This positions’ key responsibilities are:

• Assess potential risks and liabilities faced by the company and identify appropriate insurance coverage to effectively mitigate these risks. Ensure zero exposure to loss.
• Ensures that the Company’s insurance coverage complies with applicable regulations and the strategic direction of the Company. Zero litigations.
• Conduct thorough market research, develop, recommend, and implement customer centered insurance policies and services to achieve business growth and revenue targets.
• Maintain timeliness, accuracy and adequacy of insurance related reports provided to the management, board and other stakeholders. Provide recommendations, input into strategic planning.

SPECIFIC JOB RESPONSIBILITIES:

The Head of Bancassurance is responsible and accountable for the following core job elements:

• Assessing potential risks and liabilities faced by the company, as well as identifying the appropriate insurance coverage to mitigate these risks effectively.
• Ensuring that all insurance activities adhere to relevant regulations while also aligning with the broader strategic objectives of the company.
• Developing, recommending, and implementing plans, policies, and programs for all company insurance coverage to protect the human, physical, and financial assets of the company.
• Evaluating available policy options, negotiating terms with insurers, and ultimately approving the most suitable insurance packages for the company. Ensuring that company products have adequate protection.
• Developing strategies to help customers secure appropriate insurance coverage for their needs, including negotiating favorable terms with insurers on their behalf.
• Acting as a central point of contact for insurance-related matters across the organization, providing guidance and support to various departments as needed.
• Cultivating strong partnerships with insurers to facilitate collaboration, negotiate favorable terms, and ensure effective communication.
• Conducting thorough market research to identify emerging trends, customer needs, and opportunities for improving the company's insurance products and services.
• Working closely with cross-functional teams and product owners to translate insurance strategies into tangible products and services that meet user needs and align with the company's overall objectives.

EDUCATIONAL AND COLLATERAL REQUIREMENTS:

• Bachelor’s degree in business administration or a related field from a recognized University and a post graduate certification in Management or Insurance. An MBA is an added advantage.
• Ten or more years of experience, five of which must be in a similar senior role driving end-to-end product initiatives, rapid and successful partnership initiatives in the banking or fin-tech or Insurance businesses.
• Ability to expertly analyze P&L and ensure strategic alignment. Proficient in risk analysis, coverage, underwriting, rating, markets and contracts; adept at communicating insights to team members.
• Must be passionate about creating social impact through education and willing to travel to low-income communities to evaluate customer’s businesses.
• Excellent interpersonal, coaching, negotiation, presentation and good Microsoft Windows skills.
• Self-starter, street smart, team player, mature individual with outstanding strategic, analytical, numerate, creative skills, communication and presentation talents