Manager Bancassurance & Alternative Channels at AAR Insurance

About the Job

• This position will achieve budgeted company revenue and profitability through effective partnerships with various banks and microfinance institutions. It shall spearhead the distribution of both existing and new products through the various banks, microfinance and alternative channels while putting effective relationship management and market intelligence at the forefront.

Duties & Responsibilities

Strategy on New Business & Retention:

• Develop account strategy to unlock potential with key bank, microfinance partners and alternative channels.
• Execute strategy to ensure profitable business growth objectives are met with each bank microfinance institution and alternative channels through new and retention of existing business
• Ensure prompt follow up on renewals to ensure that the prescribed retention ratio is achieved
• Prepare and implement annual business plan to help achieve set budgets

On boarding New Bank Microfinance and Alternative Partners & Revenue Delivery:

• Identify and pursue new partnerships with other banks, Alternative channels and microfinance institutions for business growth
• Develop multi-tier relationships with banks, alternative channels and microfinance institutions to identify synergies within their respective niche markets
• Deliver set sales targets for Bancassurance and alternative channels of distribution

Resource Mobilization and Management:

• Spearhead recruitment of regional BREs (Bancassurance Relationship Executives).
• Manage, mentor, and track BRE performance to ensure productivity and budget delivery.

Relationship Management:

• Manage relationships with the respective banks, microfinance partners and alternative channels to ensure AAR derives continuous business support without compromising on established SLAs
• Deliver excellent customer service on query resolution with excellent TAT on quotations, business placement and claims administration so as to offer Best-In-Class experience to the respective banks and microfinance institutions
• Maintain superior turnaround time (TAT/TAT adherence) across all partner-facing deliverables.
• Coordinate banks and microfinance institutions evaluation and implement recommendations

Product Training:

• Plan and conduct training sessions for banks and microfinance institutions with whom AAR have established business relations on new and existing products while taking note of their unique value propositions to the respective niche markets
• Develop quarterly training calendars for banks and microfinance institutions on AAR products and processes while overseeing implementation of the same
• Develop and execute product knowledge assessment tool to ascertain the level of product knowledge of on boarded banks and microfinance institutions in line with Bancassurance strategy of ‘Value Adding Training’

Market Intelligence:

• Constantly obtain data from on boarded banks and microfinance institutions on competitor’s offerings, changes in underwriting techniques and issue appropriate recommendations with respect to AAR products
• Generate insights and propose product, pricing, or process recommendations to strengthen AAR’s competitive edge.

 Finance, Budgets and Forecasts:

• Propose and execute disruptive partner engagement and product positioning programs within approved entertainment/marketing budgets.
• Design initiatives that enhance visibility, product uptake, and channel differentiation.

Audit, Risk & Compliance:

• Ensure all partner touchpoints are 100% compliant with regulatory and internal policy requirements.
• Interpret, enforce, and uphold company policies and procedures, including supplier and partner engagements.
• Ensure documentation (MOUs, SLAs, binders, annexures, etc.) are accurate, compliant, and properly governed.

Reports:

• Prepare and present accurate, timely, and high-quality Bancassurance and alternative channel performance reports.
• Maintain up-to-date data on key metrics including:
• Partner satisfaction
• Product uptake
• Revenue delivery
• Customer experience and satisfaction
• Claims performance
• Loss ratios and portfolio health
• Channel profitability indicators

Personal Attributes

• Bachelor’s in commerce or Business-Related Degree from a recognized university
• AIIK or ACII qualifications
• Minimum 5 years’ experience in sales dealing with Insurance products with strong commercial aptitude in Insurance/Banking/Financial Services
• Demonstrate knowledge in underwriting medical and non-medical/non-motor insurance business
• Ability to construct concise business cases and planning documentation essentials
• Decisiveness, action-orientation, and a focus on strategic leadership
• Open, collaborative leadership style that promotes integrity and continuous improvement
• Results oriented individual with demonstrated ability to promote and lead change
• Excellent Presentation skills

Academic Qualifications

• Qualification Name    Level
• Bachelor of Commerce/ Business Related Field    Degree
• Diploma in Insurance    Diploma