Manager Business Development, Medical and Life Business at I&M Bank

Job Purpose

The job holder is responsible for generating revenue (Non funded Income) from medical insurance products and life Insurance products. It involves signing up new clients and retain existing clients, managing client's relationship and cross-selling of other Bank products.

Key Responsibilities

• Prospect new business from the Bank customer through the RMs and non-Bank customers
• Prepare and negotiate insurance quotations to prospective customers and follow up to closure.
• Follow up business leads from RMs across the Bank segments - Hold joint customer visits with bank relationship teams.
• Place cover with the underwriters and follow up with the underwriting team to ensure the medical cards, policy documents are issued within TAT
• Develop tailor-made insurance packages for our customers, in partnership with the insurers
• Create product awareness across the Bank network.
• Implement the new products through the various distribution channels
• Periodically evaluate product performance and give feedback on product improvement.
• Maintaining strong relationships with customers to ensure business retention/Renewal
• Hold renewal meeting with the customers
• Negotiate renewal terms with the insurers based on current client's needs
• Ensure that the premiums for the business placed/renewal are paid timely and remitted to the insurance company. Cross Sell other bank product to the clients
• Conduct training on existing/new Bancassurance products to BMs/RMs/ROs/CSs

Academic Qualifications

Bachelor’s Degree in a Social Science or related field

Professional Qualifications / Membership to professional bodies/ Publication:

• Relevant professional qualification (IIK or ACII).
• Member of a relevant professional body.

Work Experience Required

• Up to Five (5) years’ relevant experience in a similar organization.

Competencies:

• Strong leadership skills
• Executive disposition
• Demonstrate high levels of integrity.
• Excellent communication and interpersonal skills