Officer - Bancassurance at Jubilee Insurance

Job Ref. No: JLIL182

Role Purpose

The job holder will be responsible for building, maintaining and growing Bancassurance relationships and increase revenue by delivering a world class customer service in a very pro-active manner. The role holder must meet the set retention target, increase portfolio profitability and grow the portfolio through upselling of benefits, proper loading, and claims control.

Main Responsibilities
Operational

• Proactively manage allocated bancassurance retail portfolio by meeting your retention targets, maintaining, increasing premium & lives volume through organic growth and by selling additional benefits and enhancements.
• Bancassurance Partnership Management: Cultivate and manage productive partnerships with partner banks and financial institutions. Develop a deep understanding of their business models, sales processes, and customer segments. Provide a dedicated and comprehensive service to Bancassurance intermediaries/clients, always acting as the primary point of contact between Client/Bank and JLIL and deliver the highest level of customer care to meet and exceed expectations.
• Life Insurance Sales: Promote life insurance products and services to bank clients. Leverage the bank's customer base and referral network to generate leads and close life insurance sales.
• Organization and timely attendance of regular client/bank meetings. Take minutes and include required actions with TATs for circulation to all attendees and Team Leader. Ensure all required action as agreed is acted upon correctly and within TAT’s. Identify service gaps and address the same.
• Gathering of market intelligence on all renewals including tender business and working with BSO’s support to ensure no business is lost due to pricing.
• Ensure clients are provided with correct quotes for new and existing business in a timely manner, revisions are prompt and in accordance with specified requirements and JLIL renewal and risk strategy. Follow the renewal process and secure renewals of assigned schemes within TATs.
• Implement Customer service journeys and put in place an annual customer touch point for each client and ensure that this is adhered to, and records maintained.
• Liaising closely with specific teams to ensure that all client debits/credits/cards/documents are issued correctly and dispatched promptly within the set TATs. Monitor progress of all/any improvements agreed upon with client and to be implemented by various teams.
• Assist related teams in getting information needed for any pending action for claims, membership, cards etc. and ensuring that all actions are carried out within required TATs.
• Ensure reports/documents are verified and sent regularly and that SLA deliverables are always met. Make loyalty calls to clients/ intermediaries and ensure they are happy satisfied and timely feedback is provided.
• Respond to all incoming calls, letters, emails from clients/Bancassurance Intermediaries set TAT's and attend to walk in clients promptly and professionally. Ensure complaints are dealt with promptly and pro-actively by maintaining an issues/complaints log to track so that gaps can be identified, and solutions found.
• Provide the necessary support to intermediary and clients by training them on the medical products, Benefits and limits and other products features.
• Generate correct and complete monthly/quarterly and annual portfolio performance reports including claims experience regularly to monitor claim trends and provide the same to client as per SLA.
• Ensure that groups are advised immediately members reach 75% claims balance or exceed limits and that member statements go out on a regular basis as per client requirement.
• Implement regulatory/legal changes affecting clients. Ensure all JLIL - Know Your Customer, IRA and government regulations/rules are complied with.

Corporate Governance

• Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Culture

• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.

Key Competencies

• Strong relationship-building and networking skills.
• Excellent communication and negotiation abilities.
• Sales-driven and target-oriented mindset.
• Customer-centric approach and empathy.
• Financial acumen and understanding of life insurance products.
• Excellent data skills, Report writing and Presentational skills.
• Ability to priorities & deliver within set timelines.

Qualifications

• Bachelor’s degree in Insurance, Finance, Business, Marketing or any other related course
• Diploma in Insurance qualification will be an added advantage.
• LOMA/CII/IIK Qualification will be an added advantage.

Relevant Experience

• Minimum of 2-3 years’ work experience in a similar role.
• Exposure to sales or customer service roles, preferably within the insurance or financial services domain.
• Proven track record in sales and relationship management, preferably in the bancassurance or insurance sector.