Relationship Manager – Bancassurance at Sidian Bank

JOB PURPOSE

The job holder will be responsible for business revenue generation through the existing Branch channels and expansion to the general insuring public. This entails formulating strategies for the Intermediaries business growth and active selling to the existing bank customers from various business units segments and retail business from branches. He/she will also be required to build, nurture and manage a team to ensure growth of business, establishing and managing business relationships and ensuring high customer service standards are maintained in line with the overall strategic plan.

KEY RESPONSIBILTIES 

• Business Development
• Premium Collection and policy administration
• People Management

Business Development 

• Generating Commission Revenue for Bancassurance products from bank and non-bank customers with Special attention to branches, retail customers and direct customer with no facilities 
• Generation of insurance business from the banks existing corporate, micro and SME Customers pledging asset as collaterals.
• Generations of Retail insurance business through branches -Medical, Individual life and group life. 
• Follow up on insurance business with Branch staff and business teams for business from the branches and respective head office units.
• Development and execution of marketing programs in line with the Bancassurance strategy.
• Prospecting for new sources of business from the direct clients and branch referrals.
• Training of bank staff translating to business conversion on monthly basis.
• Accompany Relationship Managers and Branch managers for customer visits translating to business revenue.
• Preparation of relevant SLAs with underwriters.
• Cross-sell various bank products to the customers.
• Formulate marketing strategies geared towards awareness and business growth within the branches 
• Identify and explore new revenue streams to ensure growth of the business. 

Premium Collection and Policy Administration

• Maintain 95% collection rates on all business booked through I-pen within agreed credit approvals.
• Ensure 100% timely disbursement and prompt recovery of Insurance Premium Financing IPF Facilities
• Ensure 95% of policy documents and motor certificates are delivered to customers within agreed turnaround times.
• Achieve 90% renewal retention rate across all renewable insurance portfolios.
• Follow-up with the underwriters on credit notes passed and refund same to customers

People Management

• Help to resolve conflict as to when they arise from branches especially during claims processing.
• Co-ordinate the relationship of the business development with the operations team.
• Participate in quarterly performance reviews an coaching team work sessions for all team members. 
• Hold monthly coordination meeting with Operations team and resolve 90% of escalated issues within the agreed SLAs.
• Resolve 90% of branch claims escalations within agreed turnaround times.

DECISION MAKING AUTHORITY

• The position entails day to day making of business decisions and advising customers on their insurance needs and costs. For Individual, SMEs and medium corporate customers with specific insurance requirement, the position holder is expected to make informed decisions and give customers advise on the same. Large corporate customers such as manufacturing plants, a recommendation will be made and a survey recommended to the customer immediately to ensure sufficiency of the covers issued.
• The position holder will also make decisions on the credit periods offered to the customers and will be responsible for collection of any outstanding premiums, in line with the insurance companies credit policies. Any matter involving premium refunds will be referred to the Finance and operations team who will seek approval from Head of Bancassurance before effecting.

ACADEMIC BACKGROUND

• University degree (Preference given to a Business-related degree or B Com Insurance )

WORK EXPERIENCE

• Minimum of 5 years’ experience in Bancassurance or insurance industry or Sales experience (Preference given to Bancassurance experience in the industry)

SKILLS & COMPETENCIES

• Bancassurance Competence: Ability to understand the Insurance products offered in the market, and knowledge of all documentation and processes.
• Technology Skills: Computer literate, excel and power point presentation skills 
• Industry knowledge: Candid knowledge of the banking and insurance sector interactions.

PROFESSIONAL CERTIFICATION

• COP OR ACII added advantage