Business Development Manager-Bancassurance

Job Summary

The role holder will be responsible for driving sales and building a strong insurance culture within the assigned bank, its subsidiaries and branches. This role focuses on training bank staff, managing the sales process, and delivering business growth for both life and general insurance products.

Key Responsibilities

• Meet or exceed assigned targets for premiums, policies, and product mix.
• Achieve premium income goals across all general and life insurance products.
• Build strong, trust-based relationships with key bank personnel.
• Become the preferred insurance partner in assigned territories and markets.
• Engage regularly with bank leaders and staff to generate leads and referrals.
• Conduct product training and sales sessions to improve knowledge and professionalism.
• Drive lead generation from bank databases and branch activities.
• Join bank staff in client meetings to present insurance solutions and provide sales support.
• Identify and close bancassurance opportunities within company guidelines.
• Provide accurate, competitive quotations for quick policy issuance and renewals.
• Monitor and analyse branch sales performance regularly.
• Prepare and share timely reports on bancassurance performance with management.
• Manage the quality, productivity, and overall performance of the bancassurance business.
• Ensure achievement of monthly, quarterly, and annual sales targets.
• Support the implementation of bancassurance sales strategies.
• Collaborate with various bank departments to integrate insurance into their products and services.
• Share feedback on competitors and customer preferences with the marketing team.
• Maintain strong knowledge of company products and market developments.
• Track bank preferences to guide sales focus.
• Conduct market research to improve client service.
• Partner only with licensed and ethical banks.
• Leverage synergies with other Group companies to grow business.
• Enforce adherence to credit control policies.
• Work with ICT to ensure the S&D system operates efficiently.

Qualifications

• Bachelor’s degree in Insurance, Marketing or other business-related discipline required
• MBA is an added advantage.
• Professional qualification in Insurance (ACII, FLMI or AIIK).
• Professional Member to CII or IIK

Experience

• 10 years’ experience in the insurance industry, 3 of which should be in a supervisory role

Competencies

• Business management skills
• Excellent analytical skills
• Excellent organizational and stakeholder management skills 
• Negotiation skills
• Communication skills
• Customer, market and competitor understanding.
• Knowledge of insurance industry and concepts
• Knowledge of insurance regulatory requirements
• Knowledge of underwriting processes, procedures and concepts