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With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
The Head of Bancassurance Business will plan, manage, lead and direct the business focus on the distribution of all Insurance products across all banking channel partners to achieve business, revenue and profit targets. The post holder will report to the Managing Director and will be based at the Head Office in Nairobi.
Job Description
Accountability: Strategy and Planning
Accountable for managing, leading and directing the Bancassurance business strategy on the distribution of all insurance products across all banking channel partners to achieve business, revenue and profit targets.
Ensure appropriate Bancassurance Structure is in place to drive Bancassurance business in the country.
Develop and execute an overall Business Plan covering all insurance activities across all the business based on business targets in alignment with partners.
Have thorough understanding of business dynamics across the business to leverage on multiple product and services needs of Banks customers to better position insurance as a key part of a truly valuable customer proposition.
Align with Africa Head of Bancassurance to develop and implement a country wide insurance product strategy for profitable growth.
Accountability: Financial and Performance Management
Accountable for revenue generation targets through designing appropriate new business acquisition and retentions strategies
Accountable for Channel performance
Active management of overall Bancassurance P&L by driving acceptable Loss Ratios and Business Mix
Accountable for debt management by maintaining acceptable debtors’ ratio
Active management of relationships with all Bank partners to ensure smooth running of the distribution channels in delivering targets.
Monthly reporting of Bancassurance financials to Exco
Accountability: Product Development/Operational Efficiency
Active involvement in identifying customer value propositions/products needs for all customer bases across the various segments.
Ability to follow through the Group product development/improvement policies and by liaising with the country product development committee.
Monitoring operational activities to ensure that they are complaint with Local regulations, Absa Group policies and procedures
Oversee the operational aspects of Bancassurance business at the branch i.e. underwriting, claims, finance and customer service as well as preparation of quotations, negotiating terms for customers and closing sales.
Accountability: Sales and Developing a Winning Team
Act as the liaison manager with all Banks on all insurance matters
Determine, agree and monitor achievement of sales and service KPIs (including the appropriate number of staffs for each location of sales and service targets) within the Bancassurance Channel
Recruit new banks, micro-finance institutions and Saccos having potential of being productive Bancassurance partners.
Active involvement in defining the appropriate skills, education, experience etc. of the insurance sales staff and development of the training curriculum to optimize sales/service achievement
Actively identify market growth strategies including up-sell, embedded products, cross-sell opportunities to increase revenues
Initiate, execute and manage marketing programmes and retention strategies in line with business objectives (premiums, commissions, product type, and number of policies)
Accountability: Market Intelligence
Active analysis and review of all customer bases to understand customer profiles, behavioural and lifestyle traits to identify opportunities for increasing customers’ insurance wallet share (total value)
Keeping abreast of market competition, industry practices and best practices to constantly improve on overall business performance.
Accountability: People Management & Compliance
Responsible for supervising appropriate team member in addition to managing internal key relationships
Motivate staff and ensure they are recognized through the Company’s recognition standards.
Ensure appropriate operational procedures in place to uphold and monitor activities to ensure compliance with Absa policies and standards.
Education
Bachelors Degree and Professional Qualifications: Insurance and Risk Management (Required)
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The post Bancassurance Manager – First Assurance at Absa is republished from Jobs – Jobs in Kenya – http://jobwebkenya.com/
