Retail & Business Banking
Job Purpose
- Increase market share by retaining existing business and increasing the cross-sell ratio of Bancassurance Products in Personal Markets.
- Achieve sales targets, income, volumes and profit budgets
- Manage and develop sales strategies and identify opportunities, implement such strategies for profitable results
- Provide and/or facilitate product knowledge training to own staff and Customer Consultants/Bankers
Key Responsibilities/Accountabilities
- Identify appropriate Personal lines insurance products which should be developed which can be distributed within the Banks channels.
- Work with the banks Product, Segment and Channel teams to analyse competitor trends and pricing to optimize the Personal Bancassurance product offering.
- Monitor existing product portfolios to ensure loss ratios are within acceptable norms to maximise distribution and underwriting profitability.
- Ensuring products, procedures, systems and reports are developed and continuously reviewed to facilitate decision-making
- Creates awareness of the Bancassurance offering within the bank through roadshows and training across all teams to create confidence amongst the teams to use and sell the product.
- Participates in the annual product pricing review and influences Insurers’ pricing decisions.
- Analyses and interprets the change in customers’ needs and uses the insights to improve, propose or create suitable products.
- Engage, build and manage relationships with key internal and external stakeholders.
- Develop effective acquisition and retention strategy to grow and defend the market share.
- Develop activation campaigns and sales activities with sales teams on a regular basis. Design incentive campaigned to penetrate the bank’s core bank products and monitor effectiveness of the campaigns through MIS reporting
- Work with insurance partners to enhance sales numbers and increase penetration of insurance products into the bank client base.
- Track and monitor profitability (financial performance) using financial reports and product performance reports from MI team, proposes and implements decisions on which products to focus on or revamp.
- Identifies training needs and develops training material to address specific issues.
- Develop comprehensive specifications and all work requests for new product development and enhancements in Personal Markets.
- Develop comprehensive specifications and all work requests for new product developments and enhancements in the Personal Markets
Preferred Qualification and Experience
- Degree in Business Commerce or related field
- Insurance qualification will be an added advantage
- Minimum 6 years insurance experience in a Sales/Broking/Underwriting and 2 of which in a Management/Supervisory role
- Technical knowledge of Short and Long Term Insurance
- Competenty in people management and leadership, leading a sales team would be an added advantage
- Exposure or knowledge of retail banking would be an advantage
- MS Office literate
Knowledge/Technical Skills/Expertise
- Ability to align Business to Strategy
- Ability to purposefully collaborate with stakeholders
- Innovation and ability to provide relevant solutions to clients is key
- Knowledge and understanding of the range of insurance products and services available in the market and how that can be used to meet clients’ needs
Apply here!