Bancassurance Officer

KEY RESPONSIBILITIES/ACCOUNTABILITIES

1. Sales and Business Development

• Drive adoption of insurance products (life, health, general, etc.) through Bancassurance staff in bank branches.
• Identify new business opportunities within the bank network and proactively engage to convert them.
• Support bank staff in generating leads, closing sales, and cross-selling insurance products to existing bank customers.
• Achieve monthly, quarterly, and annual sales and premium income targets.
• Conduct periodic sales reviews and develop action plans for improvement in performance.

2. Relationship Management

• Maintain a strong working relationship with branch managers, relationship officers, and other key bank personnel.
• Serve as the liaison between the bank and the insurance company to ensure smooth collaboration and issue resolution.

3. Training and Capacity Building

• Conduct periodic product knowledge and refresher sessions for branch staff on insurance products and processes.
• Provide guidance to bank staff on identifying customer needs and offering appropriate insurance solutions.
• Collaborate with insurance partners to conduct staff capacity-building sessions and ensure continuous product awareness.

4. Customer Service and Policy Administration

• Ensure accurate documentation, underwriting, and policy issuance within agreed timelines.
• Follow up on premium collections, renewals, and customer complaints to ensure timely resolution.
• Liaise with the insurance underwriting and claims departments to ensure smooth processing and feedback to customers.

5. Reporting and Performance Analysis

• Prepare weekly, monthly, and quarterly reports on bancassurance performance against set targets
• Provide regular updates on sales activities, challenges, and achievements to the Bancassurance Manager.
• Analyze customer feedback and market trends to identify opportunities for business growth.

6. Compliance and Risk Management

• Ensure full compliance with regulatory, company, and partner bank policies.
• Maintain ethical selling practices and protect the reputation of the insurance company and the partner bank.
• Monitor branch-level activities to ensure adherence to agreed service standards and governance requirements.

Key Performance Indicators (KPIs):

• Achieved assigned insurance premium and revenue targets.
• Customer satisfaction and policy retention rate.
• Timeliness of policy processing and claims resolution.
• Accuracy and quality of sales and performance reports. 

Qualifications and Experience:

• Bachelor's degree in insurance, Business Administration, Marketing, Finance, or a related field.
• Minimum of 3–7 years of experience in insurance sales, preferably within a bancassurance or partnership distribution setting.
• Certification in insurance (e.g., CIIN, ACII) is an added advantage.
• Strong understanding of insurance products, banking operations, and financial services distribution.

Skills and Competencies:

• Excellent communication, negotiation, and interpersonal skills.
• Strong sales and relationship management abilities.
• Analytical and reporting skills with proficiency in Microsoft Excel and PowerPoint.
• Good organizational skills and attention to detail.
• Ability to work independently and collaboratively with cross-functional teams.
• Customer-centric mindset with a high level of professionalism and integrity.