The purpose of this role is to have dedicated insurance sales officers tasked to drive the penetration of insurance among core bank customers, foster cross-sell and revenue growth. You will collaborate with key stakeholders internally and externally to optimize the bancassurance distribution channel, implement sales plans/actions/promotions, and identify sales opportunities while ensuring compliance objectives are adhered to.
Key Responsibilities
Strategy (80%)
Drive the sales of insurance products within bank branches/segments.
Arrange for bank staff insurance product training, staff hurdles, and refresher sessions.
Provide customers with comprehensive insurance consultations and solutions.
Monitor and analyze sales performance and adjust strategies accordingly.
Collaborate with bank management to develop and implement marketing campaigns.
Ensure compliance with regulatory standards and company policies.
Support the Segment/Regional teams to ensure that insurance business is done on time and through SBM Bancassurance Intermediary Limited.
Drive insurance penetration into the customers database.
Compliance (10%)
Ensure all regulatory requirements are met by ensuring compliance with the Insurance Act and SLAs.
Ensure review and escalation if required of Sales administrative issues.
Responsible for compliance with business procedure manuals.
Ensure all claims are reported, tracked, and resolved as per SLA by the Center of Excellence (COE).
Ensure compliance with the Snap checks process and internal audit.
Business Fulfillment (10%)
Ensure all premiums are collected from all sales as per laid down procedures in accordance with the Insurance Act and SLAs with partner insurers.
Maintain zero tolerance for non-collection of premiums.
Ensure all regional/segment insurance sales are placed through the centralized Bancassurance team to avoid revenue leakage.
Manage all aspects of premium refunds raised by sales teams.
Support customers by proposing credit arrangements such as IPF (Insurance Premium Finance) and Credit cards.
Requirements and Qualifications
Education: A University degree, preferably in Commerce, Economics, or Business Administration.
Professional Certification: AIIK Diploma / CII Diploma or verifiable progress toward attainment of the same.
Experience: At least 1 year of experience in Bancassurance sales.
Domain Knowledge: Understanding of and experience with Insurance products and processes, including an in-depth understanding of health insurance products (coverage options, benefits, and exclusions).
Skills and Competencies
Sales & Marketing: Strong ability to drive revenue growth and penetration.
Interpersonal Skills: Ability to build and maintain relationships with bank partners, agents, and customers.
Training Capacity: Capability to provide training and support to bank staff.
Adaptability: Ability to adapt to changing market conditions and organizational priorities.
Ethics: High ethical conduct, ensuring transparency and fairness in customer interactions.
Customer Focus: Dedication to meeting customer needs and expectations.
How to Apply
Interested and qualified candidates should apply by visiting the SBM Bank website at www.sbmbank.co.ke or by using the direct application link: Apply Now.
