SBM Bank Kenya is seeking dedicated Bancassurance Sales Officers to drive the penetration of insurance products among our core customers, foster cross-selling, and achieve revenue growth. The role involves collaborating with internal and external stakeholders to optimize the bancassurance distribution channel, implementing sales plans, and ensuring full compliance with regulatory standards.
Key Responsibilities
Strategy and Sales (80%)
Drive the sales of insurance products within assigned bank branches and segments.
Organize and facilitate insurance product training sessions, morning hurdles, and refresher training for bank staff.
Provide customers with professional insurance consultations and tailored solutions.
Monitor and analyze sales performance, adjusting strategies to meet established targets.
Collaborate with bank management to develop and execute marketing campaigns.
Support segment and regional teams to ensure insurance business is processed timely through SBM Bancassurance Intermediary Limited.
Increase insurance product penetration within the bank's existing customer database.
Compliance (10%)
Ensure all regulatory requirements are met in accordance with the Insurance Act and Service Level Agreements (SLAs).
Manage the review and escalation of sales administrative issues as required.
Maintain strict adherence to business procedure manuals.
Ensure all insurance claims are reported, tracked, and resolved according to SLA by the Center of Excellence.
Comply with internal audit processes and snap checks.
Business Fulfillment (10%)
Ensure all premiums are collected following established procedures, the Insurance Act, and insurer SLAs.
Maintain a zero-tolerance policy for non-collection of premiums.
Funnel all regional and segment insurance sales through the centralized Bancassurance team to prevent revenue leakage.
Manage premium refund processes initiated by sales teams.
Propose credit arrangements to customers, such as Insurance Premium Financing (IPF) or credit card options.
Requirements and Qualifications
A University degree, preferably in Commerce, Economics, or Business Administration.
