PACIS Insurance Company Limited is an initiative of the Catholic Church with a vision to be the icon of reliability and trustworthiness. We are seeking a Business Development Executive to grow our medical insurance book through the expansion of the bancassurance channel.
Job Purpose
To grow the medical insurance book through expansion of the bancassurance channel through recruitment of Bancassurance Sales Officers (BSOs) and new banks through strategic relationship management, negotiation of binders, and financing models.
Principal Accountabilities
Revenue Growth and Profitability
- Drive revenue growth by optimizing existing partnerships and establishing new strategic alliances with banking institutions.
- Develop and execute the bancassurance channel strategy aligned with overall business objectives.
- Recruit dedicated Bancassurance Sales Officers (BSOs) to drive product penetration, customer acquisition, and revenue growth with banking institutions.
- Track performance for BSOs to ensure consistent meeting and exceeding of the sales targets.
- Design and implement initiatives to expand bancassurance, including new products, distribution models, and digital capabilities.
- Manage tender requests from the channel and the quotation process, ensuring turnaround times (TATs) are met.
- Leverage data analytics to generate insights and drive uptake of relevant insurance solutions.
- Oversee effective lead generation, conversion, and customer onboarding processes.
- Provide ease-of-doing-business tools for retail and SME products to empower officers to quote and bind business in the field.
- Liaise with the credit control team to provide statements and ensure adherence to the credit policy.
- Manage agreements with intermediaries and ensure consistent compliance.
- Develop and execute marketing campaigns to promote insurance products through bancassurance.
- Use negotiation skills to ensure appropriate targets, pricing, and margins are secured.
- Collaborate with Management on topline goals, planning, and forecasting.
- Prepare monthly and weekly business development reports.
- Ensure compliance with regulatory requirements, industry standards, and TCF principles.
Relationship Management
- Monitor outpatient funds and establish professional relationships through networking with banking institutions.
- Host regular functions to develop strong relationships and business bonds.
- Share submissions and hit ratios on a quarterly basis.
- Implement a structured intermediary visit plan and maintain visit reports.
- Execute a structured training plan for banking institutions to enhance product knowledge and sales capability.
Market Intelligence
- Collect market intelligence through research and networking to keep abreast of market developments.
- Assess market opportunities with respect to competitor sales sources.
Qualifications and Experience
- Bachelor’s degree in a Business-related course (Insurance Option, Marketing, Business Administration, or Finance) from a recognized university.
- Professional qualification: AIIK or ACII.
- At least five (5) years of insurance experience, with at least two (2) years in medical sales within the bancassurance sector.
- Strong understanding of the insurance industry.
How to Apply
Interested and qualified? Go to www.pacisinsurance.com to apply.
