Reporting to the Head of Retail Sales, the Business Development Manager – Bancassurance is responsible for generating revenue through the distribution of retail life products across alternative channels, including banks, SACCOs, brokers, and independent agents. The role holder will develop and implement models to maximize retail life business acquisition from strategic partners.
Key Responsibilities
Partnership Development
Identify, engage, and onboard strategic partners such as co-operatives, banks, MFIs, brokers, and independent agents.
Negotiate and manage contracts with partners to ensure sustainable relationships.
Conduct regular reviews with key partners to ensure mutual value creation and address performance gaps.
Review and recommend strategic sponsorships.
Utilize market intelligence in collaboration with partners to provide recommendations for enhancing and growing partnerships.
Sales and Distribution Management
Build and maintain a professionally trained salesforce aligned with the channel's manpower targets.
Oversee sales team productivity to ensure retail life targets are met and exceeded.
Participate in the development and setting of sales targets.
Recruitment & Resource Management
Actively participate in the recruitment and training of Assistant Regional Managers, Alternative Channels Team Leaders, and Sales Officers.
Channel Innovation and Expansion
Monitor and optimize channel performance through continuous market intelligence and constant engagement with partners.
Provide feedback to the product development team regarding specific partner needs and market gaps.
Training and Capacity Building
Train and educate partners (co-operatives, banks, MFIs, brokers, and independent agents) to build retail life insurance knowledge and improve collaboration.
Monitoring, Evaluation, and Compliance
Provide regular sales reports, assessing partner impact and identifying risk areas.
Ensure the sales team strictly adheres to all internal regulations, standards, practices, and procedures.
Comply with all relevant external legislation and regulations regarding compliance requirements.
Budgeting
Manage performance incentives and process expense approvals within the allocated budget.
Requirements
Qualifications and Experience
Bachelor’s degree in a related field (Commerce, Insurance, Economics, etc.).
Certificate of Proficiency (COP).
Diploma in Insurance or LOMA.
Minimum of 7 years of relevant experience, with at least 4 years in a supervisory capacity.
How to Apply
Interested and qualified candidates should apply online via the CIC Insurance careers portal. Applications must be submitted by March 23, 2026. Please visit the official application link to apply.
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