Business Development Executive – Bancassurance

JOB PURPOSE:

The Jobholder is primarily responsible for growth of the Banc assurance insurance book by bringing in new business and sustaining existing business in line with the company’s strategic plans. The Jobholder will also be required to grow business along some key relationships in the Broker channel as will be guided by the line manager.

PRINCIPAL ACCOUNTABILITIES:

• Grow the Banc assurance insurance book by bringing in new business as per the set targets.
• Collect market intelligence in regards to insurance products and relay the same to the relevant parties.
• Create a working relationship with the key contacts in the banks and grow business to meet the set targets through establishing and initiating more schemes with new banks.
• Organize training in insurance products for the staff of the banks.
• Suggest new/emerging products/marketing channels for products/service distribution.
• Obtain the correct and full details of the risk for quotation purposes and apply suitable rates.
• Submit quotation for approval/signing to Supervisor/Asst. Manager or Manager and delivered on time.
• Ensure all necessary documentation (Proposal/endorsements) required by banks are availed on time.
• Ensure renewal notices for various schemes are given on time and followed.
• Have a rapport with some key brokers and assist in getting new business from the broker relationships.
• Any other duty assigned from time to time by the Line Manager.

KNOWLEDGE AND EXPERIENCE (Qualifications)

Minimum Academic Qualifications:

• Bachelor’s degree in commerce/business

Professional Qualifications:

• Diploma in Insurance (AIIK or ACII) or progress towards the same.
• Knowledge of a broad range of Insurance products

Experience:

• 3 years’ experience in sales, preferably in Bancassurance/Broker Channels

SKILLS AND COMPETENCIES.

• Analytical thinking.
• Ability to collate data, information and make informative observations.
• Strategic perspective.
• Flexibility.
• Customer service orientation.
• Understanding of financial/investment markets.
• Team player.
• Creative Thinking.
• Inter-personal skills.
• Basic Financial literacy-IFRS 9 and 17 Basic Understanding.