Bancassurance Sales Officers at SBM Bank

SBM Bank View all jobs

  • Nairobi
  • Permanent
  • Full-time
  • 7 days ago
Job PurposeThe purpose for 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. Collaborate with key stakeholders internally and externally to optimize the bancassurance distribution channel. To implement sales plans/actions/ promotions and identify sales opportunities. To ensure compliance objectives are adhered to.Key ResponsibilitiesStrategy (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
Key Result Areas in strategy
  • Sustained Revenue Growth
  • Customer retention
  • Insurance product penetration
Compliance (10%)
  • Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
  • Ensures review and escalation if required of Sales administrative issues.
  • Responsible for compliance with business procedure manuals
  • Ensuring all claims are reported, tracked and resolved as per SLA by COE
  • Ensure compliance with 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
  • Zero tolerance to non-collection
  • 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, Credit card
Knowledge: Skills and Experience required for this Role
  • Sales and Marketing Skills ▪ Strong interpersonal skills to build and maintain relationships with bank partners, agents, and customers.
  • In-depth understanding of health insurance products, including coverage options, benefits, and exclusions.
  • Capability to provide training and support to bank staff and agents on selling insurance products.
  • Ability to adapt to changing market conditions, customer preferences, and organizational priorities.
  • Customer focus.
  • Ethical conduct, ensuring transparency and fairness in interactions with customers and partners.
Competencies required for this Role:
  • University degree, preferably in Commerce, Economics or Business Administration.
  • AIIK Diploma / CII Diploma or verifiable progress toward attainment of the same.
  • At least 1 year experience in Bancassurance sales.
  • Understanding of and experience with Insurance products and processes
Method of ApplicationInterested and qualified? Go to to apply

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