Business Development Manager – Bancassurance at Kingdom Bank Limited

Responsibilities

• Development of the annual segment strategy and regular performance reviews against set revenue targets.
• Business growth of the MSME, Chosen Corporate Segments and achievement of segment targets.
• Risk management in the sales cycle and in all business transactions.
• Credit control resulting in a quality premium book
• Product Innovation in partnership with suitable insurance partners to provide responsive products to the target customers.

Sales & Business Development:

• Driving non-funded insurance sales along the micro, small & medium enterprises, and chosen corporate customer segments in line with the bancassurance growth strategy.
• Data mine the loan book and conduct targeted selling of insurance solutions to targeted customers.
• Synergize with the Kingdom Bank segment leaders and teams to optimize insurance businessg. through customer literacy forums, marketing activations and so on.
• Generate hitlists for targeted prospecting through calls, customer visits update sales tracker and reports on progress of daily sales activities.
• Make presentations to pitch sales to prospective customers and follow up leads to sale closure.
• Train branches on appropriate insurance solutions and provide them with the requisite support to drive non-funded income through insurance.
• Attend meetings to report on sales performance against targets, track, and report on annual strategy implementation progress.
• Ensure timely renewal of existing business in the segment portfolio and proactively address any service gaps to curb business attrition.
• Ensure premium is collected from policyholders as per the laid down procedures on all business underwrittenand placed.
• Performance of post-sale evaluations and after-sales service such as explanation of policy terms and conditions to newly onboarded clients.
• Innovate products in liaison with insurance partners to leverage on new opportunities and/or emerging clients’ needs.
• Cross – sell insurance solutions to bank borrowers and also bank services {Accounts, FDR, forex, etc.} to insurance customer to promote Kingdom bank as a one-stop shop.

Superior customer experience

• Key driver for not only customer satisfaction, but also building a base of promoters by enhancing superior customer experience and advocacy to drive competitive advantage, leading to faster organic growth andlower co
• Timely service support to branches on all business support required to generate insurance sales.
• Create a differentiated customer experience design, tailored to target customer needs, and optimizecustomer interactions with the brand, offerings, and touch points to consistently deliver and make continuousimprovements to the desi
• Link sales and service and embed superior customer service culture as the bedrock to grow the balance shee
• Solicit customer feedback and craft a workplan to implement relevant recommendations for responsive customer engagements.
• Collection of market intelligence information local competition, products, levels of service and implement appropriate recommendations to impact delightful customer experience.

Risk & Compliance

• Ensure compliance with both external and internal regulatory requirements and the approved Policy and Procedures Manuals-both bancassurance and bank-wide.
• Adopt a risk-conscious approach in business transactions, in particular ensuring adherence to AML (Anti-Money Laundering) and CFT (Combat against Terrorism Financing) requirements.
• Provide recommendations for improving procedures and systems for initiating corrective action.
• Attend risk management trainings to sharpen knowledge on emerging risk trends and to influence risk conscious behavior.
• To perform any other duty as assigned in line with the organizational goals and objectives.

Qualifications

• A university degree preferably in a business-related fie
• Certificate Of Proficiency in insurance at minimum, good advancement in ACII or AIIK is desirable.
• Minimum of 5 years’ experience in insurance business development, preferably in be a busy bancassurance intermediary or insurance brokerage.
• Experience in insurance sales management, marketing, and customer relationship management