Manager, Bancassurance

  • Full Time
  • Lilongwe
  • Applications have closed

Standard Bank

Job Description

Key Responsibilities:

  • Develop and deliver innovative, cost-effective insurance solutions.
  • Scale insurance products across various client segments.
  • Implement solutions through bank platforms and third-party ecosystems.
  • Align insurance offerings with strategic value drivers.
  • Ensure products protect and safeguard clients’ interests.
Qualifications

Qualifications and Experience required

  • First degree in Business Commerce (Accounting or Business Administration) and Chartered Insurer certification
  • 5-7 years’ experience in insurance product development, scaling, and commercialization, with proven leadership in a comparable organization
  • Deep understanding of clients, partners, and markets, with experience in managing end-to-end insurance capabilities
  • Advanced knowledge of life and non-life insurance products, underwriting principles, and bancassurance regulations
  • Strong analytical, problem-solving, and communication skills with ability to build relationships with stakeholders at all levels
  • Experience in digital transformation and innovation within the insurance sector

Key Responsibilities

  • Act as the Insurance subject matter expert for business deal complexities and provide insight into the development of client value propositions within the Bancassurance sphere.
  • Define and monitor achievement of the financial and non-financial performance metrics required for Bancassurance in alignment with Group Insurance, country, and business unit teams.
  • Design Bancassurance solutions to address client life events, distributed through client engagement platforms and place the client and client experience at the centre of product and service design and delivery.
  • Conduct a complete needs analysis to identify gaps in respect of current cover, policy schedule, policy wording, excesses and unreasonable terms and conditions in order to address specific customer needs.
  • Consistently scan the environment to ensure best practices for quality and customer experiences are identified, investigated and implemented where appropriate.
  • Create an awareness of the Bancassurance offering in line with the identified distribution channels, target market and risk appetite.
  • Promote the features and benefits to suit the customer’s needs and align to best practices within the short-term insurance industry.
  • Identify opportunities, lead and drive innovative initiatives in order to source and secure new customers in order to grow the market share and optimize profitability for the Bancassurance business.
  • Promote, provide expert advice on selling and structuring a wide and diverse range of insurance solutions customized to best meet the financial needs of the Bank’s Corporate, Business and Personal customers.

 

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Manager, Bancassurance
Job Overview
Business Segment: Insurance & Asset Management
Location: MW, undefined, Lilongwe, undefined
Job Type: Full-time
Job Ref ID: 80200142A-0001
Date Posted: 11/4/2024
Job Description

Key Responsibilities:

  • Develop and deliver innovative, cost-effective insurance solutions.
  • Scale insurance products across various client segments.
  • Implement solutions through bank platforms and third-party ecosystems.
  • Align insurance offerings with strategic value drivers.
  • Ensure products protect and safeguard clients’ interests.
Qualifications

Qualifications and Experience required

  • First degree in Business Commerce (Accounting or Business Administration) and Chartered Insurer certification
  • 5-7 years’ experience in insurance product development, scaling, and commercialization, with proven leadership in a comparable organization
  • Deep understanding of clients, partners, and markets, with experience in managing end-to-end insurance capabilities
  • Advanced knowledge of life and non-life insurance products, underwriting principles, and bancassurance regulations
  • Strong analytical, problem-solving, and communication skills with ability to build relationships with stakeholders at all levels
  • Experience in digital transformation and innovation within the insurance sector

Key Responsibilities

  • Act as the Insurance subject matter expert for business deal complexities and provide insight into the development of client value propositions within the Bancassurance sphere.
  • Define and monitor achievement of the financial and non-financial performance metrics required for Bancassurance in alignment with Group Insurance, country, and business unit teams.
  • Design Bancassurance solutions to address client life events, distributed through client engagement platforms and place the client and client experience at the centre of product and service design and delivery.
  • Conduct a complete needs analysis to identify gaps in respect of current cover, policy schedule, policy wording, excesses and unreasonable terms and conditions in order to address specific customer needs.
  • Consistently scan the environment to ensure best practices for quality and customer experiences are identified, investigated and implemented where appropriate.
  • Create an awareness of the Bancassurance offering in line with the identified distribution channels, target market and risk appetite.
  • Promote the features and benefits to suit the customer’s needs and align to best practices within the short-term insurance industry.
  • Identify opportunities, lead and drive innovative initiatives in order to source and secure new customers in order to grow the market share and optimize profitability for the Bancassurance business.
  • Promote, provide expert advice on selling and structuring a wide and diverse range of insurance solutions customized to best meet the financial needs of the Bank’s Corporate, Business and Personal customers.
Additional Information

Behavioral Competencies:

  • Ability to build and maintain relationships with key stakeholders
  • Good communication and interpersonal skills in dealing with clients, team members, and other stakeholders.
  • Build and lead a high-performing bancassurance team, providing guidance, mentorship, and professional development.
  • Negotiate and manage partnership agreements to maximize mutual benefits.
  • Creative idea.

Technical Competencies:

  • Acquire a strong understanding of insurance regulatory compliance, products, and procedure
  • Generating regular reporting and analysis for senior leadership and stakeholders, summarizing key sales metrics, achievements, and challenges.
  • Financial Modeling & Business Acumen
  • Customer Understanding ( Consumer Banking)
  • Data Management (Trading, Transacting)
  • Planning, Forecasting and Budgeting
  • Sound market knowledge about the latest banking and insurance products.
  • Risk Management

 

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