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
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