Main Responsibilities

• Strategy
• Execute the Bancassurance strategy to align with overall business objectives, identifying potential partner banks and financial institutions.
• Continuously assess and improve Bancassurance processes to enhance efficiency and customer experience.
• Drive operational excellence by setting clear goals, monitoring performance, and implementing improvement initiatives.
• Analyze Bancassurance sales data to identify trends and opportunities for improvement.
• Conduct customer needs analysis to recommend suitable life insurance solutions.
• Operational
• Bancassurance Partnerships. Establish and manage partnerships with banks and financial institutions to promote life insurance products.
• Sales and Revenue Generation. Drive life insurance sales through the Bancassurance channel, setting sales targets and developing sales plans.
• Market Intelligence. Monitor market trends and competitor offerings in the Bancassurance sector.
• Product and Sales Training. Coordinate with product development and training teams to equip bank staff with the necessary knowledge and skills to effectively promote life insurance products.
• Sales Reporting and Analysis. Prepare regular sales reports, track key performance indicators (KPIs), and provide insights to the senior management. Utilize data-driven analysis to inform strategic decisions.
• Ensure a customer-centric approach in all Bancassurance interactions. Work to enhance the customer experience
• and address customer feedback and concerns promptly.
• Ensure compliance with insurance regulations and internal policies.
• Manage allocated Bancassurance retail portfolio to meet retention targets and increase premium and lives volume.
• Cultivate and manage productive partnerships with partner banks and financial institutions.
• Promote life insurance products and services to bank clients. Leverage the bank’s customer base and referral network to generate leads and close life insurance sales.
• Implement Customer service journeys and put in place an annual customer touch point for each client and ensure that this is adhered to, and records maintained.
• Corporate Governance
• Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• People & Culture
• Team Leadership: Build and lead cross-functional teams, fostering collaboration, accountability, and high performance across diverse skill sets and departments.
• Retention KPI: Achieve a regrettable turnover rate below 5% annually within finance teams by promoting a supportive environment, career growth opportunities, and recognition.
• Employee Engagement Score (EES) KPI: Drive a 10% year-over-year increase in EES through team-building, transparent communication, and empowerment initiatives.
• Cultural Alignment Index (CAI): Attain the Company’s CAI target score by embedding Jubilee’s values (e.g., innovation, teamwork, excellence) into project execution and team dynamics.
• Skill Development: Provide mentorship and training to team members on departmental tools, techniques, and industry-specific knowledge, enhancing capability.
• Conflict Resolution: Mediate and resolve team conflicts or stakeholder disputes, maintaining morale and focus on project goals.
• Resource Advocacy: Advocate for team needs (e.g., additional resources, training) to senior management, ensuring departmental success and staff well-being.

Key Competencies

• Strategic thinking and business acumen for identifying growth opportunities.
• Excellent communication and negotiation abilities.
• Sales-driven and target-oriented mindset.
• Customer-centric approach and empathy.
• Financial acumen and understanding of life insurance products.
• Excellent data skills, Report writing and Presentational skills.
• Excellent leadership and team management skills to lead the bancassurance team.
• Strong relationship-building and negotiation abilities for managing external partnerships.
• Analytical mindset for data-driven decision-making and performance evaluation.
• Customer-centric approach, focusing on enhancing customer experiences.

Academic Background & Relevant Qualifications

• Bachelor’s degree in insurance, Finance, Business or any other related course
• Diploma in Insurance qualification will be an added advantage.
• LOMA/CII/IIK Qualification will be an added advantage.
• Minimum 6-8 years’ experience in a similar role
• Proven track record in sales and relationship management, preferably in the bancassurance or insurance sector.
• Proven track record of successfully implementing strategic initiatives and driving process improvements