Job Title: Bancassurance Associates
Company: Fosad Consulting Ltd
Job Type: Full Time
Experience: 1 year
Location: Lagos, Nigeria
Job Field: Insurance Sales / Marketing
Fosad Consulting Ltd is a business support services firm with offerings in Human Resource Management, Immigrations and Real Estate Consulting. We leverage our expertise and strategic alliances to support businesses. Our proposition is based on a deep understanding of the drivers of high performing businesses and the required business solutions that supports it. We work with clients to support their non-core business tasks to strategically position them for business success.
Our Client, a top notch player in the insurance Industry is seeking to hire apt and dynamic candidates who will function as Bancassurance associates in different designations where they have presence. The associates will be stationed to administer and promote the firms insurance products and offer advisory services to the banks client base.
The primary focus of this position is to generate income for the Company by Liaising with the banks; coordinating the existing relationship with Bank’s personnel and Relationship managers whilst providing profitable excellent customer service / relationship management.
Reports to: District Manager:
The Objectives are;
• To help increase/drive/improve revenue i.e GPW
• To help increase/drive/grow profit
• To help in channel penetration
• To help in brand visibility
Act as liaison with the bank
• Working closely with bank personnel to provide policies to the bank’s clientele.
• Managing our promotions and campaigns effectively to ensure market penetration.
• Working closely with District Managers in the preparation of proposals/ Product papers.
Bancassurance Sales (Financials):
• Achieving the assigned target in terms of revenue.
Customer Retention and Acquisition:
• Sending out and active follow up of Monthly Renewals.
• Soliciting for new businesses.
• Managing 3rd party relationships.
• Generation, monitoring and publish monthly (Life and General Business) Global and Retail reports on: – Production – Collection
• Monthly reconciliation to ensure our figures are accurate.
Bancassurance Administrative functions:
• Day to day management of channel’s activities for both Life and General Business activities.
• Market and product research analysis. (Customer product feedback & Competitors intelligence) to know what products we can improve on.
• Prompt response to all mails/requests (Quote, Underwriting, Documents and confirmation of authenticity) within agreed timelines in the SLA.
• Follow up on outstanding premiums and yet to be renewed policies.
• Process all Co – insurance transactions (Payment processing, Claims and Underwriting).
• Liaising with the below department on The Bank’s related issues.
Underwriting (Life and General Business)
Claims (Life and General Business)
Finance (Life and General Business)
• Follow up on outstanding proposals.
• Maintaining strong relationship with the Bancassurance officers
• Any other assigned duty.
• Bachelor’s Degree in economics, business studies or any related field
• A minimum of 1 years’ sales experience.
• Experience in customer service.
• Excellent Marketing and negotiation skills.
• Good Relationship management skills.
• Ability to self-motivate and manage self.
• Good I.T, budget and report writing skills.
• Ability to maintain high Grooming Standards.
• Excellent communication and interpersonal skills.
• Good planning and organisational skills.
• The ability to understand and analyse sales figures.
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