Banc Assurance Manager

roomDar es Salaam

business_centerFull Time

book Direct Reports

bookmark Manager

directions_carDriving License Not Required

flagOnly Open to Tanzanian Nationals

businessInsurance

Summary

Banc Assurance Manager is responsible for formulating sound and appropriate policies and procedures that will stimulate bancassurance business to ensure service efficiency and cost effectiveness. The person shall be responsible for developing and managing insurance products to existing customers and to the general public through the company branch networks. Also she/he is accountable for supporting Banc Assurance team, business management and the overall performance of the insurance products in line to the agreed target.

Responsibilities

  • Managing Bancassurance unit as separate profit Unit of the company. Managing Bancassurance unit expenses and ensure it is within budget.
  • Managing Agency contracts and negotiating commission from each principal insurance company
  • Provide leadership to the insurance team for both life and non-life products and ensure all claims are managed as per agreed TAT.
  • Play a key role to ensure that all claims are well received, screened and decision made with agreed TAT
  • Provide the main link between the bank, Insurance companies, and Insurance agency to customers.
  • To systematically plan to insurance agency business to all branches in line with the annual plans.
  • To ensure that insurance UNIT operations are complying with the Tanzania Insurance Regulatory Authority (TIRA)
  • Opening and maintaining collection account of each Principal
  • Push sales of insurance products in order to attain targeted commission budget
  • Recruiting new insurance clients and maintain existing to meet the desired market share.
  • Managing and supporting sales activities in the branches.
  • Initiate, plan, organize and follow up on direct marketing activities individually.
  • Ensuring that customers are serviced with high standards and ethics
  • Selling banks core products (accounts, loans, and forex) to all non-banked insurance clients
  • Ensuring that all products sold are in compliance with BOT Banc-assurance guideline and TIRA
  • To maintain sound and active relationship with Bancassurance regulators and keep updated with any industry changes
  • To produce daily, weekly, monthly and quarterly Bancassurance Sales reports to management
  • To prepare Monthly and quarterly regulatory reports (TIRA and BOT).
  • Prepare and conduct regular training to staff on insurance products and how to sell Insurance products
  • To develop a sound succession plan for the Bancassurance unit
  • To identify Knowledge Gap on Insurance products and develop a training program which will cover the Gap

Education and Qualifications

  • Degree in Insurance and Risk management or equivalent insurance experience with COP certificate.
  • A Master's degree in the insurance and risk discipline would be an added advantage.

Requirements

  • A minimum of 3 years working experience in the insurance industry.
  • Comprehensive knowledge of the Tanzanian Insurance business.
  • Conversant with insurance product offerings in the wider financial services industry
  • Effective communications skills, organizational skills, and ability to respond to requests effectively and efficiently.
  • Understanding of BOT and TIRA guidelines on Bancassurance
  • In-depth knowledge of current computer system functions, input procedures, codes, report capabilities, and configuration.
  • Ability to plan and conduct training sessions to staff members on insurance products and sales
  • Ability to carry out detailed written or verbal instructions with multiple concrete and abstract variables.

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Insurance: 3 Years

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