Bancassurance Officers

April 5, 2024

Job Overview

  • Date Posted
    April 5, 2024
  • Location
    Expiration date
  • Experience
    2 Year
  • Gender
  • Qualification
    Bachelor Degree
  • Career Level

Job Description

Equity Bank is hiring Bancassurance Officers to support their branches in cross-selling and increasing the uptake of insurance products. As one of the region’s leading banks, their purpose is to transform the lives and livelihoods of people in Africa socially and economically by providing modern and inclusive financial services that maximize opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan, and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa.

Job Purpose:

This role is responsible for supporting the branch to cross-sell and increase the uptake of insurance products through collaborating with the team to identify opportunities and move them forward into the placement of covers, in line with Equity Bank’s overall strategy.

Key Responsibilities:

  • – Train the branch staff on the insurance products being distributed by EBIL
  • – Cross-sell insurance products to customers consuming other bank products (expected new policy sales: minimum 10 policies per month)
  • – Ensure existing insurance business is renewed at the right time (expected renewal target: minimum 85% every month)
  • – Achieve the expected periodical insurance business growth in the branch
  • – Achieve the expected business portfolio mix across different classes of insurance
  • – Join branch staff on marketing drives to sensitize customers on insurance products offered
  • – Assist the branch, particularly the credit department, to de-risk lending by obtaining relevant insurance policies for assets financed by the bank or used as collateral
  • – Oversee proper filing of customer insurance records and documents in the branch
  • – Assist branch customers in documentation and processing of insurance claims in collaboration with the HO Claims Department
  • – Enforce compliance on all insurance policies and procedures at the branch
  • – Support the branch in any other area as requested by the branch management
  • – Support the HO Bancassurance Team in project implementation as requested from time to time

Qualifications and Experience:

  • – Bachelor’s degree in Insurance or a Business-related degree (a Diploma in Insurance will be considered)
  • – Certificate of Proficiency (COP) in Insurance
  • – 2 years of experience in marketing or insurance sales
  • – Strong knowledge of compliance and regulatory requirements in both banking and insurance sectors

Key Competencies & Skills:

  • – Good interpersonal skills
  • – Excellent communication skills
  • – Relationship management capabilities
  • – Highly organized and detail-oriented
  • – Demonstrate alignment with Equity Bank’s culture and values

Equity Bank is seeking talented Bancassurance Officers to drive insurance sales and support their branches in providing comprehensive financial services to their customers.