Centenary Bank
Job Purpose:
Reporting to the Bancassurance Manager, the incumbent is responsible for ensuring the smooth processing and administration of bancassurance activities. This includes policy processing, compliance monitoring, documentation management, claims coordination, and operational support to the bancassurance sales team.
Key Responsibilities:
1. Policy Processing & Administration
- Ensure timely processing of insurance applications, endorsements, and renewals.
- Preparing quotations, invoices and quote slips
- Sending insurance applications (closings) to insurers
- Facilitate issuance and submission of policy documents to customers
- Maintain accurate records of policies issued, premium payments, and client details.
2. Claims Handling & Customer Support
- Assist in coordinating claims processing between customers, the bank, and the insurance provider.
- Track and follow up on claims to ensure timely resolution.
- Address customer inquiries regarding policy details, claims, and premium payments.
3. Compliance & Risk Management
- Ensure adherence to regulatory and company policies related to bancassurance operations.
- Monitor compliance with internal processes and report any discrepancies.
- Assist in preparing reports and audits related to bancassurance operations.
4. Reporting & Data Management
- Maintain up-to-date records of bancassurance transactions and provide periodic reports.
- Support data analysis to track business performance and identify trends.
- Prepare operational reports for internal stakeholders and regulatory bodies.
- Perform reconciliations of all bancassurance accounts.
5. Reporting & Data Management
- Provide operational support to the bancassurance sales team and bank relationship managers.
- Ensure smooth coordination between the bank and the insurance partner for operational efficiency.
- Assist in training bank staff on operational processes related to insurance products.
Qualifications, Experience, and Skills/Competencies
- Bachelor’s degree in Commerce, Banking, Economics, Social Sciences, Business Administration, Marketing or any business-related field. This is the primary requirement. Those with professional qualifications in insurance will have an added advantage.
- 3 years’ experience at officer level in insurance or related financial services
- Strong understanding of insurance products, policies, and processes.
- Excellent organizational, analytical, and communication skills.
- Banking and / or Insurance Knowledge: Deep understanding of various banking and / or insurance products
- Sales Skills: Excellent communication, presentation, and negotiation abilities to effectively sell insurance solutions.
- Client Relationship Management: Ability to build trust and rapport with clients, providing exceptional customer service.
- Analytical skills: Ability to analyze client needs and risk profiles to recommend appropriate insurance coverage.
- Market Awareness: informed about industry trends, new products, and market dynamics.
Applications for the Position:
Applications with Curriculum Vitae (both cover letter and CV should be saved in one PDF file) should be emailed to: recruitment@centenarybank.co.mw
Please indicate on the email subject line the position you are applying for.
The closing date for the receipt of applications is Friday, 28th March, 2025.
Only shortlisted applicants will be acknowledged.