Centenary Bank
Job Purpose:
Reporting to the Bancassurance Manager, the incumbent is responsible for responsible for growing insurance business within assigned bank branches. This includes developing sales strategies, training bank staff, and ensuring that insurance products are effectively cross-sold to bank customers. He/She acts as an intermediary between the bank’s customers and insurance companies by assessing insurance needs of the customers, researching and recommending suitable policies from various providers, negotiating terms, and assisting with claims, essentially finding the best coverage for clients by leveraging their knowledge of the insurance market and building strong client relationships.
Key Responsibilities:
1. Sales and Business Growth
- Achieve assigned sales targets for bancassurance products.
- Develop and implement strategies to increase insurance penetration in bank branches.
- Identity potential business opportunities and expand the customer base
- Helping clients articulate their current and future insurance needs
- Researching insurance policies and products
- Negotiating policy terms and costs with insurance providers
- Explaining policy terms to clients
2. Relationship Management
- Build and maintain strong relationships with bank branch staff, insurance teams, and customers.
- Provide support to branch staff to improve product knowledge and sales performance.
- Work closely with bank relationship managers to drive joint sales initiatives.
3. Training and Product Knowledge
- Conduct regular training sessions for bank employees on insurance products, sales techniques, and compliance requirements.
- Ensure bank staff understand and can effectively promote insurance offerings.
4. Customer Service and Support
- Assist in resolving customer queries and claims processing.
- Ensure excellent after-sales service to enhance customer satisfaction and retention.
- advising clients on making claims on their policies
5. Compliance and Reporting
- Ensure all sales activities comply with regulatory and company policies.
- Provide regular reports on sales performance, challenges, and opportunities.
- Preparing reports for Bancassurance Operations Officers
6. Premium Reconciliations
- Collecting insurance premium
- Keeping detailed computer records
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.
- Proficiency in Microsoft Office and insurance management systems.
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.