Overview
JOB TITLE: Business Development Manager Insurance
With a history spanning more than half a century, NBC is Tanzania’s longest continuously operating bank. Our wealth management services and solutions are available to individuals, small businesses, corporations, and investors.
Job Description
Ensure that the Head of Insurance meets productivity goals, provides outstanding service, and efficiently achieves revenue targets.
•Lead the development and improvement of a high-performing sales team via the implementation of training programs, talent management initiatives, and coaching.
Facilitate the finalisation of insurance leads for general sales officers, business development managers, and ROs.
Job Description
Accountabilities
Business Management 40%Manage and assist a team of sales officers in supplying a diverse set of products and services in order to achieve and drive approved insurance targets.
Create and execute plans to boost insurance sales for the bank’s various divisions.
Locate untapped business niches, potential alliances, and cross-selling opportunities within the bank’s network.
Monitor the company’s performance, assess it, and then devise a strategy to enhance it.
Assist and guide designated sales teams to meet their Bancassurance goals.
Keep tabs on sales figures and write up the results.
Driving business expansion requires collaboration with branch managers, business development managers, and insurance partners.
Make sure the insurance companies and sales teams work together well.
People Management and Development 20%
- Foster a culture of empowerment among team members by recognising and rewarding personal responsibility and initiative in driving the expansion of the insurance business.
Establish rigorous criteria for the efficiency and effectiveness of the team’s output.
Work with your line manager to establish and disseminate an annual plan for making the most of the company’s financial, human, and physical resources to boost productivity and expansion.
Contribute to the creation of the yearly plans for resources and capabilities with the head of insurance.
Embrace performance management and business intelligence to build and nurture a high-performing team that will facilitate strategic growth.
Get the most out of your sales officers by figuring out what they need to grow professionally and then making sure they get it.
Managing the performance of the sales team is made easier with the help of provided data and reports.
Serves as a point of contact for sales teams when operational concerns arise
Acknowledge one’s strengths and places for improvement while pursuing one’s own development to boost one’s personal effectiveness.
Customer Service Management 15%
Assist sales personnel in a proactive and professional manner in managing the customer experience through the provision of relevant on-the-job training and coaching regarding the delivery of products and services.
In a timely manner, provide feedback on issues that have been handled or remain unresolved, and maintain an active and accurate record of client correspondence, discussions, and complaints.
Incorporate customer comments into future service and product development.
Take part in sales officer or assigned business segment meetings for knowledge exchange and weekly performance evaluation.
Acquire knowledge of aggregated cluster requirements feedback and effectively communicate it to mould the product offering and client proposition.
Ensure that the branch staff is knowledgeable and delivers exceptional service, surpassing customers’ expectations.
Build sales teams that are passionate, committed, and goal-oriented; deliver exceptional customer service by consistently thinking creatively.
Deliver services to a high standard through cross-functional collaboration
Risk, Control and Compliance Management 15%
- It is imperative that all sales officers adhere to the underwriting processes by reading the manual and gathering the necessary paperwork.
Make sure that sales officers are responsible for ensuring that all underwriting paperwork and claims are accurate and of high quality.
Take appropriate action, such as escalating the situation or disciplining the offending employee, after reviewing incident reports submitted by branches.
Post premium bookings accurately and on schedule according to the MRO.
Comprehend and control all hazards as well as risk occurrences (incidents) that pertain to the position.
Help raise the risk profile by meeting or exceeding compliance standards in areas like governance, risk management, controls, and risk assessment.
Change Management 10%
- Follow all rules and regulations and stay current on any changes to policies, procedures, or circulars.
Make sure you’re constantly learning and growing in your career-related abilities and information.
Ensure that all essential compliance training is completed. Oversee and coordinate the implementation of all significant organisational changes within the cluster, including changes to structure, information technology, systems, or processes.
Make sure that branch management is aware of any strategic changes and that they agree with any new goals.
Education and Experience Required:
- Academic background, ideally in a business- or finance-related area, or insurance or actuarial science.
It is highly advantageous to have a master’s degree and/or certification in accounting.
At least three years of relevant work experience as an insurance broker or bancassurance intermediary.
Proficiency in managing relationships, insurance/banking processes, and customers
Knowledge & Skills:
- Excellent sales, negotiation, and relationship management skills.
- Numerical skills with proficiency in the use of Microsoft Excel.
- Ability to analyze data and provide strategic business insights.
- Strong leadership and team management skills.
- Good understanding of regulatory requirements in bancassurance.
- Excellent communication and presentation skills.
Qualifications
Bachelor’s and Master’s Degrees in Business, Commerce, and Management, Junior-level commercial attitude (satisfies some criteria but could use more work), Customer Excellence—Service Delivery (Meets all of the requirements), Digital familiarity (Meets all of the requirements), Ability to communicate effectively—Basic (satisfies all criteria), Working knowledge of the product or service, flexibility to adapt to new circumstances, and prior experience in a comparable setting are all necessary. The area of sales management could use some work, but it does meet some of the criteria.
How to Apply:
The position is a full-time job. To submit your application, please follow the link provided below.
