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Manager - Bancassurance

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Reference Number: JLIL 280
Location: Nairobi, Kenya
Reporting To: Head of Alternative Distribution and Partnerships
Application Deadline: 10th January 2025
Apply At: Recruitment@jubileekenya.com

About Jubilee Insurance

  • Established in 1937, the first locally incorporated insurance company in East Africa.

  • Largest composite insurer in East Africa, offering Life, Pensions, General, and Medical Insurance.

  • Serving over 1.9 million clients with a network across Kenya, Uganda, Tanzania, Burundi, and Mauritius.

  • Listed on three East African stock exchanges: NSE, Dar es Salaam, and Uganda.

  • Highly rated on leadership, quality, and risk management (AA- in Kenya and Uganda; A+ in Tanzania).

  • Visit www.JubileeInsurance.com for more details.

Role Purpose

  • Cultivate, maintain, and expand Bancassurance relationships.

  • Drive revenue growth through exceptional customer service.

  • Meet retention targets, increase profitability, and expand the portfolio.

Key Responsibilities

Strategy

  • Execute the Bancassurance strategy to align with overall business goals.

  • Identify potential partner banks and financial institutions.

  • Assess and enhance Bancassurance processes for efficiency and customer satisfaction.

  • Monitor and analyze Bancassurance sales data to identify trends and opportunities.

  • Conduct customer needs analysis to recommend suitable life insurance solutions.

Operational

  • Establish and manage partnerships with banks and financial institutions.

  • Drive sales through Bancassurance, set targets, and develop sales plans.

  • Monitor market trends and competitor offerings in the Bancassurance sector.

  • Coordinate product and sales training for bank staff.

  • Prepare regular sales reports, track KPIs, and provide insights to senior management.

  • Ensure customer-centric interactions and address feedback promptly.

  • Manage allocated retail portfolios to meet retention targets and grow premiums.

  • Implement annual customer touchpoints and maintain records of interactions.

Corporate Governance

  • Stay updated with insurance regulations and underwriting best practices.

  • Ensure compliance with statutory and regulatory requirements.

  • Establish mitigation measures for emerging business risks.

Leadership & Culture

  • Lead and manage a team of senior Bancassurance officers.

  • Foster ethical practices and a positive work environment.

  • Collaborate with cross-functional teams to promote an inclusive company culture.

  • Create individualized development plans for team members.

  • Monitor team performance and provide regular feedback and training.

  • Build departmental capacity and ensure adequate succession planning.

Key Competencies

  • Strategic thinking and business acumen.

  • Excellent communication and negotiation skills.

  • Sales-driven and target-oriented mindset.

  • Strong relationship-building and customer-centric approach.

  • Financial acumen and understanding of life insurance products.

  • Data analysis, report writing, and presentation skills.

  • Leadership and team management capabilities.

Academic Background & Relevant Qualifications

  • Bachelor’s degree in Insurance, Finance, Business, or related field.

  • Diploma in Insurance (advantageous).

  • LOMA/CII/IIK qualifications (advantageous).

  • 6–8 years’ experience in a similar role.

  • Proven track record in sales, relationship management, and strategic initiatives.

How to Apply

  • Send your application to Recruitment@jubileekenya.com.

  • Quote Job Ref. No: JLIL 280 and the position title.

Note:

  • Only shortlisted candidates will be contacted.

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Jubilee Insurance

Jubilee Insurance House, Wabera Street

Jubilee Insurance is the number one insurer in East Africa and is the only ISO certified insurance group listed on the Nairobi Securities Exchange, Dar es Salaam Stock Exchange and Uganda Securities Exchange. Jubilee Insurance was established in 1937 as the first locally incorporated insurance company. Since then, the company has spread its sphere of influence throughout the region to become the leading composite insurer in East Africa with a network of offices in Kenya, Uganda, Tanzania, Burundi and Mauritius.