Assistant Manager Business Development – Bancassurance Section at Madison Group Limited

Key Responsibilities

Identify bancassurance business opportunities in banks and saccos, negotiate and close business deals within the company quality business guidelines to increase the market share.

Drive achievement of the annual, quarterly and monthly production budget targets.

Manage quality of business, productivity, and overall sales performance.

Provide accurate and competitive quotations for all the products lines and ensure they are delivered promptly to banks and prospective clients.

Conduct continuous product training for assigned banks, saccos and branch networks.

Exploit synergy with other Group companies to grow business.

Identify and evaluate new business opportunities, including potential partnerships, mergers, or acquisitions to enhance the organization’s capabilities and market positioning.

Collaborate with management team to set strategic goals and targets for the business development team, aligning them with the organization’s overall business objectives.

Monitor industry developments, regulatory changes, and emerging trends affecting Corporate life.

Provide insights and recommendations to the management team on product development, pricing strategies, and market positioning

Premium Collections – Collect all premiums of business debited as per the Company policy.

Monitor sales performance, track progress against targets, and provide regular reports to the management team.

Develop and maintain relationships with intermediaries, brokers, and strategic partners.

Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards

Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.

Embrace governance requirements with respect to KYC/AML/Data protection requirements per governing Acts.

Academic and Professional Qualifications required

Bachelor’s degree in Insurance or any other business-related field.

5 years’ experience in the insurance industry, with demonstrated success in insurance sales and business development

Professional qualification in IIK, CII or CIM.

Key Competencies

Business Development Acumen: Strong understanding of business development principles, strategies, and tactics within the corporate life sector.

Relationship Building: Excellent interpersonal skills to build and maintain strong relationships with internal & external clients, intermediaries and strategic partners.

Strategic Thinking. A strategic mindset with the ability to analyse market trends, competitor activities and regulatory changes to identify strategic business opportunities and risks.

Proficiency in conducting market research and analysis to identify target markets, customer segments, and industry trends.

Excellent verbal and written communication skills, including the ability to deliver engaging presentations, negotiate contracts and articulate complex concepts to clients and stakeholders.

Has a results-driven mindset with a focus on achieving business development targets and driving revenue growth.

Sound financial knowledge, including an understanding of corporate life products, pricing strategies and financial metrics.

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