Job Title: Bancassurance Officer (Several Positions)
Organisation: NIC General Insurance
Duty Station: Kampala, Uganda
About Organisation:
NIC General Insurance Company Limited is a wholly owned subsidiary of NIC Holdings Limited (NIC). NIC General Insurance Company Limited was incorporated on 3rd March, 2014 and took over the general insurance businesses of NIC in compliance with the legal requirement for separation of insurance businesses under the Insurance (Amendment) Act.
Job Summary: Responsible for driving the growth of bancassurance business by providing insurance solutions to bank clients within assigned partner branches. The role focuses on identifying sales opportunities, closing business, and maintaining strong relationships with bank staff and customers to ensure seamless service delivery and goal attainment.
Key Duties and Responsibilities:
Sales & Business Development
- Identify and prospect potential clients within the bank branch to promote insurance products.
- Execute sales strategies to meet and exceed monthly premium targets.
- Conduct professional sales presentations and product demonstrations to bank customers.
- Lead negotiations and follow up on leads to ensure a high conversion rate of closed business.
Relationship Management & Collaboration
- Build and maintain a strong working relationship with bank staff (Branch Managers, Tellers, and Loan Officers) to facilitate referrals.
- Act as the primary liaison between the insurance company and the partner bank branch (e.g., DFCU).
- Ensure that the MOU requirements between the insurance company and the bank are strictly adhered to.
Operations & Customer Service
- Provide accurate and timely information to clients regarding policy features, benefits, and pricing.
- Assist clients with the completion of proposal forms and ensure all required documentation is collected.
- Support the claims process by providing initial guidance and gathering necessary information from claimants.
- Maintain a high standard of professional demeanor and appearance consistent with the banking environment.
Reporting & Performance Tracking
- Prepare and submit daily/weekly activity reports to the supervisor regarding leads generated and sales closed.
- Monitor personal sales performance against set KPIs and implement improvement plans where necessary.
- Keep up-to-date with market trends and competitor offerings within the bancassurance space.
Compliance & Governance
- Ensure all sales activities comply with regulatory requirements and internal company policies.
- Maintain high levels of integrity and transparency in all customer dealings and financial transactions.
- Gross Written Premium (GWP): Achievement of monthly and quarterly sales targets.
- Conversion Rate: Percentage of bank referrals successfully converted into closed policies.
- Customer Retention: Rate of policy renewals and customer satisfaction scores.
- Documentation Accuracy: Error-free submission of proposal forms and KYC documents.
- Branch Relationship Score: Feedback from bank partners on collaboration and service quality.
Qualifications, Skills and Experience:
- Education: A Bachelor’s degree in Business Administration, Marketing, Insurance, or a related field.
- Experience: Previous experience in sales, marketing, or customer service, preferably within the insurance or financial services sector.
- Bancassurance Knowledge: Familiarity with bank operations or insurance products is an added advantage.
- Exceptional Sales Skills: Proven ability to persuade, negotiate, and close deals.
- Communication: Strong verbal and written communication skills in English and relevant local languages.
- Interpersonal Skills: Ability to build rapport quickly with diverse personalities.
- Self-Motivation: Results-oriented with the ability to work independently with minimal supervision.
- Professionalism: High level of integrity and a polished professional presence suitable for a banking hall.
- Problem-Solving: Ability to handle customer inquiries and objections effectively.
How to Apply:
All candidates should send their updated CVs via Email to: vacancy@nic.co.ug
NB: Only shortlisted candidates will be contacted.
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Level of Education: bachelor degree
Work Hours: 8
Experience in Months: no experience