Bancassurance Relationship Manager

Retail & Digital Banking – Dar es Salaam (Ilala)

Job Purpose

To drive growth and profitability of the Bancassurance business within the corporate segment by developing and managing customized insurance solutions that meet clients’ risk and coverage needs. The role focuses on enhancing fee-based income, deepening relationships with corporate clients and insurance partners, and ensuring full compliance with regulatory and internal policies.

Key Responsibilities

1. Business Development & Revenue Growth

Identify, prospect, and secure new corporate insurance business opportunities.
Cross-sell insurance products to existing corporate customers in collaboration with Relationship Managers.
Develop tailored insurance solutions aligned with clients’ risk profiles and coverage needs.
Achieve agreed annual targets for insurance premium generation and non-funded (fee-based) income.
Monitor renewals to ensure 100% retention of existing clients and timely placement of insurance covers.

2. Relationship Management

Build and maintain strong relationships with key corporate clients, insurance companies, and intermediaries.
Conduct regular client reviews to assess insurance needs and service satisfaction.
Serve as the primary point of contact for corporate clients on all insurance-related matters.

3. Product Development & Customization

Collaborate with insurance partners to design and customize products suitable for corporate clients (e.g. property, marine, liability, group life).
Provide feedback to management on product performance, client feedback, and market trends.

4. Operations & Compliance

Ensure all insurance placements and renewals comply with regulatory requirements and internal policies.
Facilitate timely issuance of policy documents, premium collection, and claims settlement.
Liaise with internal audit, compliance teams, and regulators during reviews or inspections.

5. Reporting & Coordination

Prepare and submit accurate and timely performance reports, including sales performance, pipeline tracking, renewal schedules, and revenue updates.
Maintain an up-to-date database of corporate insurance business.
Collaborate with internal teams to ensure smooth execution of bancassurance transactions.
Participate in training and professional development initiatives.

Key Performance Indicators (KPIs)

Achievement of annual insurance premium and fee income targets.
Minimum 90% renewal/retention ratio on existing business.
Zero regulatory or compliance breaches.
Adherence to service turnaround time (TAT) standards.
90% or higher client satisfaction rating based on feedback surveys.

Qualifications and Experience

Academic / Professional Qualifications

Bachelor’s degree in Insurance, Risk Management, Business Administration, or a related field.
Professional insurance qualification (mandatory).

Experience

Minimum of 5 years’ experience in the insurance or banking industry.
At least 2 years’ experience in a corporate insurance or bancassurance role.

Skills, Knowledge & Competencies

Strong understanding of corporate insurance products and risk solutions.
Excellent relationship management and negotiation skills.
Strong communication and presentation abilities.
Solid analytical, financial, and reporting skills.
Knowledge of bancassurance regulatory requirements.
High level of integrity with a strong customer service orientation.

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To apply for this job please visit imbank.bamboohr.com.

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