Overview

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.

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  • Job Position: Business Development Officer – Stanbic IBTC Insurance Limited Abuja
  • Job ID: 55289
  • Job Location: Lagos Island, Lagos
  • Job Sector: Banking

Job Description

  • Test Division Summary

Job Purpose

  • To grow and develop insurance premium in order to deliver profitable revenue streams to the Business and Group.
  • The Job holder will prospect and manage Corporates, including Insurance Brokers as channels in business development.
  • Providing tactical input into Unit strategy/ies that will enhance the Group’s vision to be the leading end to end financial solutions provider.
  • This will include cross sell to customers of the Group, potential customers from outside the Group and developing new market frontiers.

Job Responsibilities

  • Delivers on sale of insurance policies and premium income target through focus channels (Insurance Brokerage, Direct Sales & Marketing, etc) for Stanbic IBTC Insurance Limited across all product lines
  • Customer retention
  • Research and source potential clients and build long-term relationships with them by creating rapport through networking, cold calling and using referrals
  • Consultatively engage prospective clients to engage in a phone conversation and/or meeting to discuss insurance products
  • Collect information from clients on their risk profiles in order to offer them the proper solution
  • Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
  • Has a good knowledge and understanding of the peculiarities (renewal dates etc) of corporate institutions for the purpose of strategic engagements.
  • Has a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have Customer Value Proposition
  • Continuously monitor the market trends in the insurance industry, including regulatory and legal framework, with a view to assessing the possible impact on the insurance industry.
  • Assess customers risks through profiling of customer segments and understanding of their business
  • Ensure to close the loop with customers at all times. E.g. taking enquiries, ensuring prompt delivery of policy documents, proper awareness communication plan to support their decision making etc.
  • Conduct financial planning sessions with members of staff of corporate clients in conjunction with their respective brokers where applicable
  • Ensure simplicity in dealing all clients issues and inquiries
  • Build and enhance the trust of clients and brokers to foster referrals and repeat businesses.
  • Review periodically the insurance portfolio and liaise with technical to make recommendations. This could result in the development of new products or enhancement of existing ones.
  • Maintain relationship with internal stakeholders within CIB, PBB and Wealth.
  • Maintain and improve relationship with external customers which include insurance companies, brokers, direct Corporate clients/partners etc
  • Ensure strict adherence to regulatory requirements and ensuring no regulatory breach is recorded against the team in conduct and in doing business.

Job Requirements

  • First Degree in any discipline
  • Professional Qualification in Insurance will be an advantage
  • Wealth Management
  • In-depth knowledge of products and client management
  • In-depth knowledge of insurance products and market
  • Have relationships in the Insurance Industry
  • Broker/Bancassurance Management

Knowledge/Technical Skills/Expertise:
Technical Competencies:

  • Insurance Technical Competencies
  • Effective Business Communication
  • Presentation Skills
  • Compliance-Know-Your-Customer
  • Brand Management
  • Customer Understanding

How to Apply

Interested and qualified candidates should:
Click here to apply online

Tagged as: Business Development

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