INTRODUCTION : -
Regional Head Corporate job opportunity is available at Stanbic IBTC Insurance Limited for individuals who possess relevant qualifications.
Test Division Summary
To grow and develop insurance premium in order to deliver profitable revenue streams to the Business and Group.
The Job holder will manage Corporates, including Insurance Brokers as channels in business development.
Creation of sales 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.
Develop sales channel strategy covering brokers, institutions , bancassurance channels etc
DUTIES AND RESPONSIBILITIES : -
Delivers on sale of insurance policies and premium income through focus channels for Stanbic IBTC Insurance Limited.
Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
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.
Support insurance knowledge and awareness within the Company and through various designated channels of Sales.
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.
Assess customers risks through profiling of customer segments and understanding of their business
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 stakeholders which include NAICOM, insurance companies, brokers, direct Corporate clients / partners etc
Ensure no regulatory breach is recorded against the team in conduct and in doing business.
Analyse the performance results of competitors to bench mark the company.
Supervise sales team members in ensuring :
Individual member development
Cohesive Team development
Fostering the organisational culture.
DESIRED EXPERIENCE & QUALIFICATION : -
First Degree in any discipline
Professional Qualification in Insurance will be an advantage
An MBA will also be an advantage
Insurance 7-10 years
In-depth knowledge of products, client management, managerial experience
Knowledge / Technical Skills / Expertise :
Ability to grasp business models within the Insurance space pertaining to utility of various products in order to deliver on the overall strategy of the business.
Ability to identify and dimension business risks as opportunities and engage clients to provide novel products and solutions within the overall sales and revenue strategy
Ability to use initiative within limits of authority, investigate to obtain additional information or deal with ambiguity and present opportunities to more senior stakeholders as appropriate
Insurance Principles : Understanding of the basic principles of insurance including good faith, insurable interest, indemnity, contribution, subrogation and proximate cause
Ability / flexibility to negotiate re-evaluation with superiors in line with changing business needs
Ability to identify potential problems and opportunities and pro-actively proffer solutions through the Stanbic IBTC Insurance offering in collaboration with other underlying asset and liability products