Regional Head Corporate at Stanbic IBTC

Job ID: 55286

Job Sector: Insurance

Job Details

• 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 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

Key Responsibilities / Accountabilities

• Delivers on sale of insurance policies and premium income through focus channels for Stanbic IBTC Insurance Limited.
• Customer retention
• 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.

Preferred Qualification and Experience

• First Degree in any discipline
• Professional Qualification in Insurance will be an advantage
• An MBA will also be an advantage
• Wealth Management
• 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