Deputy Manager, Bancassurance Relationship Management - TJ / 1939092

Our client, EFU Life Assurance Ltd., is seeking a Deputy Manager for Bancassurance Relationship Management based in Karachi. The ideal candidate will have a minimum of four years of relevant experience and will be responsible for developing and maintaining strong relationships with bancassurance partners to support the effective distribution of insurance products. This role requires a deep understanding of insurance products, regulatory compliance, and customer needs analysis to enhance client retention and satisfaction within the bancassurance channel.

The Deputy Manager will work closely with sales, marketing, and claims teams to deliver seamless insurance solutions tailored to client requirements. Although this position does not involve direct team management, the individual will play a key role in supporting training initiatives to strengthen bancassurance knowledge across departments. Additionally, the role involves conducting detailed risk assessments, performing insurance underwriting, and applying actuarial analysis to support product design, pricing, and performance monitoring. The Deputy Manager will also recommend improvements to grow the bancassurance portfolio and increase market share.

Key Responsibilities

- Develop and maintain strong relationships with bancassurance partners to facilitate the distribution of insurance products.
- Conduct comprehensive risk assessments and perform insurance underwriting in alignment with company policies and regulatory standards.
- Apply actuarial analysis to assist in the design, pricing, and adjustment of insurance products based on risk and market evaluations.
- Manage and nurture customer relationships within the bancassurance channel to improve client retention and satisfaction.
- Collaborate effectively with sales, marketing, and claims departments to deliver integrated insurance solutions and promptly address client needs.
- Monitor insurance product performance data, analyze trends, and generate actionable insights to recommend product improvements.
- Assist in planning and implementing strategic initiatives aimed at expanding the bancassurance portfolio and increasing market share.
- Ensure accurate documentation and timely reporting of underwriting and risk assessment activities.
- Stay updated with industry trends, regulatory changes, and competitor products to provide meaningful insights for strategic decisions.
- Support and contribute to training initiatives designed to enhance bancassurance knowledge and skills across relevant teams.
- Coordinate with bancassurance partners to efficiently handle customer inquiries and claims, maintaining high standards of service.
- Review underwriting guidelines and risk assessment frameworks regularly and recommend enhancements to improve business outcomes.

Required Qualifications

- Minimum of 4 years of experience in bancassurance relationship management or a related insurance function.
- Strong knowledge of insurance products, underwriting processes, and regulatory compliance.
- Proficiency in customer relationship management (CRM) platforms and tools.
- Ability to conduct risk assessments and apply actuarial principles in product design and pricing.
- Excellent interpersonal and communication skills to manage partner relationships and collaborate with internal teams.
- Analytical mindset with the ability to interpret product performance data and market trends.

Preferred Qualifications and Benefits

While specific benefits are not detailed, candidates with prior experience in training support and cross-department collaboration within the insurance sector will be highly valued. Familiarity with the bancassurance landscape and a proactive approach to continuous learning and improvement are advantageous.

This role offers an opportunity to contribute significantly to EFU Life Assurance Ltd.’s bancassurance growth strategy by leveraging technical expertise and relationship management skills in a dynamic and supportive environment.