Senior Manager - Bancassurance

EFU Life Assurance Ltd. is seeking an experienced Senior Manager - Bancassurance to lead and enhance the bancassurance business channel. This position requires a highly skilled professional with at least eight years of specialized experience in insurance and bancassurance sales. The Senior Manager will be responsible for strategically developing and executing comprehensive sales plans focused on achieving growth targets and expanding the companys market share. This role involves leading a team of 20 professionals, fostering a collaborative and high-performance culture while ensuring alignment with company objectives and regulatory standards. The Senior Manager plays a pivotal role in cultivating strong partnerships with channel stakeholders, managing operational workflows, and utilizing data analysis to optimize sales forecasting and marketing strategies. The role demands deep expertise in insurance product design, underwriting, regulatory compliance, and financial analysis. This leader will drive business growth, customer satisfaction, and retention initiatives by serving as a key connector between internal teams, external partners, and clients. Continuous market analysis and proactive decision-making are essential to anticipate trends and risks while maintaining effective communication and project management practices.
Responsibilities
 

• Develop and implement comprehensive strategic sales plans to achieve bancassurance growth objectives and increase market share.
• Lead, mentor, and manage a team of 20 bancassurance professionals, fostering a culture of collaboration, continuous improvement, and high performance.
• Establish and maintain strong, effective relationships with channel partners to ensure clear communication, mutual goals, and alignment with sales targets.
• Conduct thorough market analysis to identify new business opportunities, monitor industry trends, and assess competitive threats within the bancassurance sector.
• Use customer relationship management tools to monitor sales activities, manage client portfolios, and improve customer retention and satisfaction.
• Collaborate with underwriting, product development, and compliance teams to ensure insurance products are competitive, meet client needs, and adhere to regulatory requirements.
• Analyze sales data and review operational workflows to identify opportunities for process improvements, enhancing channel efficiency and effectiveness.
• Oversee policy administration system accuracy and compliance to ensure smooth, compliant policy issuance and servicing.
• Manage and optimize sales forecasting, budgeting, and resource allocation to align initiatives with overall corporate goals and financial targets.
• Engage with a diverse range of stakeholders, including internal departments, external partners, and clients, to drive integrated bancassurance strategies and initiatives.
• Lead project management efforts for new bancassurance product launches, sales campaigns, and marketing initiatives to support business growth objectives.
• Develop and execute client retention strategies aimed at minimizing churn and maximizing long-term customer value and loyalty.
• Stay updated on regulatory changes, industry best practices, and market developments to maintain compliance and competitive advantage.
• Communicate regularly with team members, channel partners, and senior management to report on performance metrics, challenge resolution, and progress toward strategic goals.
• Coordinate cross-functional teams to improve operational efficiency and enhance the overall customer experience within the bancassurance channel.