Business Development Principal – Life at Equity Bank Ltd.
About the job
Job Purpose
Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa. Currently the Bank’s subsidiary (Equity Bancassurance Intermediary Limited (EBIL) is seeking additional talent to serve in the role outlined below:
The role plays a pivotal role in driving the growth and expansion of the firm’s insurance offerings within the general business, medical, and life insurance sectors. This role demands a strategic thinker with exceptional leadership skills, industry expertise, and a keen understanding of market dynamics.
Strategic Planning
Develop and implement strategic plans to
expand the firm’s presence in the General business/Medical/Life
insurance sectors. Identify growth opportunities, market trends, and
competitive threats.
Business Development
Lead business development initiatives to
acquire new clients and partnerships within the target sector. Build and maintain strong relationships with key stakeholders, including the
Bank, insurance carriers, brokers, and regulatory bodies.
Product Development
Collaborate with product development teams
to design innovative insurance products tailored to the needs of clients
in the General business/Medical/Life insurance segments. Conduct
market research and competitor analysis to ensure product
competitiveness.
Market Expansion
Drive the expansion of the firm’s market reach by
exploring new geographical territories and demographic segments.
Develop effective marketing strategies to promote insurance products
and enhance brand visibility.
Risk Management
Assess and mitigate risks associated with
business expansion initiatives, regulatory compliance, and market
fluctuations. Ensure adherence to legal and regulatory requirements in
all business activities.
Performance Monitoring
Establish key performance indicators
(KPIs) and metrics to measure the success of business development
initiatives. Monitor sales performance, revenue growth, and market
share to identify areas for improvement.
Stakeholder Management
Foster a culture of collaboration,
innovation, and excellence within the team and with the network of
Regional General Managers, Bancassurance Managers and Officers.
Client Relationship Management
Cultivate strong relationships with
existing clients to enhance client retention and satisfaction. Address
client inquiries, concerns, and feedback in a timely and professional
manner.
Risk Advisory
Research and identify sector clients (Life) to offer risk advisory services. Make risk management advisory services presentations to prospective and existing clients. Structure risk management solutions for individual and corporate clients. Generate advisory fees from risk management services offered in some instances. Arrange specialized types of insurance cover in complex cases to suit client’s operating activities. Research and keep up to date with technical aspects affecting risk, Carry out risk surveys or liaise with external stakeholders in provision of risk survey services to clients.
Qualifications
Qualifications and Experience
- Bachelor’s degree in Business Administration, Finance, Marketing, or a related field. MBA or relevant professional certifications
- preferred.
- At least 10years in business development, in the insurance, or Bancassurance industry
- Diploma AIIK
- Certificate of Proficiency in Insurance (COP)
Key Competencies & Skills
- Strong analytical skills with the ability to interpret data, identify
trends, and make strategic recommendations.
- Excellent communication, negotiation, and presentation skills.
- Demonstrated leadership abilities with a track record of building
and managing high-performing teams.
- Ability to thrive in a fast-paced, dynamic environment and adapt to
changing priorities.
Organization
Insurance
Employment Type
Regular
Job Level
Manager
Job Shift
Day Job
Job Posting
Jul 17, 2024, 6:20:10 AM