The General Insurance Lead, Commercial Bancassurance will be responsible for building, nurturing, and expanding general bancassurance partnerships to enhance revenue, customer reach, and brand presence. The candidate will play a key role in creating synergy between banking and insurance operations, identifying cross-selling opportunities, and driving new initiatives that align with the bank's growth objectives.
Strategic Planning and Development
- Develop and implement a partnership strategy that aligns with the bank's goals for growth and market expansion.
- Expand suitable General Insurance product offering to Commercial Banking customers (Ie: needs identification, product approval, product launching, post launching analysis).
- Conduct market research and competitive analysis to identify trends, customer needs, and opportunities for Banca within Commercial Banking environment.
Partnership Management
- Act as the primary relationship manager for General Insurance Business Partner
- Plan and execute key strategies with the agreed timeline to ensure win-win partnerships.
- Monitor partnership performance through KPIs and regular evaluations to ensure alignment with business goals.
Cross-Functional Collaboration
- Collaborate with sales, product, and marketing teams to design joint go-to-market strategies.
- Work with the legal and compliance departments to ensure all partnership agreements meet regulatory requirements.
- Coordinate with customer service and operational teams to ensure seamless service delivery and customer satisfaction.
Sales and Revenue Growth
- Drive sales growth through effective cross-selling of partner products to bank customers via traditional distribution channel & digital channel.
- Track revenue and performance metrics to identify areas for improvement and new revenue opportunities.
Market and Product Innovation
- Identify and implement new initiatives within the banca channel to stay competitive.
- Propose innovative partnership structures and product offerings based on customer needs and market trends.
- Lead pilot programs for new products and channels, analyzing results and scaling successful initiatives
Skillset enhancement
- Work with insurance provider to develop and execute training programs to equipped bank staff with the knowledge and skills to promote and refer General Insurance products (Fire & Non Fire) to insurance provider.
- Regular sales coaching and guidance to the RM and leaders on how to spot General Insurance opportunities with the objective of increasing product per customer ratio
- Joint marketing with the RM/ leaders to provide knowledge transfer for General Insurance
- Point of contact for General Insurance related matter
Key Skills & Competencies:
- Proven experience in strategic partnership or business development within the financial services or insurance industry.
- Strong understanding of bancassurance sales, operations, insurance products, and banking distribution channels.
- Excellent communication and influencing skills with a focus on win-win outcomes.
- Data-driven decision-making with strong analytical skills.
- Experience with regulatory and compliance standards in financial services.
- Strong analytical and interpersonal skills
- Experience in managing sales team
- Experience in Banca sales environment will be added advantage
Qualifications:
- Bachelor's degree in Business, Marketing, Finance, or related field.
- Minimum 8 years of experience in strategic partnership management, preferably in General bancassurance.
- Experience with product management, cross-functional leadership and project management.
