The Business Development Manager – Bancassurance drives insurance sales performance by building strong partnerships with bank personnel and clients, leading the achievement of sales and GPW targets, and identifying growth opportunities across the bancassurance channel. The role ensures efficient execution of sales strategies, supports diversified portfolio growth, strengthens branch activation and platform engagement, and improves renewal performance. It upholds operational excellence through full compliance, audit readiness, governance alignment, and timely reporting. The BDM exercises underwriting and sales authority with sound risk assessment while managing costs and optimizing resources for joint bank initiatives. By monitoring key financial metrics, analyzing performance trends, and sustaining a healthy cost‑to‑income ratio, the BDM ensures channel profitability and long‑term business growth. The role also promotes future readiness by championing continuous learning, technical capability building, and skills development across the bancassurance network.
Key Responsibilities
KRA 1 Attainment of GPW Target – 20% Growth vs LY
- Activity | Deliverable 1: Develop and execute monthly and quarterly sales action plans to meet GPW milestones.
- Activity | Deliverable 2: Conduct sales performance reviews with bancassurance partners and strengthen branch‑level pipeline generation.
- Activity | Deliverable 3: Launch targeted sales campaigns to drive new business and high-value case closures.
KRA 2 Balanced Growth Portfolio Plan (Diversified Mix for 2026)
- Activity | Deliverable 1: Create annual and quarterly product mix strategies across key lines (Motor, Fire, PA, Marine, & Casualty).
- Activity | Deliverable 2: Coordinate with bank partners to promote a balanced product portfolio through tailored campaigns.
- Activity | Deliverable 3: Conduct product learning sessions to strengthen frontline capability to sell diversified lines.
KRA 3 Improve Renewal Ratio from 74% to 76% Across All Lines
- Activity | Deliverable 1: Implement a structured renewal follow‑up process with bank branches and sales teams.
- Activity | Deliverable 2: Provide monthly renewal recapture lists and coordinate branch action plans.
- Activity | Deliverable 3: Launch renewal activation campaigns and client re‑engagement program
Must-Have Qualifications
These are the non-negotiable requirements of the role. Be very specific and avoid generic descriptions. Refer to annex on the last two pages of this document for guidance on how to write specific position requirements.
- Minimum 5 years of experience in insurance sales, bancassurance, or financial services distribution, with a strong track record of meeting or exceeding sales and GPW targets.
- Proven experience managing bancassurance partnerships, including bank branch engagement, activation, and portfolio growth.
- Strong understanding of general insurance products across key lines (e.g., Motor, Fire, Personal Accident, Casualty, SME).
- Strong capability in relationship management with bank personnel at all levels—branch to regional—supporting sales enablement and channel productivity.
- Skilled in delivering sales presentations, product briefs, and capability-building sessions for bank frontliners.
- Excellent verbal and written communication skills, able to interact effectively with bank leaders, branch managers, and clients.
- Strong collaboration and influencing skills, especially in a matrix or partnership-driven environment.
Nice-to-Have Qualifications
These are requirements that will give a candidate an advantage. However, the job can still be done by someone who may not possess these.
- Working knowledge of underwriting principles, including application of sales authority and risk assessment on cross‑line products.
- Ability to use insurance digital platforms, CRM tools, and reporting dashboards (e.g., Salesforce, MS Forms, branch platforms).
- Demonstrated success in handling renewals, portfolio diversification, and driving branch-level performance.
- Demonstrated ability to conduct or facilitate technical product training, soft skills sessions, and competency development for sales teams or bank staff.
