Bancassurance Development Officer at I&M Bank

Job Description

Job Purpose:

  • Reporting to the Bancassurance Development Manager, the role holder will be responsible for acquisition of insurance business within the assigned region/branch with the primary objective of growing the overall Bank`s Profitability through Non-Funded income generated from Insurance Sales Commission Income.


  • I&M Bank: Riverside Branch, Mombasa Branch, and Gateway Mall Branch

Key Responsibilities:

  • Driving growth in Bancassurance business across the region/branch through new business acquisition, cross sells and upsells with a focus to Personal Banking, Premium Banking and MSME customer Segments.
  • Execution of day-to-day insurance operations at branch level which entails sales, underwriting, policy documentation, claims documentation, facilitation premium payments etc.
  • Following-up on customer insurance policy renewals to ensure desired business retention rations are achieved through timely contact and engagements with respective customers in personal, premium and MSME segments.
  • Developing good business working relationships with branch manager, branch relationship officers & customer service officers to generate insurance business leads through their customers in Personal, Premium and MSME customer Segments.
  • Ensuring customer inquiries are resolved promptly as per laid down policies and procedures.
  • Championing Insurance products and all relevant business processes training at the branch level to sensitize branch staff on Bancassurance business
  • Ensuring full compliance with all regulatory and internal procedures in relation to Bancassurance business.
  • Ensuring all collaterals and assets which have Bank`s interest are properly and comprehensively insured and bank’s interest properly noted.
  • Ensuring debt level is managed proactively and in line with the laid down Bancassurance Debt Policy and underwriting Guidelines.
  • Checking and verifying the accuracy, completeness of the documents against checklists provided according to product lines; KYC/AML compliance requirements, in both underwriting and claims.
  • Achieving budgeted cross sell on Insurance Premium Financing (IPF).
  • Any other official duty that may be allocated by management from time to time.

Person Specifications:


  • A holder of university degree from a recognized university in Insurance, Business, Finance, or other related business fields.
  • Professional qualification in Insurance related field will also be an added advantage.
  • Certificate of Proficiency (COP) in Insurance.
  • At least two years active working experience in direct sales in a Bancassurance set up or Insurance company.
  • Exposure to Bancassurance processes and procedures will be an added advantage.

Key Competencies and Attributes:

  • Good interpersonal skills and ability to establish new client relationships and generate new and cross sell business.
  • Excellent understanding of Insurance products, underwriting processes, emerging market/industry trends and knowledge of bank processes and procedures.
  • Proven ability to develop and maintain effective work relationships with internal and external partners.
  • Team working skills with ability to deliver and exceed business targets.
  • Excellent business development and client relationship management skills.
  • Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies, and operating manual, with sound knowledge of bank products.