Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.
Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.
We are recruiting to fill the position below:
Job Title: Business Development Officer – Stanbic IBTC Insurance Limited Abuja
Job ID: 55289
Location: Lagos Island, Lagos
Job Sector: Banking
- To grow and develop insurance premium in order to deliver profitable revenue streams to the Business and Group.
- This will include cross sell to customers of the Group, potential customers from outside the Group and developing new market frontiers.
- The Job holder will prospect and manage Corporates, including Insurance Brokers as channels in business development.
- Providing tactical input into Unit strategy/ies that will enhance the Group’s vision to be the leading end to end financial solutions provider.
- Delivers on sale of insurance policies and premium income target through focus channels (Insurance Brokerage, Direct Sales & Marketing, etc) for Stanbic IBTC Insurance Limited across all product lines
- Customer retention
- Research and source potential clients and build long-term relationships with them by creating rapport through networking, cold calling and using referrals
- Consultatively engage prospective clients to engage in a phone conversation and/or meeting to discuss insurance products
- Collect information from clients on their risk profiles in order to offer them the proper solution
- Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
- Has a good knowledge and understanding of the peculiarities (renewal dates etc) of corporate institutions for the purpose of strategic engagements.
- Has a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have Customer Value Proposition
- Continuously monitor the market trends in the insurance industry, including regulatory and legal framework, with a view to assessing the possible impact on the insurance industry.
- Assess customers risks through profiling of customer segments and understanding of their business
- Ensure to close the loop with customers at all times. E.g. taking enquiries, ensuring prompt delivery of policy documents, proper awareness communication plan to support their decision making etc.
- Conduct financial planning sessions with members of staff of corporate clients in conjunction with their respective brokers where applicable
- Ensure simplicity in dealing all clients issues and inquiries
- Build and enhance the trust of clients and brokers to foster referrals and repeat businesses.
- Review periodically the insurance portfolio and liaise with technical to make recommendations. This could result in the development of new products or enhancement of existing ones.
- Maintain relationship with internal stakeholders within CIB, PBB and Wealth.
- Maintain and improve relationship with external customers which include insurance companies, brokers, direct Corporate clients/partners etc
- Ensure strict adherence to regulatory requirements and ensuring no regulatory breach is recorded against the team in conduct and in doing business.
Preferred Qualification and Experience
- First Degree in any discipline
- Professional Qualification in Insurance will be an advantage
- Wealth Management
- In-depth knowledge of products and client management
- In-depth knowledge of insurance products and market
- Have relationships in the Insurance Industry
- Broker/Bancassurance Management
- Insurance Technical Competencies
- Effective Business Communication
- Presentation Skills
- Brand Management
- Customer Understanding