Business Development Manager Insurance at NBC. March 2025

Business Development Manager Insurance

NBC

Location: Head Office NBC
Type: Full time
Posted On: Posted Today
End Date: March 14, 2025
Job Requisition ID: R-15972319

About Us

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

• Support Head of Insurance in effectively achieving revenue targets, deliver excellent service and meet productivity targets.

• Develop and manage a high-performing sales team through coaching, talent management programs and specialized training programs.

• Support overall Sales officers, Business development managers and Ro’s on processing their insurance leads to closure

Job Description

Accountabilities

Business Management 40%

• Achieve & drive agreed Insurance targets by managing and supporting a team of sales Officers through offering of a wide range of products and services.

• Develop and implement strategies to increase insurance sales across different business segments within the bank

• Identify new market opportunities, partnerships, and cross-selling initiatives within the bank’s ecosystem.

• Monitor and analyze business performance and propose action plans for continuous improvement.

• Supervise and support assigned sales teams in achieving their Bancassurance targets.

• Monitor sales performance and prepare reports

• Collaborate with Branch Managers, Business development managers, and insurance partners to drive business expansion.

• Ensure seamless coordination between the sales teams and insurance providers

Related: Head of Learning, Leadership, and Talent

People Management and Development 20%

• Create an empowering environment for team members, encouraging individual ownership and initiative for growth of Insurance Business.

• Set high performance and productivity standards for team delivery.

• Develop and communicate an annual plan to optimize the resources (Financial, human and physical) as agreed with the line manager in driving efficiency and growth of the business.

• Involve Head of Insurance and in developing the annual resource and capacity plans.

• Build and develop a high performing team, through embedding performance management and business insight that will facilitate strategic growth.

• Maximize performance sales Officers by identifying development of training needs and ensure coaching or delivery of training takes place.

• Provision of data and reports for effective performance management of the sales team

• Acts as escalation point for operational issues touching on sales teams

• Pursue own development to increase personal effectiveness, acknowledging strengths and areas for development

Customer Service Management 15%

• Proactively and professionally support sales officers to manage client experience by providing appropriate on job training and coaching on product and services delivery.

• Keep an active and accurate records/log of customers complains discussions/correspondences with clients and provide timely feedback on unresolved /resolved issues.

• Use client feedback to improve product and service offering.

• Participate in weekly performance review, and knowledge sharing meetings with the sales officers or any assigned business segment

• Understand and articulate aggregated cluster requirements feedback to shape the customer proposition and product offering

• Ensure high quality, knowledgeable service levels in branches to exceed customer expectations

• Build a motivated, committed and focused sales teams, consistently delivering creative, precise and customer-focused service

• Collaborate cross-functionally to provide high standard of service delivery

Risk, Control and Compliance Management 15%

• Ensure that All sales Officers review underwriting manual and collect relevant documentations as per the underwriting procedures

• Ensure sales Officers take accountability on the accuracy and quality of the documents of all underwriting materials and claims

• Review incident reports raised from branches and take required actions e.g. escalation, disciplinary action etc.

• Ensure premium bookings are posted on time and with accurate premiums as per the MRO

• Understand and manage risks and risk events (incidents) relevant to the role.”

• Contribute and deliver to the improvement of the risk profile by delivering improved governance, risk management, controls and compliance requirements.

Change Management 10%

• Comply and keep abreast of all policies, procedures, and circulars updates.

• Ensure self-development pertaining to career path to develop knowledge and skills

• Complete all critical compliance training

• Project manage all major organizational changes within the cluster such as organizational structure changes, IT/system changes or process changes, Process Improvement,

• Communicate strategic changes to branch management and ensure that any target changes are agreed.

Education and Experience Required:

• University degree preferably in Insurance, Actuarial, business/finance-related field.

• A master’s degree and/or accounting certification is an added advantage.

• Minimum of 3 years’ experience in a Bancassurance intermediary or busy insurance brokerage firm.

• Experience with customer management, insurance/banking operations, and relationship management

Related: Relationship Managers Corporate Banking at Equity Bank

Knowledge & Skills:

• Excellent sales, negotiation, and relationship management skills.

• Numerical Skills with Proficiency in use of Microsoft Excel.

• Ability to analyze data and provide strategic business insights.

• Strong leadership and team management skills.

• Good understanding of regulatory requirements in Bancassurance.

• Excellent communication and presentation skills.

Qualifications

Bachelor`s Degrees and Advanced Diplomas – Business, Commerce and Management Studies, Commercial mindset – Junior (Meets some of the requirements and would need further development), Customer Excellence – Service Delivery (Meets all of the requirements), Digital familiarity (Meets all of the requirements), Effective communication – Basic (Meets all of the requirements), Experience in a similar environment, Openness to change (Meets some of the requirements and would need further development), Product and/or Service Knowledge (Meets all of the requirements), Sales Management (Meets some of the requirements and would need further development)

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