Senior Bancassurance Specialist

Description:

We are seeking an experienced Senior Bancassurance Specialist to manage and strengthen insurance distribution partnerships with banks and financial institutions. This role focuses on bancassurance product development, partnership coordination, sales performance monitoring, distribution strategy, regulatory compliance, and customer experience. The successful candidate will work remotely with banking partners, insurance providers, relationship managers, product teams, and compliance professionals to improve distribution effectiveness, support sustainable business growth, and ensure that bancassurance activities follow applicable insurance and financial services requirements.Key Responsibilities
Manage and develop bancassurance relationships with banks, financial institutions, and insurance distribution partners.
Coordinate the implementation of bancassurance strategies aligned with organizational business objectives and partnership agreements.
Support the development, review, and enhancement of insurance products distributed through banking channels.
Monitor sales performance, premium production, policy conversion rates, renewal activity, and partnership profitability.
Analyze bancassurance business trends and recommend initiatives to improve distribution performance.
Coordinate with banking relationship managers and insurance sales teams to support product awareness and distribution activities.
Review partnership performance reports and identify opportunities to strengthen customer engagement and product penetration.
Support the preparation and negotiation of commercial proposals, service-level agreements, distribution arrangements, and partnership documentation.
Coordinate product launches, campaign planning, training sessions, and sales enablement activities with banking partners.
Monitor the quality of insurance applications and policy documentation submitted through bancassurance channels.
Work with underwriting and operations teams to address application issues, processing delays, policy amendments, and customer service concerns.
Support the development of sales forecasts, business plans, performance dashboards, and management reports.
Monitor customer feedback, complaints, and service trends relating to bancassurance products.
Coordinate with compliance and risk management teams to review distribution practices, disclosure standards, and customer protection requirements.
Support the implementation of appropriate product governance, suitability assessments, and sales conduct controls.
Review commission structures, incentive arrangements, and distribution performance against approved contractual terms.
Identify operational risks, process gaps, and potential compliance concerns within bancassurance distribution workflows.
Coordinate with marketing teams to develop product communication materials and customer engagement initiatives.
Maintain accurate partnership records, meeting documentation, action trackers, and commercial performance reports.
Provide technical guidance and product knowledge support to banking and insurance distribution teams.
Monitor market developments, competitor offerings, and regulatory changes affecting bancassurance operations.
Recommend improvements to partnership management, distribution processes, reporting standards, and customer experience.
Qualifications and Experience
Bachelor's degree in Finance, Banking, Insurance, Business Administration, Economics, or a related discipline.
Professional insurance, banking, or financial services qualifications are an advantage.
Significant experience in bancassurance, insurance distribution, banking partnerships, or financial services business development.
Strong understanding of bancassurance operating models, distribution agreements, and bank-insurance partnership structures.
Knowledge of life insurance, protection products, savings products, investment-linked insurance, and general insurance offerings distributed through banking channels.
Experience managing relationships with banks, insurers, brokers, or other financial distribution partners.
Understanding of insurance sales processes, policy administration, underwriting coordination, and customer servicing.
Familiarity with sales performance metrics, premium production analysis, commission structures, and partnership profitability.
Knowledge of applicable insurance regulations, financial services requirements, customer disclosure standards, and distribution governance.
Understanding of customer suitability, fair treatment, product governance, and responsible sales practices.
Experience preparing commercial proposals, partnership reports, business plans, and performance presentations.
Strong analytical skills with the ability to interpret sales data, identify trends, and recommend business improvements.
Excellent communication, negotiation, and stakeholder-management abilities.
Strong presentation and relationship-building skills.
Ability to coordinate multiple projects and manage competing priorities independently.
Proficiency in Microsoft Office, CRM platforms, reporting tools, and relevant banking or insurance systems.
High standards of professionalism, confidentiality, and ethical conduct.
Ability to work effectively with distributed teams in a fully remote environment.