Faulu MFB - Bancassurance Business Development Officer at Old Mutual Kenya

JOB SUMMARY

The Bancassurance Business Development Officer is responsible for driving growth of the Bancassurance portfolio through sales, customer acquisition, cross-selling, and relationship management across Faulu's branch network. The role focuses on increasing insurance penetration, growing premium income, supporting branch teams, and delivering customer-focused insurance solutions in line with Faulu's strategic objectives.

KEY TASKS AND RESPONSIBILITIES

KEY MEASURABLE GOALS


Achievement of premium income targets
Number of new and renewed policies sold
Lead conversion rates
Portfolio growth and customer retention
Branch staff engagement and training sessions conducted
Customer satisfaction levels
Timely and accurate reporting
Compliance adherence


KEY RESPONSIBILITIES

Business Development & Sales Growth


Drive growth of both life and general insurance business across assigned branches and customer segments.
Develop and execute business development strategies aimed at increasing insurance uptake, portfolio growth, and revenue generation.
Identify, prospect, and convert new business opportunities from existing customers, referrals, walk-ins, and bank-generated leads.
Actively cross-sell insurance products alongside banking products to deepen customer relationships and improve wallet share.
Achieve agreed monthly, quarterly, and annual premium income, policy issuance, and renewal targets.
Participate in sales campaigns, branch activations, customer engagement forums, and marketing initiatives to create awareness and generate leads.
Build and maintain a healthy sales pipeline to ensure continuous business growth and portfolio sustainability.


Relationship Management & Customer Experience


Serve as the primary liaison between customers, branch teams, and insurance underwriters to ensure seamless service delivery.
Build strong working relationships with Branch Managers, Relationship Officers, and frontline staff to promote a high-performance sales and referral culture.
Provide professional advisory services to customers on suitable insurance solutions based on their financial and risk management needs.
Ensure timely resolution of customer inquiries, complaints, claims follow-ups, and policy servicing matters to enhance customer satisfaction and retention.
Manage and nurture key client relationships to encourage repeat business, renewals, and long-term customer loyalty.


Operational Excellence & Compliance


Ensure accurate and timely processing of insurance applications, renewals, endorsements, claims documentation, and policy issuance.
Maintain accurate customer and policy records within the Bancassurance Management System and other reporting platforms.
Prepare and submit periodic sales performance reports, pipeline reports, and portfolio analysis to management.
Ensure strict adherence to Insurance Regulatory Authority (IRA) guidelines, Central Bank of Kenya (CBK) regulations, and internal policies and procedures.
Support audit, risk, and compliance reviews by ensuring proper documentation and process adherence.


Training, Coaching & Branch Capacity Building


Conduct regular training and sensitization sessions for branch staff on insurance products, sales techniques, compliance requirements, and customer engagement approaches.
Support branch teams through joint sales calls, customer visits, and practical coaching to strengthen insurance sales capabilities.
Promote product knowledge and awareness to improve staff confidence and referral conversion rates.
Collaborate with branch leadership to embed a strong Bancassurance sales culture within the branch network.


Product Development & Market Intelligence


Gather and analyze market intelligence on customer needs, competitor activities, emerging trends, and industry developments.
Provide feedback and recommendations on product enhancement, pricing, customer experience, and market opportunities.
Collaborate with insurance partners and internal stakeholders in the design, rollout, and promotion of new insurance products and solutions.
Monitor product performance and customer uptake to inform strategic decision-making and portfolio optimization.


SKILLS, KNOWLEDGE & COMPETENCIES ​


Strong interpersonal and communication skills
Proven ability to meet and exceed sales targets
Customer-centric with high integrity and attention to detail
Analytical with good understanding of risk and insurance underwriting
Self-driven, organized, and a team player
Proficiency in MS Office and insurance CRM systems


QUALIFICATIONS & EXPERIENCE


Bachelor's degree in business, Insurance, Marketing, or related field.
Diploma in Insurance (AIIK/ACII) or progress toward certification.
Minimum 2 - 3 years of experience in a sales role within insurance or financial services, preferably in Bancassurance.
Sound knowledge of general and life insurance products.
Experience in managing relationships with underwriters and brokers is an added advantage.