Role Purpose.
The purpose of this role is to drive the new venture embedding it into how members save, borrow, and protect their assets, and turning it into a trusted, profitable arm of the Sacco.
Duties and Responsibilities
Identify and develop insurance products that deliver value to the SACCO and its members, while negotiating with insurance providers to secure competitive and favorable terms.
Lead innovative marketing campaigns and promotional initiatives to increase product awareness, visibility and member uptake.
Assessing the risks faced by Sacco and customers and recommending appropriate insurance products to mitigate these risks.
Assisting members in filing insurance claims and coordinating with insurance companies to ensure timely processing and settlement of claims.
Ensuring insurance products sold maximize returns and not concentrating with one type of insurance product.
Ensuring that the department complies with all regulatory requirements related to the Sacco, insurance, including licensing, reporting, and adherence to laws and guidelines.
Identifying opportunities to cross-sell insurance products to customers based on their needs and financial situations.
Providing clear communication channels, excellent customer service, addressing issues as they arise, and being a trusted advisor in matters related to insurance.
Educate members about the importance of insurance, different insurance products available and coverage options.
Monitoring for potential insurance fraud and taking appropriate measures to prevent fraudulent activities and unethical practices that could adversely affect the Sacco.
Qualifications and Experience
Bachelor's Degree in Insurance, Business Administration, Finance, or a related field.
Diploma in Insurance (AIIK) from the College of insurance
Minimum of 3 years of experience in Insurance.
Proven track record of achieving and exceeding expectations.
Must have hands-on experience with at least one insurance software system.
Skills and Competencies
Strong sales and negotiation skills.
Excellent relationship-building and interpersonal skills.
Analytical mindset with the ability to interpret data and trends.
Effective communication and presentation skills.
Knowledge of insurance industry and regulatory requirements.
Proficiency in CRM software and MS Office application