Job Title: Manager – General Insurance
Organisation: DFCU Bank
Duty Station: Kampala, Uganda
Reports to: Head – Bancassurance/ Principal Bancassurance Officer
About US:
DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.
Job Summary: Reporting to the Head Bancassurance/ Principal Bancassurance Officer, the Manager – General Insurance will be responsible for driving the non-life Bancassurance sales strategy, delivery of customer growth and revenue ambitions and maximise the bank’s distribution network to maximise sales. The role holder will further be responsible for effective relationship management optimising customer satisfaction, retention, and wallet share.
The Manager- General Insurance will also be charged with identifying and commercialising new business and revenue opportunities.
Key Duties and Responsibilities:
- Sales and Revenue Growth: Drive non-life insurance product sales offered by the Bank’s prequalified insurers, by presenting proposals, negotiating terms, and closing deals to achieve revenue targets.
- Identifying potential customers and new business opportunities: to grow the non-life insurance portfolio by leveraging the bank’s database, cross-selling to existing customers, conducting market research, and seeking referrals.
- Policy Servicing and Renewals: Maintain an effective insurance tracker, to facilitate policy issuance, and servicing, and proactively engage with policyholders to facilitate timely renewals and address coverage-related inquiries.
- Risk, Audit and Compliance: comply with Banking and Insurance Regulations, industry standards, and Bank Policies in all business activities, while proactively identifying and addressing potential risks and instances of non-compliance and participating in the implementation of effective control measures.
- Reporting: Prepare regular reports on sales activities and pipeline status to evaluate progress against targets.
- Customer Training: Educate customers on insurance products, coverage options, claims procedures, and risk management strategies to help them make informed decisions and maximise the value of their insurance policies. Additionally, provide product training to bank staff and facilitate joint customer visits to bolster the Bancassurance portfolio.
- Promptly address and resolve customer complaints while actively fostering positive and high-quality interactions between the Bank’s sales teams and customers.
- Maintain good relations with insurers while diligently assessing their performance metrics to guarantee the delivery of high-quality services to customers.
- Continuous Learning and Professional Development: Stay updated on industry trends, market developments, and changes in insurance regulations to enhance knowledge and skills, contributing to personal and professional growth.
Qualifications, Skills and Experience:
- The applicant for the DFCU Bank Manager – General Insurance job must hold a University Degree from a recognised university.
- A Certificate in Insurance (CIU).
- A Diploma in Insurance (DIU) will be an added advantage.
- At least five years of Business Development in Insurance.
- Thorough knowledge of the financial services industry.
- High level of integrity and ethical
- Attention to detail, excellent analytical skills, and ability to demonstrate a high degree of accuracy.
- Excellent interpersonal, verbal, written, communications and independent judgement skills.
- Good organisational
- Excellent negotiation
- Conflict resolution skills.
How to Apply:
If you believe you meet the requirements as noted above, please forward your application with a detailed CV including present position and copies of relevant professional/academic certificates (University Transcript, O & A level), to the email address indicated below.
Deadline: 28th March 2024
Disclaimer: dfcu Bank does not solicit/accept payment in cash/kind from prospective candidates in exchange for shortlisting or job placement. Any candidate who engages in this kind of transaction is aiding and abetting fraud and will be automatically disqualified.