a development manager – bancassurance is a professional responsible for managing and developing the bancassurance channel for a company, most often in the insurance industry. this means they work with banks to sell insurance products to the bank's customers. they are a crucial link between the insurance company and the partner bank, focusing on business growth, team management, and achieving sales targets through the bank's network.
key responsibilities
relationship management: build and maintain strong, long-term relationships with key bank officials at various levels, from branch managers to regional heads. this is essential for ensuring the bank's cooperation and support in selling insurance products.
sales strategy: develop and implement a sales strategy for the bancassurance channel. this includes setting targets for the bank's sales teams, creating and executing sales plans, and identifying opportunities for cross-selling and up-selling insurance products to the bank's customer base.
training and development: conduct training sessions for bank staff on the features and benefits of the insurance products. the development manager acts as a product expert, ensuring the bank's employees are well-equipped to sell and service insurance policies.
performance monitoring: track the sales performance of the bancassurance channel. this involves analyzing sales data, monitoring the bank's sales teams' performance, and providing regular reports to both the insurance company and the bank's management.
troubleshooting: act as the first point of contact for any issues related to bancassurance sales, such as policy issuance, claims processing, or customer service.