Business Development Officer (Ibadan) at Stanbic IBTC Insurance Limited

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Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is a full-service financial services group with major business focus on three pillars – Corporate and Investment Banking, Personal and Business Banking, and Wealth Management.

Stanbic IBTC Insurance Limited (“SIIL”) is a wholly-owned Life Insurance subsidiary of Stanbic IBTC Holdings PLC. Stanbic IBTC Insurance Limited aims to provide insurance for financially included individuals and become the preferred insurer in the Life Insurance Business.

We are recruiting to fill the position below:

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Job Title: Business Development Officer

Job ID: 58314
Location: Ibadan, Oyo
Job Sector: Insurance

Job Purpose

  • To grow and develop insurance income for Stanbic IBTC Insurance Limited and deliver profitable revenue streams from within and outside of the Stanbic IBTC Group.
  • Ensure effective cross sell of insurance products and services across all major product lines.
  • Execution of the regional sales strategy to achieve all revenue goals and targets through engagement with both external and internal stakeholders.
  • Expansion of the Stanbic IBTC Group business through identification of revenue opportunities and harnessing of this revenue streams.
  • Effective management and supervision of regional sales agents network.

Key Responsibilities/Accountabilities
Financial Outcome: Achieve monthly sales target of Insurance commission:

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  • Achieve assigned monthly Insurance commission target
  • Achieve assigned monthly/yearly insurance policy target
  • Achieve assigned new customer acquisition for both personal and business lines
  • Identify, initiate and convert leads for SIIL
  • Grow SIIL wallet share of customer’s insurance portfolio by harnessing and upselling insurance products.
  • Provide advice to corporate clients on managing and transferring risk using insurance solutions
  • Ensure timely engagement and follow up of customer’s insurance renewal of all Insurance portfolios or arrangements.
  • Maximize the insurance revenue opportunities in conjunction with the various business segments in Wealth and the Bank
  • Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company.
  • Make physical / telephone calls / e-mails to clients for customer interactions
  • Organize and facilitate Interactive sessions
  • Effectively communicate and follow through, with client requests to Underwriting, claims and support units
  • Ensure prompt provision of KYC documents to avoid delays in providing insurance cover to clients and refund of premiums received.
  • Consistently identify value to our customers by leveraging the various resources within the group
  • Proffer possible strategies/ways to improve sales and relating to customers.
  • Identify key insurance opportunities outside of the borrowing customers of Stanbic IBTC Bank and appropriately position SIIL to capture the business and revenue streams
  • Grow the SIIL business within the region through regular engagement with prospective clients within and outside of the Group
  • Support insurance sales in the network through awareness, training and a “helpdesk” function for relationship officers and sales consultants in the various business segments
  • Embark on key joint calls with other business units within the region where required
  • On-board, train and supervise sales agents to deliver on monthly premium targets

Preferred Qualification and Experience

  • First Degree in any relevant field
  • 5-7yrs Client Relationship Management
  • 5-7yrs Insurance sales Manager

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

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