Job Purpose.
To drive the growth and profitability of the Bancassurance business within the corporate segment by developing and managing customized insurance solutions that meet clients’ risk and coverage needs. The role is responsible for enhancing fee-based income, deepening relationships with corporate clients and insurance partners, and ensuring full compliance with regulatory and internal policies.
Key Responsibilities.
1. Business Development & Revenue Growth
- Identify, prospect, and secure new corporate insurance business opportunities.
- Cross-sell insurance products to existing corporate customers in collaboration with Relationship Managers.
- Develop tailored insurance solutions aligned to client risk profiles.
- Achieve agreed annual targets on insurance premium generation and non-fund (fee) income.
- Monitor renewals to ensure 100% retention of existing clients and timely placement of covers.
2. Relationship Management
- Maintain strong relationships with key corporate clients, insurance companies, and intermediaries.
- Conduct client reviews to assess insurance needs and service satisfaction.
- Serve as the primary point of contact for corporate clients on all insurance matters.
3. Product Development & Customization
- Work with insurance partners to design and tailor products suitable for corporate clients (e.g., property, marine, liability, group life).
- Provide feedback to management on product performance and market trends.
4. Operations & Compliance
- Ensure all insurance placements and renewals comply with regulatory guidelines and internal policies.
- Facilitate timely issuance of policy documents, premium collection, and claims settlement.
- Liaise with internal auditors, compliance, and regulators during reviews or inspections.
5. Reporting & Coordination
- Prepare and share accurate and timely performance reports including sales, pipeline tracking, renewal schedules, and revenue updates.
- Maintain an updated database of corporate insurance business.
- Collaborate with internal teams to ensure smooth execution of bancassurance transactions.
- Participate in training and development initiatives.
Key Performance Indicators (KPIs)
- Achievement of annual premium and fee income targets.
- Maintain a minimum 90% renewal/retention ratio on existing business.
- Zero regulatory or compliance breaches.
- Maintain turnaround time (TAT) on client requests within service standards.
- Achieve 90%+ client satisfaction rating from feedback surveys.
Qualifications and Experience
Academic / Professional Qualifications
- Bachelor’s degree in insurance, Risk Management, Business, or related field.
- Professional qualifications in insurance is a MUST.
Experience
- Minimum of 5 years’ experience in the insurance or banking industry, with at least 2 years in a corporate or bancassurance role.
Skills, Knowledge & Abilities
- In-depth understanding of corporate insurance products and risk solutions.
- Strong relationship management and negotiation skills.
- Excellent communication and presentation abilities.
- Good analytical, financial, and reporting skills.
- Knowledge of regulatory requirements in bancassurance.
- High level of integrity and client service orientation.
ONLY SHORTLISTED CANDIDATES WILL BE CONTACTED
Top Skills
What We Do
I&M Bank is a wholly owned subsidiary of I&M Group PLC, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services, over 50 branches in Kenya and international operations in 3 other countries.
I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers.
CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Group. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions - Proparco, DEG and FMO.
I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY.
I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited, I&M Bank Rwanda and I&M Bank Uganda
