Thursday 15 February 2024

Specialist; Life and Medical at NMB Bank Plc February 2024

  AjiraLeo Tanzania       Thursday 15 February 2024
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NMB Bank Plc
Jobs in Tanzania 2024: New Job Vacancies at NMB Bank Plc 2024


NMB Bank Plc Jobs 2024
Specialist; Life and Medical (1 Position(s))
Job Location:
Head Office
Job Purpose:
Responsible for the implementation of the Sales Strategy and providing insurance technical skills for Bancassurance business on life and medical and the overall performance of the bancassurance business at large.

Main Responsibilities:
  • Develop Insurance products and sales strategy of Life and medical insurance products.
  • Underwriting and assist claim management on all life and medical insurance products.
  • Develop products, process, and procedures for all the life and medical insurance products.
  • Maintain Life and medical insurance business portfolio to safeguard the interests of the customers and the bank.
  • Reconciliation of premium collection GLs to ensure all collected premiums are remitted as per SLA with the insurer.
  • Oversee the embedded life insurance product portfolio and ensure all products subjected to Insurance have a cover and working properly.
  • Ensure collection of commission from insurers are collected and timely posting to respective commission GLs.
  • Ensure relationships with customers, branch, and other stakeholders internally and externally are well managed.
  • Manage all risks related to Life and medical insurance product.
  • Prepare and coordinate capacity building to NMB Staff e.g. SP, RO, MCE, RM etc. regarding sales technical and product awareness through ongoing coaching and mentoring.
  • Ensure compliance on regulatory requirements are adhered with Bancassurance regulations both underwriting, claims management and customer protection Act.
  • Proactively identify on life and medical business opportunities available in the market and how to bring new business.
  • Co-ordinate training on Life and medical insurance products
  • Assist on preparing marketing and training materials for life and medical products.
  • Provide support to auditing activities and responding on the findings and ensure all findings are closed timely.
  • Ensuring business retention i.e., Timely renewal processing and follow up.
  • Provide support to the network on all Life and Medical Insurance issues.
  • Supporting claim management by following up with the insurers on all pending claims and ensure timely settlement.
  • Monitor performance of new products and provide progress reports.
  • Drive unit strategic plans to ensure the bancassurance budget is met.
  • Proactively identify sales prospects and conduct business development activities.
  • Identify and analyze customer preferences to properly direct sales efforts per product.
  • Responsible for underwriting and issuing of quotations when needed from the Bancassurance system and Insurer.
  • Provide technical support to the branches including issues related to the Bancassurance System.
  • Drive sales and promotional campaigns across the network in line with the Bank's policies and procedures.
  • Responsible for managing customer queries/complaints regarding Life and medical business for prompt solutions.
  • Ensure compliance to Bancassurance regulations across the network.
  • Prepare consolidated reports and share in daily, weekly, monthly, and quarterly basis.
Read Also:
Knowledge and Skills:
  • Comprehensive knowledge on Insurance
  • Knowledge on banks products
  • Good understanding of legislation related to bancassurance and bank as whole.
  • Greater understanding of product life cycle.
  • Strong analytical and numerical skills
  • Good interpersonal and networking skills
  • Good marketing skills

Qualifications and Experience:
  • Bachelor's degree in Insurance business, risk management or related fields.
  • A Master's Degree/Post graduate in risk management and insurance business or business fields will be an added advantage
  • Any certification course or training in risk management and insurance business is an added advantage.
  • A minimum of 3 years of working experience in insurance business with a reputable company.
  • Underwriting claims and sales experience on insurance products.
Job opening date : 14-Feb-2024
Job closing date : 28-Feb-2024

NMB Bank Plc is an Equal Opportunity Employer. We are committed to creating a diverse environment and achieving a gender balanced workforce.
Female candidates and people living with disabilities are strongly encouraged to apply for this position.

NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
Only shortlisted candidates will be contacted

Thanks for reading Specialist; Life and Medical at NMB Bank Plc February 2024

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