Senior Manager - Bancassurance - UPID

Szabist Isb; Karachi Division; On-site; PKR 3,000,000 - 5,400,000; Full time

Benefits offered by this job

Performance bonus

Medical insurance

Professional development opportunities

Job summary

EFU Life Assurance Ltd. in Karachi seeks an experienced Senior Manager - Bancassurance to lead and grow the bancassurance channel, developing strategies that expand market share and profitability.

The role emphasizes insurance product design, underwriting, and regulatory compliance in a fast-paced environment. You will manage a team of 20, build strong channel partnerships, forecast effectively, and ensure compliant operations while driving growth and customer value.

Qualifications

• Minimum 8 years of experience in insurance and bancassurance sales.
• Proven track record in leading high-performance sales teams and achieving growth targets.
• Strong understanding of regulatory requirements and product development processes.

Responsibilities

• Develop and execute bancassurance sales plans to grow market share.
• Lead a team of 20 bancassurance professionals and foster high performance.
• Build and maintain relationships with channel partners and stakeholders.
• Conduct market analysis to identify opportunities and threats.
• Use CRM to monitor sales activities and manage client portfolios.
• Collaborate with underwriting, product, and compliance teams.
• Analyze data to optimize forecasting, budgeting, and resource allocation.
• Ensure policy administration accuracy and regulatory compliance.
• Drive client retention and loyalty initiatives.
• Lead product launches, campaigns, and marketing initiatives.
• Report progress to senior management and adjust strategies as needed.

Skills

Leadership

Strategic planning

Stakeholder management

Data-driven decision making

Education

Bachelor's degree in Business/Finance

MBA preferred

Tools

CRM software

Forecasting tools

Job description

EFU Life Assurance Ltd. is seeking an experienced Senior Manager - Bancassurance to lead and enhance the bancassurance business channel. This position requires a highly skilled professional with at least eight years of specialized experience in insurance and bancassurance sales. The Senior Manager will be responsible for strategically developing and executing comprehensive sales plans focused on achieving growth targets and expanding the company’s market share. This role involves leading a team of 20 professionals, fostering a collaborative and high-performance culture while ensuring alignment with company objectives and regulatory standards.The Senior Manager plays a pivotal role in cultivating strong partnerships with channel stakeholders, managing operational workflows, and utilizing data analysis to optimize sales forecasting and marketing strategies. The role demands deep expertise in insurance product design, underwriting, regulatory compliance, and financial analysis. This leader will drive business growth, customer satisfaction, and retention initiatives by serving as a key connector between internal teams, external partners, and clients. Continuous market analysis and proactive decision-making are essential to anticipate trends and risks while maintaining effective communication and project management practices.

Responsibilities

• Develop and implement comprehensive strategic sales plans to achieve bancassurance growth objectives and increase market share.
• Lead, mentor, and manage a team of 20 bancassurance professionals, fostering a culture of collaboration, continuous improvement, and high performance.
• Establish and maintain strong, effective relationships with channel partners to ensure clear communication, mutual goals, and alignment with sales targets.
• Conduct thorough market analysis to identify new business opportunities, monitor industry trends, and assess competitive threats within the bancassurance sector.
• Use customer relationship management tools to monitor sales activities, manage client portfolios, and improve customer retention and satisfaction.
• Collaborate with underwriting, product development, and compliance teams to ensure insurance products are competitive, meet client needs, and adhere to regulatory requirements.
• Analyze sales data and review operational workflows to identify opportunities for process improvements, enhancing channel efficiency and effectiveness.
• Oversee policy administration system accuracy and compliance to ensure smooth, compliant policy issuance and servicing.
• Manage and optimize sales forecasting, budgeting, and resource allocation to align initiatives with overall corporate goals and financial targets.
• Engage with a diverse range of stakeholders, including internal departments, external partners, and clients, to drive integrated bancassurance strategies and initiatives.
• Lead project management efforts for new bancassurance product launches, sales campaigns, and marketing initiatives to support business growth objectives.
• Develop and execute client retention strategies aimed at minimizing churn and maximizing long-term customer value and loyalty.
• Stay updated on regulatory changes, industry best practices, and market developments to maintain compliance and competitive advantage.
• Communicate regularly with team members, channel partners, and senior management to report on performance metrics, challenge resolution, and progress toward strategic goals.
• Coordinate cross-functional teams to improve operational efficiency and enhance the overall customer experience within the bancassurance channel.