Summary
Date Posted: Tuesday, September 10 2024, Base Salary: Not Disclosed

JOB DETAILS:
ABOUT US:
Tanzania Commercial Bank is a Bank that provides competitive financial services to our customers and creates value for our stakeholders through innovative products with a vision “to be the leading bank in Tanzania in the provision of affordable, accessible and convenient financial services”. As part of organizational development and management of its human capital in an effective way, Tanzania Commercial Bank commits itself towards attaining, retaining and developing the highly capable and qualified workforce for Tanzania Commercial Bank betterment and the Nation at large.

Position: Principal Insurance Officer II (Senior Manager Insurance Premium Financing and Life Insurance Business )
Department: Retail and SME Banking
Section: Insurance
Reports to: Manager Insurance
Location: Head Office Dar- es –Salaam

POSITION OBJECTIVE
Provide a wide variety of excellent, which involves overseeing the premium financing and life insurance business within an organization by developing and implementing plans to optimize the sales and operations, including setting targets for loan and business volumes, revenue, and profitability. In addition, responsible for driving the strategic direction of the business, managing risks, fostering growth opportunities, and ensuring compliance with regulatory requirements while delivering excellent customer service.

KEY RESPONSIBILITIES
• Developing and implementing strategies to grow the premium financing and life insurance business, including expanding the client base, increasing loan volume, and maximizing revenue.
• Identifying new business opportunities, partnerships, and markets to drive growth and profitability for both insurance premium financing and life business.
• Closely monitor the competition, product offerings, market trends and threats in the area of operation and timely report and recommend suitable solutions and strategies to the senior management for consideration and necessary action.
• Conducting regular performance evaluations and providing feedback, coaching, and training as needed to ensure the team’s success.
• Maintain a high-quality IPF and life business portfolio which promotes the brand image of the bank
• Setting clear goals and expectations for team members and monitoring their performance.
• Identify and prospect potential life insurance clients by utilizing various lead generation methods, including cold calling, networking, and referrals.
• Build and maintain relationships with clients to understand their financial goals, analyses their insurance needs, and recommend suitable life insurance products.
• Conduct in-person or online sales presentations, including preparation of proposals and follow-ups.
• Negotiate the best price with the view to maximize potential income from Trade Finance deals. Ensure that a view of the big picture to determine prices for clients against the cost of the solution/product
• Educate clients on the features, benefits, and coverage options of different life insurance policies, ensuring they understand their policy terms and
• Conduct comprehensive needs analyses to determine the appropriate coverage amount and policy type for each client’s unique situation.
• Prepare and present customized life insurance proposals to clients, explaining coverage details, premiums, and payment options in a clear and concise manner.
• Provide exceptional post-sales service by addressing client inquiries, handling policy modifications, and assisting with policy renewals or
• Building and maintaining strong relationships with key clients, insurance carriers, financial institutions, and other stakeholders.
• Possess the nudge to deep dive into risk evaluation and analysis of the various IPF and Life products while mitigating any risks in a promptly manner
• Addressing client inquiries, concerns, and requests in a timely and professional manner to ensure high levels of customer satisfaction.
• Collaborate with life business underwriters to expedite the underwriting process, provide necessary information, and address any additional requirements or inquiries.
• To perform any other duties as assigned by supervisor.

QUALIFICATIONS, SKILLS & EXPERIENCE
• Holder of Bachelor Degree in Business Administration, Insurance and Risk Management Actuarial, Finance, Accounting, Banking, Economics, Commerce and Marketing or equivalent qualifications from recognized institutions with at least Seven (7) years of experience in related fields. (Master’s Degree is an added advantage.)
• Strong strategic thinking and analytical skills
• Excellent communication and interpersonal skills
• Deep understanding of banking and insurance regulations
• Experience in driving digital transformation initiatives

PERSONAL ATTRIBUTES AND BEHAVIOURAL COMPETENCIES
• Ability to demonstrate Tanzania Commercial Bank core values:
• Customer Focus, trustworthy, Creativity, Teamwork and Excellence
• Ability to work quickly, accurately and consistently Ø A methodical and well-organized approach to work.
• Mature and able to work in a confidential environment.
• Has sound judgment, common sense and good humor.

The position will attract competitive salary packages and benefits.

Work Hours: 8

Experience in Months: 84

Level of Education: Bachelor Degree

Job application procedure
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