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Relationship Manager - Bancassurance Channel - Life Insurance

1.00 to 6.00 Years   Rayagada   12 Oct, 2023
MITRAM MANPOWER SOLUTION PRIVATE LIMITED
Job LocationRayagada
EducationNot Mentioned
SalaryRs 50,000 - 3.0 Lakh/Yr
IndustryInsurance
Functional AreaSales / BD
EmploymentTypeFull-time

Job Description

    Job description
    • This role combines banking and insurance expertise to offer insurance products and services to bank customers
    • Insurance Officers working in Bancassurance are responsible for selling insurance policies, assisting clients with claims, and ensuring compliance with regulations
    • They work collaboratively with the banks staff to provide customers with comprehensive financial solutions
    Key Responsibilities:
    • Customer Engagement: Develop strong relationships with bank customers and identify their insurance needs through consultations and needs assessments
    • Product Knowledge: Have an in-depth understanding of various insurance products and policies, and effectively communicate their features, benefits, and terms to customers
    • Sales and Cross-Selling: Actively promote and sell insurance products to bank customers, utilizing cross-selling opportunities to increase insurance policy penetration
    • Consultative Selling: Use a consultative approach to tailor insurance solutions to individual customer requirements, taking into account their financial situation and risk tolerance
    • Quoting and Proposal: Prepare insurance quotes and proposals, explaining coverage options, premiums, and policy terms clearly to clients
    • Documentation and Compliance: Ensure all documentation related to insurance transactions is accurately completed and compliant with regulatory requirements
    • Customer Support: Provide ongoing support to customers, assisting with policy servicing, claims processing, and any inquiries or concerns
    • Claims Handling: Guide customers through the insurance claims process, acting as an intermediary between the customer and the insurance company
    • Relationship Management: Collaborate with bank staff, including relationship managers and financial advisors, to identify potential insurance opportunities and provide training on insurance products
    • Market Research: Stay informed about industry trends, competitor products, and regulatory changes to remain competitive and compliant
    • Targets and Goals: Meet or exceed sales targets, revenue goals, and performance metrics set by the bank and insurance partners
    Qualifications:
    • Bachelors degree in finance, business, or a related field; relevant insurance certifications or licenses are advantageous
    • Proven experience in bancassurance, insurance sales, or financial advisory roles
    • Strong interpersonal and communication skills to build rapport with clients
    • Knowledge of insurance products, underwriting processes, and industry regulations
    • Sales and customer service orientation with a goal-driven mindset
    • Familiarity with banking and financial products is a plus
    • Ability to explain complex insurance concepts in a clear and understandable manner
    • Attention to detail and strong organizational skills
    • Compliance-oriented and well-versed in insurance regulations and best practices
    • Proficiency in relevant software and customer relationship management (CRM) tools
    • Ethical conduct and a commitment to providing clients with suitable insurance solutions
    if interested share c v hidden_email

Keyskills :
agency salesbancafinancial serviceslife insurancebanking salesloan salescasa salesmutual funds sales

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