UNITED OVERSEAS INSURANCE LIMITED | Bancassurance Manager

4 weeks ago


Singapore UNITED OVERSEAS INSURANCE LIMITED Full time

About the Division/Dept
The Retail Distribution Division is responsible for the growth of the consumer business across multiple channels including Bancassurance, Intermediaries, Direct, and Partnerships. It is also responsible for delivering service excellence for all UOI customers and increasing market awareness of UOI to achieve consumer trust and recognition.
Job Purpose
As a Manager for Banca channels, you will be responsible for driving revenue growth through the retail and commercial Banca channels. This will include manging relationships with key stakeholders and driving strategic initiatives while providing exceptional service to support revenue growth and to achieve customer satisfaction.
Main responsibilities
Be the point of contact for all Banca stakeholders, and drive initiatives across key banking segments.
Manage the UOB x UOI Project Steering Committee across wholesale and retail banking in Singapore.
Identify, establish, and nurture partnerships with key stakeholders to promote the sale of insurance products.
Increase UOI visibility within UOB segments, attend segment events and ensure UOI remains top of mind for referrals and general insurance intiatives.
Project manage new initiatives across the bank including bundling and embedding opportunities, product enhancements, new go-to market launches and more.
Create and drive campaigns to encourage the sale of insurance products and identify opportunities for cross-selling, upselling and embedding insurance products to various channels including digital initiatives.
Establish regular meetings with key stakeholders to review sales performance, servicing, and develop a regular feedback cycle for opportunity development and service improvements.
Develop sales strategies to achieve company budgets and collaborate with partners to identify potential customers and generate leads for insurance products.
Conduct regular training sessions for bank employees to enhance their knowledge of general insurance products and improve cross-selling effectiveness.
Develop business cases for additional or new products to launch through the Banca channels, including sales and profit potential.
Achieve and exceed sales targets by actively creating opportunities to promote and sell insurance products through the bank's channels, continuously identifying new opportunities across existing and new channels.
Track and monitor performance against budget, creating mitigating actions to achieve budget where necessary.
Prepare and present reports on sales performance, market analysis, and other relevant metrics to partners and the senior management team.
Analyse market trends, competitor activities, and customer feedback to identify opportunities for business growth.
Mentor junior staff and ensure that staff work cohesively as a team.
Provide excellent service by addressing enquiries, resolving issues, and ensuring customer and partner satisfaction.
Stay updated on industry regulations, product knowledge, and market developments to ensure compliance and competitiveness.
Collaborate with the marketing team to develop promotional materials and campaigns to boost bancassurance sales.
Undertake any other assignments as allocated by the Division Head, PMO and the CEO to contribute to the overall corporate objectives.
Requirements
Bachelor’s degree in business, Finance, Marketing, or a related field.
Proven experience in bancassurance or insurance sales, with a focus on general insurance products.
Excellent interpersonal and communication skills to build and maintain relationships with bank partners and customers.
Strong sales and negotiation abilities, with a track record of meeting or exceeding targets.
Sound understanding of the insurance industry, including regulations and market dynamics.
Ability to conduct effective training sessions for bank employees on insurance products.
Detail-oriented with strong organizational and analytical skills.
Self-motivated and able to work independently as well as collaboratively within a team.
Proficient in using Microsoft Office Suite and CRM software.
Strong problem-solving, communication and negotiation skills.
Ability to put customers at the core of the business
Knowledge of Mandarin is preferred so as to service mandarin-speaking clients.
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