The Bancassurance Advisor is responsible for driving insurance sales within the bank by providing tailored insurance solutions to customers. The role focuses on understanding customer financial needs, recommending suitable insurance products, and supporting customers throughout the policy lifecycle while ensuring regulatory compliance.
Key Responsibilities
Customer Engagement and Relationship Management
- Engage customers to understand their financial objectives and insurance protection needs.
- Build and maintain long-term relationships with existing and prospective banking clients.
- Provide personalized insurance solutions to enhance customers overall financial security.
Insurance Advisory and Product Expertise
- Maintain up-to-date knowledge of insurance products, policy features, and regulatory changes.
- Explain policy coverage, benefits, exclusions, and terms clearly to customers.
- Recommend appropriate insurance solutions aligned with customer profiles and risk needs.
Sales Performance and Business Growth
- Achieve assigned insurance sales targets and contribute to overall bancassurance revenue.
- Identify and maximize insurance sales opportunities within the bank's customer base.
- Support initiatives to expand insurance penetration through structured sales activities.
Cross-Selling and Integration
- Identify opportunities to offer insurance products alongside banking solutions.
- Work with internal bank teams to integrate insurance offerings into customer interactions.
- Support workplace and branch-based insurance sales activities where applicable.
Compliance and Governance
- Ensure all insurance sales activities comply with regulatory requirements and internal policies.
- Maintain accurate documentation for sales, customer disclosures, and advisory records.
- Adhere to CMFAS guidelines and licensing requirements at all times.
Customer Support and After-Sales Service
- Address customer queries related to policy terms, claims, renewals, and servicing matters.
- Provide ongoing support throughout the policy lifecycle to enhance customer satisfaction.
Training and Capability Development
- Conduct product training for bank staff to enhance insurance knowledge and sales effectiveness.
- Participate in continuous learning to strengthen insurance advisory and sales capabilities.
Qualifications and Requirements
Education and Certification
- Bachelor's degree in Finance, Business Administration, or a related discipline.
- CMFAS certifications including HI, M5, M9, and M9A, as required by local regulations.
Experience
- Prior experience in insurance sales, financial services, or customer advisory roles is preferred.
- Strong understanding of financial products and insurance markets.
