| Detail | For this role |
|---|---|
| Department | Insurance |
| Level | Manager |
| Reports to | Head of Agency |
| Direct reports | Bancassurance Relationship Manager, Bancassurance Executive |
| Experience | 4 to 8 years in bancassurance or banking sales |
Bancassurance Manager job description template
Copy this job description, replace the text in square brackets and post it on your careers page or a job portal.
Job title: Bancassurance Manager
Department: Insurance
Reports to: Head of Agency
Location: [City], [office, branch or site]
About the role
A Bancassurance Manager drives insurance sales through a partner bank, owning the premium from a set of bank branches. They activate branches, support bank staff to refer and sell, and place relationship managers where the leads are richest. The role reports to the Bancassurance Head. A good bancassurance manager keeps branches active and referring, converts bank leads into premium, builds strong relationships with branch heads, keeps persistency sound, and makes the bank channel a steady source of new business without straining the partnership.
Key responsibilities
- Own the insurance premium from the assigned set of partner bank branches.
- Activate bank branches so they refer and sell insurance regularly.
- Support and train bank staff to spot and refer suitable customers.
- Place relationship managers at branches where the lead flow is richest.
- Convert bank leads into policies through the relationship managers.
- Build strong working relationships with branch heads and cluster heads.
- Keep persistency sound so bank sold policies stay in force.
- Track branch level activation, leads and conversion and act on gaps.
- Ensure suitable selling and compliance with bank and insurer rules.
- Report channel premium, activation and persistency to the bancassurance head.
Requirements
- Graduate in any stream, an MBA is an advantage
- Experience in bancassurance or bank channel sales
- Insurance certification such as III is an advantage
- 4 to 8 years in bancassurance or banking sales
KRAs and KPIs for a Bancassurance Manager
Key result areas for the appraisal form, each with a KPI you can measure every month or quarter.
| Key result area | How to measure it |
|---|---|
| Channel premium | Premium from the assigned bank branches meets the monthly target |
| Branch activation | Branches selling insurance each month above the agreed level |
| Lead conversion | Bank lead to policy conversion above the agreed level |
| Staff engagement | Bank staff referring leads above the agreed level |
| Persistency | Persistency of bank sold policies above the agreed benchmark |
| Compliance | Mis selling and conduct complaints kept below the agreed level |
Skills and tools
Tools used day to day: CRM and lead systems, Bank partner portals, Mobile sales app, MS Excel, Illustration tools.
Reporting line and career path
Next roles: Bancassurance Head, Regional Channel Head, Head of Agency
Interview questions for a Bancassurance Manager
- How do you activate a bank branch that does not refer insurance leads?
- How do you build a working relationship with a busy branch head?
- How do you convert bank walk in leads into policies?
- How do you keep bank staff engaged in referring customers?
- How do you keep persistency sound in the bank channel?
- How do you handle pressure to sell without checking suitability?
Managing a Bancassurance Manager in ZeniaHR
Hire and manage your insurance team in one place
Post the role, onboard the new hire, and track attendance, leave and KRAs in ZeniaHR. Free for your first 50 employees.
Book a free demoSee pricingFrequently asked questions
What does a Bancassurance Manager do?
A Bancassurance Manager drives insurance sales through a partner bank and owns the premium from a set of bank branches. They activate branches, train and support bank staff to refer customers, place relationship managers where leads are richest, and convert those leads into policies while keeping persistency and conduct sound.
What is bancassurance in insurance?
Bancassurance is the sale of insurance through a bank partnership, where the bank refers or sells the insurer products to its customers. It gives the insurer access to the bank customer base and gives the bank fee income. Managers activate branches and convert bank leads into insurance premium.
What is the difference between a Bancassurance Manager and Relationship Manager?
A Bancassurance Relationship Manager sits at bank branches and sells to bank customers directly. A Bancassurance Manager owns a set of branches, activates them, supports bank staff and manages the relationship managers. The relationship manager sells; the manager runs the channel and the bank partnership.