| Detail | For this role |
|---|---|
| Department | Insurance |
| Level | Mid level |
| Reports to | Bancassurance Manager |
| Direct reports | None |
| Experience | 2 to 5 years in insurance or banking sales |
Bancassurance Relationship 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 Relationship Manager
Department: Insurance
Reports to: Bancassurance Manager
Location: [City], [office, branch or site]
About the role
A Bancassurance Relationship Manager sits at partner bank branches and sells insurance to the bank customers, supporting the branch staff to refer and close. The role reports to the Bancassurance Manager. A good bancassurance relationship manager builds trust with the branch team so leads flow, converts those leads into suitable policies, keeps the branch active month after month, maintains persistency, and becomes the insurance person the bank staff and customers turn to, all without straining the bank partnership.
Key responsibilities
- Sell insurance to bank customers at the assigned partner branches.
- Build trust with branch staff so they refer suitable leads regularly.
- Meet referred customers, understand needs and recommend suitable cover.
- Convert bank leads into policies and complete the paperwork correctly.
- Support branch staff with product knowledge and joint customer meetings.
- Keep the branch active in insurance sales through the month.
- Follow up renewals and persistency on bank sold policies.
- Handle customer queries and service needs at the branch.
- Sell suitably and follow bank and insurer conduct rules.
- Report leads, conversion and premium to the bancassurance manager.
Requirements
- Graduate in any stream
- Experience in insurance or bank channel sales
- Insurance certification such as III is an advantage
- 2 to 5 years in insurance or banking sales
KRAs and KPIs for a Bancassurance Relationship 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 |
|---|---|
| Branch premium | Premium from the assigned branches meets the monthly target |
| Lead conversion | Bank lead to policy conversion above the agreed level |
| Branch activation | Assigned branches selling each month above the agreed level |
| Staff engagement | Bank staff referring leads above the agreed level |
| Persistency | Persistency of bank sold policies above the agreed benchmark |
| Conduct | Mis selling and conduct complaints kept near zero |
Skills and tools
Tools used day to day: CRM and lead systems, Bank partner portals, Mobile sales app, Premium illustration tools, MS Excel.
Reporting line and career path
Next roles: Bancassurance Manager, Branch Manager (Insurance), Cluster Head
Interview questions for a Bancassurance Relationship Manager
- How do you win the trust of branch staff so they refer you leads?
- How do you sell suitably to a bank customer who came in for something else?
- How do you keep a branch active in insurance all month?
- How do you convert a referred lead into a policy?
- How do you handle persistency on the policies you sell?
- How do you keep conduct clean under pressure to hit target?
Managing a Bancassurance Relationship 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 Relationship Manager do?
A Bancassurance Relationship Manager sits at partner bank branches and sells insurance to bank customers. They build trust with branch staff so leads flow, meet referred customers, recommend suitable cover and convert leads into policies. They keep the branch active, maintain persistency and serve customers at the branch.
What is the difference between a Bancassurance RM and an Insurance Sales Executive?
A Bancassurance Relationship Manager works inside partner bank branches, selling to the bank customer base through staff referrals. An Insurance Sales Executive sells more broadly through the insurer own channels and self sourced leads. The bancassurance role depends on the bank relationship for its leads.
What skills does a Bancassurance Relationship Manager need?
The role needs insurance selling and need based advice, plus the relationship skills to win branch staff over so they refer leads. Add product knowledge, lead conversion, persistency follow up and firm conduct, since the role must sell suitably without straining the bank partnership.