Mashreq

Insurance Specialist.BCA Insurance

Mashreq  •  48k/yr  •  United Arab Emirates (Onsite)  •  2 hours ago
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Job Description

1

Job Title

Insurance Specialist

Department

RBG- Business Banking

Direct Supervisor

Area Sales Manager

Grade - I

2

Job Purpose

  • Manage end to end I&I sales for Business Banking and to provide Mashreq Bank customer’s financial services which exceed the customer’s expectations by delivering an unbiased, competent, timely and seamless service.

3

Dimensions

Operating Budget

Number of Staff

Capital Exp. Budget

Others

Revenues

Monthly/Quarterly FER

Roll up revenue of Mapped BDOs/RMs

4Key Result Areas
  • Looks for opportunities and harvests all referrals for Insurance sales for BB Team- RMs. Presenting opportunities and value of Investment and Insurance products to BB Clients. Profile each customer met to understand their needs.
  • Promote the Investment / Insurance business and generate FER through the BB portfolio by cross selling wealth products.
  • Educate and present I&I ideas, opportunities, need analysis to the BB Team to generate referrals.
  • Supports primary point of fulfillment of customer cross sell for all Insurance Products in Business Banking. Responsible for end to end sale / service for Insurance sales to BB.
  • Up selling, cross-selling, providing regular market information updates and trend analysis to clients. Ensure superior customer service thereby contributing to the overall customer experience.

  • Take ownership of customer complaint on Insurance. Co-ordinate with respective investment and insurance teams for resolution.

    Be a team player and contribute to achievement of goals based on the Key Performance Indicators.

    Provide constructive and constant feedback on improvement of I&I products, services, processes which may either reduce cycle time or costs or enhance customer satisfaction.

    Minimizing Insurance attrition

5Operating Environment, Framework and Boundaries, Working Relationships
  • Work with I&I Proposition Team to understand products, markets, opportunities.

  • Will directly interact with I&I department and their back office along with the following teams Investment Proposition Team: CCAM, DBC, RCO, TCM, TOC, Legal and Compliance

6

Problem Solving

  • Well versed with CPRA (Client Profiling and Risk Analysis) to better understand a client, their profile, their need and their risk.
  • Specialized product knowledge of all investment & insurance products at Mashreq
  • Ability to work with BB teams to get referrals for Investment/Insurance needs
  • Will have to achieve set FER (revenue) targets and other cross sell products.
  • Knowledge of global economic scenarios and situation of various investment vehicles and financial markets. Does regular competitive analysis to understand what is offered in the market and to constantly provide feedback on competition and customer response to processes, products and services
7

Decision Making Authority & Responsibility

  • Responsible for generating all Insurance FER from Business Banking channel
  • Handle end to end sale/service for all Insurance products for Business Banking
  • Work closely with both businesses and the Insurance teams to increase wealth product penetration.
8

Knowledge, Skills and Experience

  • Good communication, profiling, presentation and analytical skills. Strong interpersonal skills, team player with ability to coach / train others.
  • Knowledge of global economic scenarios and situation of various investment vehicles and financial markets.
  • A Graduate, with at least 6-8 years of experience in Insurance Sales, preferably in the UAE. Will need to pass CII, Shariah Certifications and Bancassurance product internal Certifications

9

Behavioral Competencies

COMPETENCY

LEVEL (1-4)

(1- Basic 4-SR MANAGERIAL

Committed to Result

3

Communication Skills

3

Influencing & Negotiation Skills

3

Customer Focus

3

Analytical Thinking

3

Job Holder

Date

Line Manager

Date

Approved By

Date

  • Achieve monthly Insurance FER (personal banking) & individual target
  • Proactively work towards satisfying the needs of the customer through REAC.
  • Acquire, develop and strengthen Insurance acquisition through effective relationship
  • management in accordance with business goals
  • Contribute to Front-line of Branch staff through accomplishment of Insurance FER targets
  • by training and skilling SSOs to confidently promote OTC Insurance products
  • Manage and develop relationships with new and existing Personal Banking customers
  • through professional consultative financial analysis
  • Active sourcing and prospecting of Personal Banking customers for Wealth Insurance
  • products
  • Up selling, cross-selling, providing regular market information updates and trend analysis
  • Ensure superior customer service thereby contributing to the overall customer experience
  • of Mashreq
  • Profile each and every customer met to understand their needs.
  • Customer retention is also the SSOs responsibility.
  • Improve on service levels at the branches.
  • Take ownership of customer complaint on Insurance. C0-ordinate with respective teams and Insurance providers for resolution
  • Be a team player and contribute to achievement of goals based on the Key Performance Indicators, in the Branch. Also to support and coach new staff to make easier their assimilation in the MB family.
  • Provide constructive and constant feedback on improvement of : Insurance products, services, processes which may either reduce cycle time or costs or enhance customer satisfaction.
  • Minimizing Insurance attrition.
  • Customer acquisition through sales to walk-ins and through tracking the activities viz. Contacts to Appointments kept and Appointment kept to Sales.
  • Increasing share of wallets of high risk customers to prevent an easy exit.
  • Meeting with the set service standards (indicators and surveys).
  • Ownership of customer complaints.
  • Reduction of PIR
  • Contribute towards acceptable audit rating for the Branch.
  • Thorough knowledge of products, services policies and processes of retail banking in MashreqBank.
  • The job holder will have to possess the following skills:
  • Problem Solving skills.
  • Communication skills.
  • Interpersonal skills.
  • Ability to work under pressure.
  • Computer literacy.
  • The job holder should be a University Graduate with 2-3 years banking experience or experience in any other service industry.
Mashreq

About Mashreq

Disclaimer: Mashreq will never ask for your bank related information via phone call, SMS or email. We will also never contact you from a mobile number to resolve your query.

Welcome to the LinkedIn page of Mashreq. More than half a century old, we proudly think like a challenger, startup, and innovator in banking and finance, powered by a diverse and dynamic team who put customers first. Together, we pioneer key innovations and developments in banking and financial services. Our mandate? To help customers find their way to Rise Every Day, partnering with them through the highs and lows to help them reach their goals and unlock their unique vision of success. Join Mashreq and find your way to Rise Every Day.

Industry
Finance & Insurance
Company Size
5,001-10,000 employees
Headquarters
Dubai, AE
Year Founded
1967
Website
mashreq.com
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