Bancassurance Relationship Manager

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company is a leading public joint-stock entity established in the Kingdom of Saudi Arabia, authorized by a Council of Ministers decision and a royal decree. With a robust paid-up capital of 500 million Saudi Riyals, the company operates as an extension of United Insurance Company, which was originally founded in the Kingdom of Bahrain in 1983 as a foreign entity licensed to conduct insurance operations in Saudi Arabia. Following its listing on the Saudi Stock Exchange (Tadawul) in 2008 under the symbol 8170, the company has grown into a key player in the insurance sector, offering a comprehensive portfolio of insurance solutions, including general insurance, medical insurance, motor insurance, and protection & savings insurance. Regulated by the Saudi Insurance Authority, Al Etihad Cooperative Insurance Company is committed to delivering exceptional service through an extensive network of offices and regional outlets across the Kingdom, supported by a dedicated team focused on exceeding customer expectations.

Position Overview

We are seeking a dynamic and results-driven Bancassurance Relationship Manager to join our team and play a pivotal role in strengthening our partnerships with leading banking institutions across Saudi Arabia. In this strategic role, you will act as the primary liaison between Al Etihad Cooperative Insurance Company and our banking partners, driving the growth of our bancassurance business through effective relationship management, sales execution, and collaborative initiatives. Your expertise in bancassurance operations, combined with your ability to build and nurture long-term partnerships, will be instrumental in expanding our market presence and achieving our business objectives.

Key Responsibilities

• Strategic Partnership Development: Build and maintain strong, mutually beneficial relationships with banking partners to foster bancassurance business growth, ensuring alignment with corporate objectives and market opportunities.
• Sales and Channel Coordination: Collaborate closely with bank stakeholders, branch teams, and internal departments to promote insurance products, execute sales strategies, and enhance product penetration within banking channels.
• Performance Monitoring and Reporting: Track and analyze sales performance, portfolio growth, and business pipeline across assigned banking channels, providing actionable insights and regular updates to management.
• Training and Engagement: Conduct product presentations, engagement sessions, and training programs for bank teams to ensure a deep understanding of insurance products and their benefits, driving customer adoption and satisfaction.
• Cross-Selling and Opportunity Identification: Proactively identify and capitalize on opportunities for cross-selling insurance products, increasing market penetration and revenue generation within banking partnerships.
• Policy and Service Excellence: Ensure seamless policy issuance, after-sales service delivery, and compliance with company policies, banking agreements, and regulatory requirements to maintain high standards of service quality.
• Stakeholder Communication: Facilitate effective communication between Al Etihad Cooperative Insurance Company and banking partners to address concerns, resolve issues, and enhance overall client satisfaction and partnership value.
• Business Reporting and Documentation: Prepare comprehensive business performance reports, partnership updates, and strategic recommendations for senior management, supporting data-driven decision-making.

Qualifications and Requirements

• Experience: Minimum of 2 years of relevant experience in bancassurance, insurance, or brokerage, with a proven track record in relationship management and sales.
• Education: Bachelor’s degree in Insurance, Business Administration, Finance, Marketing, or a related field from an accredited institution.
• Knowledge and Skills:
  • In-depth understanding of bancassurance operations, partnership management, and sales processes.
  • Comprehensive knowledge of insurance products, customer relationship management (CRM) practices, and market dynamics.
  • Strong communication, presentation, and interpersonal skills to engage effectively with stakeholders at all levels.
  • Proficiency in Microsoft Office applications, including Excel, PowerPoint, and Word, as well as business reporting tools.
• Language Proficiency: Fluency in both Arabic and English, with excellent verbal and written communication skills.
• Personal Attributes: Self-motivated, results-oriented, and capable of managing multiple priorities in a fast-paced environment. Demonstrated ability to build trust, negotiate effectively, and drive collaborative outcomes.

Why Join Us?

As a valued member of Al Etihad Cooperative Insurance Company, you will have the opportunity to contribute to the growth of a leading insurance provider in Saudi Arabia while developing your career in a dynamic and supportive environment. You will work alongside industry professionals, gain exposure to diverse insurance products, and play a key role in shaping the future of bancassurance in the Kingdom. We offer competitive compensation, professional development opportunities, and a platform to make a meaningful impact in the insurance sector.