Creditstar Microinsurance Company Limited is registered in the Federal Republic of Nigeria as a private Limited Liability Company and as a composite Micro insurance company. Our resources and local relationships with our stakeholders create world-class results for low-income earners, especially those who cannot get conventional Insurance. As one of the foremost MicroInsurance companies. CreditStar Insurance offers non-life and life insurance, investment and risk management solutions. With a presence in Nigeria, we are uniquely positioned to meet quality, simple and accessible Insurance products. We are recruiting to fill the position below:
Job Title: Senior Marketing Manager, Microinsurance & Insurance Brokerage Solutions
Scope of Work:
The primary duties of the Senior Marketing Manager will include:
- Work with Sales & Marketing partners to create solution messaging and positioning for the Insurance market.
- Continually evaluate and evolve differentiated messaging to align with market shifts and devise innovative ways to equip sales & marketing teams.
- Assess sales training requirements for new and existing offerings, partner with sales enablement to define appropriate curriculum, and secure necessary stakeholder support to implement effectively.
- Develop buyer personas and solution content for new and existing offerings.
- Partner with Demand Generation to review metrics and recommend ways to improve.
- Design targeted industry messages and content strategy for sponsored events and serve as Company evangelist.
- Build strong relationships across the company’s functional and regional teams to drive awareness.
- Build and maintain relationships with segment leadership, to understand growth objectives, business priorities, market trends, and broker/clients. Become the segment’s go-to marketing communications expert.
- Create and build business buy-in for a clear and differentiated regional segment proposition with supporting messaging and tools, working with underwriting and sales teams to help them articulate customer benefits in an impactful way.
- Develop, deliver and win buy-in for a marketing and communications plan that aligns with business plans and growth priorities, and fits with the company’s global brand guidelines and regional marketing communications strategy.
- Develop, implement and manage effective and measurable product marketing plans at a regional and country level for key propositions and products, including product launch support; sales and marketing literature; digital and content marketing; and thought leadership and media content.
- Collaborate with the wider network of regional marketing and communications functional experts, including in events, PR, digital marketing, brand, research and insight, broker marketing, internal communications and country experts. Provide them with the guidance, information and support they need to help you successfully deploy your campaigns and activities.
Job Description / Role:
- Carry out periodic ‘Marketing Intelligence’ activities with a view to staying abreast with competitive developments within the region and world.
- Keep abreast of local developments and up-date strategic country profile, identify and help develop a pipeline of partnerships with local aggregators.
- Build and manage relationships with stakeholders such as representatives from the regulators (e.g., NAICOM and CIIN), financial industry associations, banks, MFIs, and insurers.
- Build understanding of the financial services and fintech environment, key players and regulations, organizations serving low-income women, and general characteristics of low-income customer segments.
- Develop, establish and implement underwriting, claims and reinsurance strategies, guidelines and procedures to achieve maximum long-term profit and growth.
- Meet monthly sales target in all areas
- Prepare reports to management on the success of your business endeavours and call plans on a weekly/monthly/quarterly basis
- Design and implement effective marketing strategies to sell new insurance contracts or adjust existing ones
- Contact potential clients and create rapport by networking, cold calling, using referrals etc
- Up-sell to current clients
- Act as a part of the executive leadership team that drives the success of the company.
- Contribute to the strategic direction of the company’s general insurance plans.
- Mentor team of experienced underwriters, claim handlers and reinsurance staff.
- Monitor the underwriting, claims and reinsurance performance of all of the company’s portfolios.
- Take all necessary corrective actions to maintain the long-term viability of the portfolios.
- Work in collaboration with all other directors to ensure actions taken are viable for other units in the business (i.e., sales, marketing, operations, claims, etc.).
- Ensure that the company meets its legal and regulatory responsibilities in the underwriting, claims handling and reinsurance activities.
- Assume a wide range of additional responsibilities to support the effective running of the company. This will include strategy and business development activities and will also play a significant role in new policy developments.
- Perform microinsurance negotiations and ordinate insurance programs.
- Develop, establish, implement and manage a comprehensive risk management service, risk analysis, claims management administration, loss control and safety program.
- Develop a customer-focused culture to drive the new product offerings through the growth stages of the company.
Key Performance Indicators:
- At least three Microinsurance products (life or non-life) developed and tested through piloting;
- The development of Microinsurance products and sustainable distribution channels;
- Consumer education programs focused on Microinsurance,
- A robust Microinsurance monitoring and reporting framework developed within CreditStar
Duration and Nature of Assignment:
- The appointment of the Senior Marketing Manager, Microinsurance and Insurance Brokerage Solutions will be for 6-months’ probation period and directly linked to CreditStar Microinsurance Company Limited.
- Then subject to confirmation as a permanent position based on performance recommended by the Boards.
- A minimum of a BSc / BA Degree in Insurance, Sales and Marketing field or other related fields
- The position is open to individuals with 5 to 10 years of working experience in the general insurance industry, of which at least 2 years in Microinsurance, including the following qualifications:
- Innovative solution marketing professional with experience marketing in Insurance or Financial Services for Finance, Procurement, and Brokerage solutions.
- Passionate about industry trends and how newer technologies can transform the Insurance Sector.
- Lead iterative, data-driven discussions with peer experts to drive recommendations.
- Manage complex interdependencies across highly matrixed projects/teams.
- Have a comprehensive understanding of product functionality, an intimate understanding of buyer aspirations and pains, and familiarity with competitor products.
- Balance competing needs from multiple stakeholders. Moves forward positively amidst competing and shifting priorities.
- Strong written, and oral communication, story-telling skills, and persuasively presenting to varied audiences and settings. Advanced PowerPoint skills
- Extensive experience in Microinsurance projects management from both demand and supply sides, as well as on technical policy and risk regulation levels;
- Experience in Insurance law, particularly the interpretation of insurance contracts and legal disputes relating to contract wordings and reinsurance agreements
- Strong management skills, including the ability to provide strategic guidance, and technical oversight, mentor staff, build strong teams, develop work plans and manage budgets and project expenditures; Proven leadership of an underwriting function within a regulated insurance company or division.
- Good multi-cultural and interpersonal skills with experience in networking with relevant partners at all levels, such as Government, donors, private sector, NGOs, local community-based organizations, associations, etc.; Ability to interact and manage strong relationships within and outside the company.
- Ability to provide guidance and strategic direction as part of a senior leadership team to deliver on the robust growth of the business.
- Experience in shaping the structure of the business to grow the breadth and depth of the insured product portfolio.
- Commercially astute. Ability to deliver commercial solutions rather than just applying underwriting rules.
- Proven written, analytical, presentation and reporting skills and demonstrated computer skills;
- Practical knowledge of Microinsurance, including feeding information to the actuary, process mapping for various steps including registration, KYC, premium collection, claims processing;
- Should have adequate experience in Pilot (Startup) testing, since this is going to be a crucial part of the project;
- Have adequate experience in developing new products (life or non-life), considering that the introduction of new products represents one of the sub-tasks;
- In addition to the supply side initiatives, he/she should have a working knowledge of NAICOM and NICRB approach, which guides and regulate the industry;
- He/she should have vast experience in developing and implementing sales and marketing programs;
- Fieldwork will have to be a major part of the role (which includes working with the insurers as well as the potential clients);
- Ability to manage deadlines, set priorities and deliver cost-effective solutions through balancing workload and the use of others.
- Ability to take people along through persuasion, negotiation and adding value.
- Excellent communication skills and ability to explain underwriting, claims and reinsurance complexities in business terms.
- Any Nigerian local language proficiency will be an advantage but not a mandatory requirement.
- Strong interpersonal and influencing leadership skills, with an ability to develop a working relationship with a wide range of internal and external personnel.
- Excellent communication skills and ability to think and act strategically and analytically
- Good organizational skills with the ability to work well under pressure.
- Proficient with Microsoft Office products, including Excel, Word and PowerPoint.
- If this sounds like you and you have the experience and passion for Solution Marketing for Insurance, we would love to hear from you.
Interested and qualified candidates should send their Proposals or Resumes to: [email protected] using “Senior Marketing Manager, Microinsurance & Insurance Brokerage Solutions, CreditStar Microinsurance Company Limited” as the subject of the email.
Application Deadline: 26th April, 2022.