VP, Bancassurance - #1036299

Singlife is a leading homegrown financial services company offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.

In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.

Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.

First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic.

Purpose of the Role

Responsible for the business development in the Singlife Bancassurance channel. Deliver Bancassurance strategies and sales targets that are agreed and aligned with Management’s objectives and direction, positioning Singlife as a preferred insurer in the open architecture bank space.

Key Responsibilities

• Deliver BAU sales targets, sales plans and business development initiatives

• Build strong relationships with external Bancassurance Business Partners

• Build strong working relationships with internal stakeholders for seamless case management (New Business, Underwriting, Payments, Finance)

• Engage with the banks Sales Team Leaders & Product managers on a regular basis to deliver business outcomes.

• Ensure compliance with all applicable laws and regulations relating to the functional activities (Financial Crime, Legal & Compliance)

• Adherence to all finance limits placed on business development relating to APE, VNB sales activities & expense management guidelines

Key Decisions within the Role

• Deliver BAU sales targets, sales plans and business development initiatives

• Compliance with all applicable laws and regulations relating to the functional activities (Financial Crime, Legal & Compliance)

• Adherence to all finance limits placed on business development relating to APE, VNB sales activities & expense management guidelines

Requirements

Experience

• Business Development experience in Life & Health Insurance

• Sales driver with proactive business development skills

• Highly numerate in relation to sales levers and KPIs

Education

• Degree or Poly