Strategies to Grow
The Bancassurance Channel

17 – 20 May 2022 Sandton Centre, Johannesburg South Africa

25 – 29 July 2022 - Dubai -UAE

Register Now! Limited Seats Available!

Public R15, 999.00

Online R9, 999.00

Online R9, 999.00

Public R15, 999.00

Online R9, 999.00

$2500.00 USD - Dubai

Course overview:

In today’s consolidating world of finance, bancassurance has assumed a vital role in many financial institutions. Hence, banks and insurance companies need sustainable strategies to grow the bancassurance channel and emerge as a leader. Bancassurers are leveraging digital bancassurance channels, and need to use digitalization to drive bancassurance sales, marketing, distribution and customer experience and relationship management both across life and non-life insurance policies.

This Comprehensive Outcome-Oriented workshop, has been specially developed to help you develop an effective digital bancassurance roadmap for your company so that you can maximize your return on investment and profitability when implementing digital
bancassurance strategies and adopting innovation

Who Should Attend:

This Masterclass is designed for CEO’s, Presidents, Managing Directors, Directors, Country
Managers, General Managers, Head of Departments, Managers and Senior Executives from
across insurance, reinsurance companies and retail/SME banks directly responsible for:

  • Bancassurance Manager
  • Digital Bancassurance
  • Digital Strategy
  • Sales Management
  • Branches and Branch Management
  • Pricing & Distribution Management
  • Consumer Marketing
  • Key Account Management
  • Strategic Planning
  • Product Management/Development
  • Commercial Marketing
  • Marketing Management
  • Corporate Planning

Key Benefits of Attending:

  • Improve market share and profitability of your Bancassurance channel through digitaldistribution
  • Strengthen digital bancassurance strategic planning through global best practice insights
  • Build the digital user experience that clients increasingly prefer
  • Recognize the importance of transparency, compliance and customer focus in building a sustainable digital Bancassurance distribution channelincreasingly relyon technology for competitive advantage
  • Learn how to ensure your Bancassurance Partnerships and Deals are Sustainable and Profitable
  • Gain insights on bancassurance product development and innovation
  • Improve Bancassurance sales, marketing & distribution
  • Set up a highly successful bancassurance department & team – Drive your bancassurance portfolio profitably
  • Understand how you can leverage huge amount of customer data and insights and translate them into actionable bancassurance strategies
  • Digital Bancassurance – Successful utilize digital channels to drive the success of your bancassurance models and strategies

Course Outline:

What Are the Best Ways to Grow Your Bancassurance Channel?

  • Align Business Visions
  • Optimise Customer Journey
  • Data Analytics
  • Broaden Customer Segments
  • Incorporating Streamlined Sales Practices
  • Digitally enabled customer experience

From Strategy to Execution to Management

  • Transitioning to the Digital Bancassurance world
  • Managing and monitoring your Digital Bancassurance strategy for success
  • Execution & Management Strategies for Digital Bancassurance
  • Case studies of best practice digital bancassurance

Digitalization and Alternative distribution: Changing the way Bancassurance is Sold, Bought and distributed in Africa

  • Understanding the growth of internet insurance and banking platforms, and how it has impacted the development of bancassurance distribution channels
  • Leveraging the power of mobile and social media to strategize product marketing and distribution approaches
  • Designing a proprietary digital bancassurance platform for an integrated, data-driven and highly tailored customer proposition
  • Digitalizing of pre-sale tools and sales tools of the banking networks to optimize product offering

Analyzing the Future Prospects for Life and non-Life Insurance in the Africa Market- How can your Bancassurance unit Adapt Accordingly

  • Rethinking health and medical insurance in Africa– providing affordable access to high quality health care for low-income households
  • Eradicating the stereotypes of life insurance through education and creating awareness
  • Acknowledging the potential value of bancassurance for the further development and diversification of the financial services industry in Africa
  • Enhancing competition to improve on the low profit earning potential of firms in the non-life market

Product development Trends and How it will Impact your go-To Market Strategy in Africa

  • Assessing the impacts of geopolitical and economic conditions on the risk-reward ratio and development of new financial products
  • Assessing the impacts of economic reform on the market penetration and development of new financial products
  • Assessing the impacts of channel proliferation on accessibility and development of new financial products
  • Assessing the impacts of technology advancements on the efficiency of product   designing and development of new financial products

Attracting and Retaining Customers to Increase your Bancassurance Business Value

  • Leveraging the bank’s sources to improve quality and depth of your customer data
  • Adopting “design thinking” model to build customer insight closely aligned with the bancassurance strategy
  • Utilizing the analytics models to improve the customer experience and purchase probability
  • Revising campaigns and offerings with the customer relationship management to incorporate real time operations based on new sales and financial events

Effective data integration among banks and insurers can result in the creation of high-value leads

  • Adopt past historic customer data to build predictive statistical models in order to increase sales or reduce the risk of non- payment or customer attrition.
  • Understand the customer proposition in each segment and offer the right products according to the perceived characteristics.
  • Leverage customer data to maximize needs-based selling and cross-selling opportunities
  • Separate the high-net-worth customers from high risk /low profit groups.
  • Group customers together that are similar in transactional behavior
  • Optimize your business processes (service and product offerings) and communication aspects within each segment.

Embracing digitalization by Streamlining your Bancassurance Operational Processes Through data-driven Analytics

  • Integrating critical data streams across all stakeholders in the application process and automate key aspects of the quote-to-issue process
  • Automating various types of data transfers to the insurer via straight through processing
  • Combining data from existing applications and presenting the data through engaging web and mobile applications
  • Leveraging lead management system for a more efficient management of multiple leads, measure ROI and promote better practices

Understanding the Operational Challenges & Opportunities which are created by digitalization and the Implications it has on your Bancassurance Partnerships

  • Understanding the trends behind the digital revolution of bancassurance: Changing on consumer behavior and reduction of operational costs
  • Identifying the key challenges of a digitalized bancassurance
  • Engaging in risk management and fraud prevention to safeguard the interests of your customers
  • Recognizing the need to investment in digital analytics is required to better understand customer preferences and design campaigns and provide information in real-time

Strategic Overview of the Regulatory Landscape in Africa- How will the Latest Regulations Impact your Business Model & Strategy?

  • Empowering the insurance industry and improved customer protection through regulatory reforms
  • Recognizing the importance of a strong regulatory and supervisory system in managing risks brought about by a competitive environment
  • Understanding the development and extent of insurance regulation and supervision across Africa as a result of disparity in market maturity
  • Strengthening the overall quality of the insurance sector in a heterogenic Africa market through harmonization

End of the workshop

IN HOUSE AND ONLINE TRAINING

While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.

For Registration and other Training arrangements,
contact us on the detail below.
SOUTH AFRICA Tel: +27 11 057 6001
KENYA Tel: +254 11 353 1082
WhatsApp +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com