Welcome to the Premier Workshop

Bancassurance Masterclass 2018

Brief

Bancassurance has gained considerable traction amongst many Kenyan banks and insurance companies. The integrated model provides an alternative distribution channel for insurers seeking to reach more customers at a lower cost. While it remains a novel business model at the strategy level, there is a skills-gap when it comes to its implementation.

This Bancassurance MasterClass 2018 is designed with the express aim of instilling practical skills to the delegates on effective integration and execution. Bancassurance needs to be internalized and seamlessly harmonized with other banking activities, to give clients a wholesome value proposition.

Inevitably, the success of Bancassurance will be witnessed and felt at the branch level.

As at 31st December 2017, there were 1,518 bank branches in Kenya. There are immense opportunities for symbiotic relationships between banks and insurance companies. This Bancassurance MasterClass lays a strong emphasis on how strategists, C-Level managers and branch managers can effectively roll out Bancassurance throughout their branches.

Mr. Doug Sumner, a global authority on Bancassurance with more than 30 years’ experience, will lead this 3-day MasterClass. It will be highly participative, ensuring that every delegate experiences a personal value-add from the trainer.

Why Attend?

  • Learn how to leverage the distribution capability that exist within your organisation
  • Understand the power of a multi-channel Bancassurance Strategy
  • Improve market share and profitability of your Bancassurance channels
  • Strengthen strategic planning through global best practice insights
  • Build a client centric advice model
  • Recognise the importance of transparency, compliance and customer focus in building sustainable Bancassurance distribution channels
  • Making the right strategic choices
  • Understand the profit drivers of your Bancassurance partners
  • Aligning company and partner goals for mutual benefit and long-term partnership
  • Identify the characteristics of a successful Bancassurance Branch and Bancassurance Branch manager
  • Learn about emerging trends and opportunities in fintech and insurtech in the context of Bancassurance
  • Participants will have the opportunity to sign up to an on-going engagement and professional development program.

Who Should Attend

This workshop is designed for CEO’s, Presidents, Managing Directors, Directors, Country Managers, General Managers, Head of Departments, Managers and Senior Executives directly responsible for:

  • Bancassurance
  • Sales Management
  • Branches and Branch Management
  • Pricing & Distribution Management
  • Consumer Marketing
  • Key Account Management
  • Strategic Planning
  • Research Units
  • Product Management
  • Commercial Marketing
  • Marketing Management
  • Corporate Planning
  • Market Research
  • Business Management
  • Market & Business R&D

Post the Masterclass

  • Bancassurance is evolving rapidly. Continuing professional education, which is an important feature of the program, is available via a dedicated website for exchanging ideas, discussing issues and remaining engaged with like-minded Bancassurance professionals.
  • This site is available to participants for an annual subscription and will also provide formal educational activities on a quarterly basis for participants to assist in maintaining the currency of their knowledge and keeping them at the forefront of Bancassurance practice and theory.

The Workshop

This 3-day Masterclass & Forum will focus on current best practice in Bancassurance using the latest mix of concepts and strategies. The workshop will cover key essentials, including: client relationship management, marketing product and services through different channels available to Bancassurers, advice and product sales in an increasingly regulated environment, the role and effectiveness of branches, the powerful disruptive impact of Fintech and Insurtech and building mutually beneficial Bancassurance partnerships.

You will gain comprehensive knowledge of what is happening globally in Bancassurance and practical knowledge and techniques that you can use to improve your Bancassurance strategy and channel effectiveness.

Key Outcomes Of Attending

  • Develop an appreciation of strategic choices available to Bancassurers
  • Gain a valuable insight into developing global best practice
  • Learn the key success factors that all Bancassurers must understand
  • Consider the role of a multi-channel distribution strategy in any successful Bancassurance strategy
  • Understand the drivers of product profitability in Bancassurance
  • Understand how branches are evolving to remain relevant as banks increasingly rely on technology for competitive advantage
  • Gain insight into how fintech/insurtech is beginning to impact on the landscape of Bancassurance
  • Join a group of like-minded Bancassurance professionals for ongoing professional education, ideas and inspiration

Key Outcomes Of Attending

  • Develop an appreciation of strategic choices available to Bancassurers
  • Gain a valuable insight into developing global best practice
  • Learn the key success factors that all Bancassurers must understand
  • Consider the role of a multi-channel distribution strategy in any successful Bancassurance strategy
  • Understand the drivers of product profitability in Bancassurance
  • Understand how branches are evolving to remain relevant as banks increasingly rely on technology for competitive advantage
  • Gain insight into how fintech/insurtech is beginning to impact on the landscape of Bancassurance
  • Join a group of like-minded Bancassurance professionals for ongoing professional education, ideas and inspiration

The Facilitators

Doug Sumner
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Doug Sumner

DCS Consulting Solution

SESSIONS

At the end of each session, participants will be asked to reflect on the session and briefly write down their response to 3 questions:

  1. What did I learn?
  2. What are the implications for my business?
  3. What will I do differently when I am back in my business and attempting to implement/drive a successful Bancassurance strategy?

Observations on bancassurance as a seasoned practitioner on how to achieve success, work together successfully and avoid the pitfalls

Monday 22nd October

9:00am-10:00am

Speaker: William Maara  |  Managing Director  |  Barclays Life Assurance

1.      How to achieve success

ü  Product – this will talk to affordability, ease of understanding to the customer & sustainable returns to shareholder.

ü  Distribution channels – this will talk to ease of access of distribution points by the customer

ü  Customer Experience – this will talk to pre & post sales service.

2.      Work together successfully

ü  Partnerships – this will talk to stakeholder management including brokers, regulator & shareholder

3.      Avoiding the pitfalls

ü  People & Processes/Technology – this will talk to having the right processes/technology & the right people in place to successfully underwrite a large no of policies

ü  Risk & governance – this will talk to managing internal and external risks

2hrs

SESSION 1 THE BASICS OF SUCCESS – WHAT IS A SUCCESSFUL BANCASSURANCE STRATEGY?

11:30 AM – 12:30 PM The program begins with a look at the core strategic drivers of Bancassurance and in particular how to implement those successfully. Areas covered include:

  1. The 4 stages of Bancassurance – how to move from ‘baby steps’ to embedded success while avoiding the pitfalls along the way.
  2. The 6 key components of a Bancassurance strategy.
  3. Critical areas for investment in capacity and capability.
  4. The crucial role of Brand.
  5. Working together for mutual benefit and sustainable business success.

1Hrs

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 2 FROM BRANCH BANKER TO BANCASSURER

1:30 pm  - 2:30 pm This very informative session shares the results from research designed to understand what it takes to build a successful Branch-based channel for Bancassurance success. Topics covered include:

  1. Characteristics for success in your Branches
  2. Identifying a ‘good ‘ Bancassurance branch and a ‘good’ Bancassurance branch manager
  3. Translating strategy into sales!

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 3 INSURANCE PRODUCTS

2:30 pm  - 3:30 pm Insurance products are of course very different from banking products. It is important that bankers in particular understand the nature of the products that will be/are being sold through their channels. It is also important to have an understanding of the many and varied products that may be suitable for the bank’s clients. This session provides an overview of all the main types of insurance that may be employed in the Bancassurance channel.  

1Hrs

SESSION 4 BANCASSURANCE PRODUCTS – WHAT WORKS

3:45 pm – 5:00 pm Following on from the discussion on insurance products we have a look at how insurance products are actually being deployed in the Bancassurance channels including: a. Characteristics of successful Bancassurance products b. Review of suitable products from across the globe c. Review of product innovation that may impact on the Bancassurance channel over time.

PANEL DISCUSSION – LESSONS FROM THE FIELD

8:00 AM 10:00 AM

This session is a panel discussion with Kenyan Bancassurance practitioners. The emphasis of the session is lessons from actual experience in the Kenyan marketplace Sponsored by Turnkey Africa Panelist:

3Hrs

SESSION 5PRODUCT BUNDLING     

10:15 am – 11:00 am

At heart, Bancassurance is all about ‘bundling’ e.g. bundling the insurer’s brand with the banker’s brand for mutual success Insurance is best sold when a ‘risk’ is created e.g. when a loan is taken out. It is no surprise that effective product bundling is one of the key success factors for Bancassurance. The end result of bundling is a banking solution that hopefully satisfies the broader financial needs of a customer. The right bundling leads to higher customer and frontline banker acceptance; ideally, it should also lead to a higher profit to the bank. This session looks at product bundling on a deeper level to consider why bundling works, the different types of bundling strategies available to banks and how to optimise the pricing structures of bundling

45mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 6 DEVELOPING INNOVATIONS AND TRENDS IN FINTECH AND INSURETECH

11:00 am – 12:30 am

The extraordinary pace of development in Fintech and Insurtech and how the traditional models of banks, insurance companies and the very products they sell are being fundamentally reimagined by technological innovation. Bancassurance, in one sense, sits at the very epicentre of the developing Fintech and Insurtech revolution. This session is a study in how the forces of technological innovation are impacting on Bancassurance as a business model and what the future may hold. The sessions includes:
  1. Case studies in financial services innovation from around the globe.
  2. Bancassurance and Fintech/Insurtech- the future of Bancassurance
  3. How the very essence of product is being reimagined

1Hrs 30mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 7HOW TO SELL AND MARKET THE PRODUCTS IN THE BRANCH

1:00 pm – 2:30 pm

This is a ‘train the trainer’ style session, which distils into your trainers more than 30 years’ experience leading and developing specialist in-branch agents and the skills they require to successfully sell insurance to branch customers. The structure of the session is to equip you with a training module and expertise that you can use back in your own organisation.
  • The skills of a successful insurance agent
  • Identifying basic insurance needs
  • CIME – A simple method of selling insurance
  • Prospecting
  • Working with the branch staff
  • Procedures, e.g. hand-off
  • The sales process
  • Handling basic objections
  • Closing the sale
  • Customer service

1Hrs 30mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 8 TEACHING THE BRANCH STAFF TO SELL. 

2:30 pm - 4:00 pm

Many Bancassurance business models rely on the branch staff to initiate the sales conversation leading to either a sale or qualified referral. Too often this strategy fails because the branch staff are not equipped with the basic skills they need to perform that role. This is a ‘train the trainer’ style session where we work through the skills required for branch staff to sell. Either for the initial lead generation or where the Bank has chosen not to have specialist insurance sellers in the Branches. The structure of the session is to equip you with a training module and expertise that you can use back in your own organisation.
  • Asking the ‘question’
  • Dealing with objections
  • Using ‘open’ questions to progress the sale
  • Using the principles of SPIN selling to structure the conversation
  • CIME -a simple but effective method of identifying insurance needs
  • Closing the sale
Role-play – participants will role-play a number of different sales scenarios

3Hrs

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 9 BANCASSURANCE TOOLS AND MODEL      

4:15pm – 5:00 pm

Our trainer has been involved in Bancassurance and financial services for over 30 years. A number of tools have been developed to assist in growing and managing the Bancassurance channel. These models include:
  • Understanding the parties views on the effectiveness of various lead generation techniques, sales channels and products
  • Forecasting new product sales
  • Developing a risk register for the channel
  • CIME advice tool
  • New product launch plan
  • Referral management
 

45mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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KEY NOTE PRESENTATION  

 8:00 am – 10:00 am

Observations on Bancassurance from a seasoned practitioner – how to achieve success, work together successfully and avoid the pitfalls Guest Speaker: William Maara, CEO Barclays Life

3Hrs

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 10 HOW TO SELL AND MARKET THE PRODUCTS OVER THE TELEPHONE

10:15 am - 12:00pm

  1. Elements of a successful Bancassurance call centre
  2. Crafting effective Call Centre scripts
  3. The key elements of successfully selling insurance over the telephone

1Hrs 45 Mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 11 MANAGING THE BRANCH DISTRIBUTION CHANNEL 

12:00 pm – 1:30 pm

  1. The mechanics of distribution management e.g. KPI, remuneration structure, aligning compensation with culture
  2. Managing distributors e.g. 3rd party banks/product providers
  3. Creating value for both parties while retaining profit
  4. Managing rapid changes in the industry especially moving out from traditional distribution channels
  5. Choosing the right products with the right channel or business model

1Hrs 30mins

SESSION 12 REGULATION AND COMPLIANCE 

2:30 pm – 3:00 pm

Banks hold a central place of trust in the economy, it is crucial that the move to Bancassurance does not result in unacceptable sales practices and regulatory breaches that may compromise that trust. This sessions considers how regulation and community expectations underpin a sustainable Bancassurance model.
  1. Around the region – trends and recent developments in regulation, compliance, product, advice.
  2. Lessons from the developing regulatory landscape.

30Mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 13 UNDERSTANDING THE PROFIT DRIVERS OF INSURANCE AND BANKING PRODUCTS – A NON-TECHNICAL PERSPECTIVE FOR BANCASSURERS.

  3:15 pm - 4:30 pm

Understanding the drivers of insurance product profitability should be considered an important skill for the many stakeholders to a successful Bancassurance strategy as it will assist in producing sensible negotiated outcomes through a deeper appreciation of a key driver of your insurance partner(s) decision making processes. This session will introduce the participants to the fundamentals of life insurance, and general insurance product profitability.
  1. Insurance Companies, the three principal ‘drivers’ of profit are: underwriting margin, fee income and investment performance.
  2. Understanding the concept of embedded value in life insurance
  3. Key profitability drivers and ratios for general insurance

45mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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SESSION 14 FROM STRATEGY TO EXECUTION TO MANAGEMENT

4:30 pm – 5:00 pm

  1. Key activities for success
  2. Managing and monitoring your Bancassurance strategy for success
  3. Course summary and close

30 Mins

Doug Sumner

Doug Sumner is the Owner and Principal of his consulting firm: DCS Consulting Solution.  His organisation provides consulting services to Boards and CEO’s in the following areas :  business and strategic planning, brand and organizational growth, distribution strategy and channel development, investment governance and management, risk management and policy development. Doug is recognised as a […]

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Download Event Program

VENUE

The Aspire Center,

206 Chiromo Rd,

Nairobi, Kenya

REGISTER

EARLY BIRD

$775

By 1st Oct 2018
Workshop Kit
Delegate Pass
Buffet Lunch
Certificate
STANDARD

$999

By 17th Oct
Workshop Kit
Delegate Pass
Buffet Lunch
Certificate
FULL

$1200

By 21st Oct
Workshop Kit
Delegate Pass
Buffet Lunch
Certificate

10

COUNTRIES

3

FACILITATORS

14

SESSIONS

60

ATTENDEES ONLY

SPONSORS

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