JOB PROFILE

JOB TITLE / Business Development executive
DIVISION / Branch Network/ Insurance Centres
FOCUS / New commercial business
PURPOSE / To grow market, share by gaining Profitable New Commercial accounts.
CONTEXT
(External/ Internal factors which influence the work environment, taking into account future conditions and strategic requirements.) /
  • Financial Services Sector
  • South African Regulatory framework of insurance / brokerage industry
  • Competitive environment
  • Economic, Social and Technological Environment
  • Customer Focus
  • Service Excellence
  • Target driven environment

CUSTOMERS
(Customers to whom the service is rendered / impacted upon.) /
  • External Clients
  • Suppliers (Insurers)
  • Internal customers: Indwe divisions and departments

VALUES
All Indwe employees are expected to conduct themselves in a manner commensurate with the Indwe values. /
  • Innovative
Actively seeking continuous Improvement
  • Nurturing
To care for our clients with Empathy
  • Driven
Proving the best solutions to our customers
  • Willing
To learn, grow and embrace diversity
  • Eager
To take responsibility and use initiative
.
NUMBER OF
SUBORDINATES / None
REPORTING LINE
(Immediate manager) / Business Insurance Manager or / Branch Manager
MINIMUM REQUIREMENTS
EDUCATIONS /
  • Matric
  • Level 4 FETC Short-term Insurance Qualification
  • Passed THE FAIS Regulatory Exams
  • Higher Certificate in Insurance
  • Post matric qualification is an advantage (BComm Risk/Accounting, BBA)

EXPERIENCE /
  • Junior Business Development Executive
  • Minimum 5 years’ short-term insurance with 3of the 5 years in a commercial sales and service capacity
  • Business Development Executive
  • Minimum 7years’ short term insurance with 5 of the 7 years in a commercial sales and service capacity in a broking environment.
  • Senior Business Development Executive
  • Minimum 10 years of which 5 of the 10 years in a commercial sales/service capacity in a broking environment plus qualified to at least Higher Certificate in insurance Level.
  • Experience writing medium to large commercial accounts
  • Successful new business acquisitions
  • Experience in customer liaison; building and maintaining relationships
  • Experience working in a Brokerage is an advantage

COMPETENCIES
SKILLS /
  • Business Acumen (understand the economic environment & identify viable financial opportunities)
  • Broking skills
  • Influencing and negotiation
  • Computer Literacy
  • Communication
  • Delegation
  • Analytical Ability
  • Numeracy skills
  • Networking
  • Presentation
  • Report Writing
  • Decision making
  • Time management
  • Selling
  • Ability to manage own work and outputs

KNOWLEDGE /
  • Insurance and brokerage industry and environment
  • Comprehensive Commercial Insurance Product Knowledge
  • Legal requirements of the insurance industry
  • Marketing and sales principles
  • Knowledge of products and services
  • Technical Commercial Insurance Knowledge of underwriting criteria

PERSONAL ATTRIBUTES /
  • Assertiveness
  • Interpersonal effectiveness
  • Service excellence
  • Ability to effectively adapt to change
  • Attention to detail
  • Self motivated
  • Enthusiastic
  • Result oriented / Deadline orientated
  • Professionalism
  • Ability to work under pressure
  • Perseverance
  • Work according to set policies and procedures
  • Target driven
  • Creative and innovative
  • Business Honesty and Intergrity
  • Ability to work in a team
  • Self-confident and visible

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JOB PROFILE

oKey Performance Area
/
  • Key Performance Outputs

1. Prospecting / Sales /
  • Compile target lists based on the sales plan for identified clients as well as your own
  • Development of new business pipeline
  • Prepare action plans for effective search of sales leads and prospects
  • Initiate and coordinate development of action plans to penetrate new markets
  • Create and conduct proposal presentations to potential Clients
  • Achieve new business sales targets in line with sales plans
  • Provide after sales service to ensure that the new business vests
  • Identify opportunities for up/cross selling and write additional business

2. Client Liaison /
  • Regular Networking -Identify opportunities and implement marketing and promotional activities
  • Build relationships through regular contact, identifying critical decision makers with all stakeholders (Client, Insurers, etc) ;
  • Client Communication - Keep clients informed of developments in the industry and market

3 Regulatory Compliance /
  • Adhere to FAIS requirements and set company procedures

4. Perform Administration /
  • Collate all relevant information once opportunity is presented by Potential Client and agree a Mandate.
  • Negotiate with Market (Insurers) and obtain best possible proposals.
  • Present to Potential Client using standardized Indwe documentation only.
  • Incept covers with Insurers once appointed using standardized Indwe procedures only.
  • Obtain a “Letter of Appointment” and “Debit Authority” from Client.
  • Issue Client in writing a “Summary of Insurances” in respect of covers laid off
  • Introduce the Account Executive to the client appointed on their Account and ensure a smooth handover procedure.
  • Maintain a hard copy file throughout process as well as electronic version.

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