Our client in the Insurance Industry has made a position available for an experienced Business Development Executive with experience in a Brokerage environment. Our client in the Insurance Industry has made a position available for an experienced Business Development Executive with experience in a Brokerage environment.
Location: East London, Eastern Cape
- Level 4 FETC Short-term Insurance Qualification
- Passed FAIS Regulatory Exam
- Higher Certificate in Insurance
- Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
- Minimum 7 years short-term insurance with 5 of the 7 years in a commercial sales and service capacity in a broking environment.
- Experience writing medium to large commercial accounts
- Experience in customer liaison; building and maintaining relationships
- Experience working in a Brokerage is an advantage
- Technical Commercial Insurance Knowledge
- Knowledge of underwriting criteria
- Comprehensive Commercial Insurance Product Knowledge
- 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
- 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
- Adhere to FAIS requirements and set company procedures
- Perform Administration
- Collate all relevant information once the opportunity is presented by the Potential Client and agree to a Mandate.
- Negotiate with the Market (Insurers) and obtain the best possible proposals.
- Present to Potential Client using standardized company documentation only.
- Incept covers with Insurers once appointed using standardized company procedures only.
- Obtain a “Letter of Appointment” and “Debit Authority” from the 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 the process as well as an electronic version.