Business Development Executive - Independent Agents at PACIS Insurance

PACIS Insurance Company Limited is a financial institution regulated by IRA which has been in operations for over 15 years in the Kenyan market. The company is an initiative of the Catholic Church which offers a wide range of insurance products within the General and Medical Insurance classes. To meet its growing customer needs and expectations, the company wishes to recruit an experienced, dynamic, and innovative Business Development Executive - Independent Agents

JOB PURPOSE:

The BDE – Independent Agents will develop, retain, and expand business relationships with independent agents within the channel. He or she will manage relationships to ensure that service levels are meet or exceeded across all products and service touch points and develop sales plans for identified partners and promote company products and services based on the channel needs.

MAIN DUTIES AND RESPONSIBILITIES:

Revenue Growth and Profitability

• Champion and manage business acquisition strategic plan by growing revenue in line with the Company’s growth strategy for the Independent Agents business through, retention, generic growth and acquisition of new business.
• Take responsibility for the management of Tenders requests and quotations from agents and ensure prompt turn-around times and agreed.
• Manage quotations process, ensure set TAT’s for quotations are met consistently to establish and maintain a healthy pipeline to deliver a hit ratio of 40%.
• Provide ease of doing business tools for all personal lines and SME products to empower agents to quote and bind business in the field with minimal reference Pacis in line with the underwriting guidelines.
• Liaise with underwriting to ensure renewal notices go out on time (at least 60 days before renewal date)and follow up with agents to ensure all profitable accounts are retained to achieve companies desired retention rates.
• Adopt a portfolio renewal follow-up approach rather that line of business renewal follow-up approach.
• Liaise with credit control team to provide statements monthly, discuss the receivables position with the key clients within independent agents’ network and ensure 100% adherence to the credit policy.
• Acquiring new and developing new key independent agents’ strategic partnerships and reactivating dormant relationships as per agreed annual targets.
• Drive the company’s profitability objective by growing a balanced portfolio within the retail channel by initiating partnerships to drive profitable product lines.
• Manage agreements with partners and ensure consistent compliance by all parties.
• Use strong negotiation skills, to ensure that the appropriate targets, pricing and margins are secured for all business development opportunities.
• Collaborating with Management on topline goals, planning, forecasting, and maintaining short and long –term business development plans in line with the agency business strategy.
• Prepare monthly business development reports detailing initiatives, performance, and other related projects/activities.
• Ensure top notch customer experience is provided to all business partners.

Relationship Management

• Establish and maintain professional relationships through networking with key independent agents by attending their functions.
• Host regular and relevant functions (as agreed with line management) to seek opportunities to develop strong relationships and business bonds. Manage the process of declining quotes to ensure we do not damage relationships with agents.
• Implement a structured visits plan where Tier 1 and top Tier 2-3 independent agents are visited on a weekly basis and maintain report.
• Implement the companies intermediary training plan and ensure compliance.
• Design and implement top intermediary relationship plan to enhance relationships between Pacis and the key agents.

Market Intelligence

• Collect market intelligence through research by reading articles, publications, internet, word of mouth and networking daily to keep abreast of market developments.
• Assess market opportunities with respect to competitor sales sources by remaining in touch with market forces and influences.

Risk & Control

• Ensure that all activities and duties are carried out in compliance with all regulatory requirements, Operational Risk Framework and internal policies & Standards.
• Managing the implementation of internal and external audit and risk recommendations within the agreed timelines.

NATURE AND SCOPE:

• Internal Contacts: Business Development, sales, Operations and finance teams.
• External Contacts: Clients, independent agents and other stakeholders from re- insurance market

Minimum Academic Qualifications

• Bachelor’s degree in Business related course (Insurance Option, Marketing, Business administration and Finance) or equivalent from recognized university.

Professional Qualifications

• Professional qualification - AIIK, ACII

Experience

• Five (5) years Insurance experience with at least with at least three (3) years at Similar position.

Skills and Attributes

• Visionary and strategic
• Excellent negotiation & persuasion skills.
• Tenacious and resilient.
• Good networking and interpersonal skills.
• Excellent oral and written communication skills.
• Able to work with minimum supervision.
• Leadership skills to manage a channel and deliver results
• Service mindset & Attitude.
• Problem solving aptitude.
• Ability to self-start, work independently.
• Time Management – Ability to prioritize & manage workload.
• Proven ability to deliver results though accountability.