Business Development Officer – International Private Medical Insurance (IPMI) at Jubilee Insurance

Job Ref. No: JHIL108

Role Purpose

We're seeking a savvy Business Development Officer - IPMI who possesses a comprehensive understanding of health insurance industry, particularly within international private medical insurance to drive rapid client growth and maintain portfolio management. You will cultivate and expand existing intermediary/client relationships, identify, and capitalize on growth opportunities, and ensure seamless client and product servicing, exceeding expectations and providing operational excellence.

Main Responsibilities
Operational

• Drive portfolio retention and revenue growth by offering the full range of Jubilee Health insurance solutions. Achieve this through customer-centric strategies.
• Nurture excellent relations with intermediaries and other distribution channels through regular contact to facilitate a steady inflow of business and cost-effective client management.
• Facilitate timely preparation of new business quotations and presentations, and closely follow up to convert them into business.
• Manage insurance processing and contracting, Customer support, contract administration, and enrolment and eligibility.
• Participate in the annual review process of insurance policies and make recommendations on renewal proposal.
• Conduct market research and consistently monitor and provide Insurance market intelligence and identify potential for both business acquisition and strategic planning.
• Conceptualize new initiatives for increasing sales and top-of-mind recall amongst potential clients.
• Identify marketing opportunities by studying client's requirements; defining market, competitor's share, and competitor's strengths and weaknesses; forecasting projected business; establishing targeted market share.
• Creating a database on prospective clients. Maintaining constant touch with them by identifying key stakeholders and decision-makers
• Generate weekly/ monthly/ quarterly / annual business reports in accordance with agreed key performance indicators as well as IPMI Market research.
• Sustain rapport with key accounts by making periodic visits; exploring specific needs; and anticipating new opportunities.
• Build and maintain cohesive relations with team members, product specialists, departments, and colleagues of Jubilee Health Insurance.
• Ensure all work carried out is conducted in accordance with the company values, compliance and regulatory policies.
• Ensure quality standards set are adequately followed within the area of operations under your profile.

Key Competencies

• Health Insurance Expertise
• Market Knowledge within the international health insurance market, including emerging trends, competitor products, and market segmentation.
• Sales and Business Development Skills
• Capability to build and maintain strong relationships with key stakeholders, including clients, brokers, underwriters, and internal teams, to ensure customer satisfaction and retention
• Strong verbal and written communication skills to effectively convey the value proposition of IPMI products, negotiate terms, and deliver presentations to diverse audiences.
• Proficiency in analyzing market data, sales metrics, and performance trends to inform strategic decision-making and optimize business development efforts.
• Ethical Conduct: Commitment to upholding ethical standards and regulatory compliance in all business dealings, ensuring transparency, integrity, and trustworthiness in client relationships.

 Qualifications

• Bachelor’s degree in business or insurance related course
• Professional Insurance certification such as CII or COP is an added advantage.
• Experience in IPMI Employee Benefits is an added advantage.
• Proven track record of achieving and exceeding set targets.

 Relevant Experience

• 3-5 years minimum experience in business development (Insurance/Financial services) with both corporate and/or individual customers