Senior Account Executive – Retail Life Business Development at Minet Kenya

The Senior Accounts Executive – Retail Life Business Development will be responsible for driving the growth and expansion of Retail Life sales across the divisional level. This role entails spearheading business development initiatives, client acquisition, relationship management, and cross-functional collaboration to enhance the penetration of Retail Life products. The incumbent must have a strong understanding of Retail Life Assurance products, processes, and distribution channels.

Duties and Responsiblities

• Develop and execute a robust business development strategy to increase Retail Life penetration across Minet’s client segments.
• Identify and establish new distribution channels, partnerships, and market opportunities for Retail Life products.
• Champion Retail Life insurance solutions, ensuring continuous market engagement and product positioning.
• Conduct market research and competitor analysis to identify emerging trends and refine sales strategies.
• Drive new business acquisition by targeting individuals, SMEs, and affinity groups for Retail Life products.
• Manage relationships with key stakeholders, including clients, underwriters, and strategic partners.
• Provide excellent client service by ensuring timely response to inquiries, claims assistance, and policy renewals.
• Drive organic growth by leveraging on existing client base for cross-selling Retail Life solutions.
• Serve as the subject matter expert on all Retail Life products, educating internal teams and external partners on features, benefits, and processes.
• Collaborate with the Product Development team to enhance existing products and introduce innovative solutions based on market needs.
• Track and report sales performance, pipeline growth, and conversion rates against set KPIs.
• Collaborate with marketing teams to develop targeted campaigns and promotional initiatives.

Key Result Areas

• Growth in Retail Life policy sales and revenue.
• Expansion of distribution channels and partnerships.
• Client acquisition and retaining at least 90% on persistency
• Effectiveness of training and capacity-building initiatives.
• Achievement of set sales targets and overall contribution to the Retail & SME division.

Key Competencies

• Strong business development and negotiation skills.
• Excellent interpersonal and relationship management abilities.
• In-depth knowledge of Retail Life insurance distribution models and sales strategies.
• Analytical and problem-solving skills with a data-driven approach to decision-making.
• Strong communication and presentation skills.
• Self-driven, goal-oriented, and able to work independently.

Knowledge And Skills Required

• Minimum of 5 years’ experience in Retail Life Assurance business development, sales, and account management.
• Strong knowledge of Retail Life products, underwriting processes, and market trends.
• Background in Corporate Life Assurance is an added advantage.

Professional and Academic Qualifications

• Bachelor’s degree in business administration, Marketing, Finance, Actuarial Science, or a related field.
• Diploma in Insurance (AIIK or ACII).