Account Manager, Corporate & Business Insurance at Standard Bank Group

Job Purpose

Promotes sales in liaison with brokers and financial institution's leads and services brokers.  Receives requests for quotations from clients and provides a packaged solution based on client needs. Actively promotes company products.
 

Key Responsibilities/Accountabilities

• To hunt for and secure New Insurance Business opportunities from Leads generated within the Bank and outside of the Bank

• Personal and Commercial Insurance products (including Agric, Property, Marine etc.) and by

• Performing a proactive, mobile, value adding insurance partnership role in the market, ensuring that continual close personal attention is given to providing a comprehensive array of customised Insurance solutions tailored to meet customer needs in terms of business growth and potential.

Profitable Growth in Insurance New Business Sales by promoting and selling Insurance Solutions to SBSA & Non-SBSA Clients

• Developing and maintaining a realistic new business pipeline to ensure that growth targets are achieved.

• Pro-actively identifying and exploring potential up-selling and cross-selling opportunities when engaging with existing clients.

• Developing and implementing a calling schedule for business leads to establish the insurance needs and to assist potential new business clients to better understand their insurance options.

• Promoting, providing advice on, selling and structuring a wide and diverse range of insurance solutions customised to best meet the insurance needs of commercial customers.

• Selling refers to acquiring and placing new insurance portfolios on a mobile, proactive, face-to-face basis.

• Sourcing and taking ownership of sales leads from other divisions within the bank e.g. Commercial Banking suites, Commercial Property Finance, Vehicle and Asset Finance Division, etc.

• Sourcing and taking ownership of sales leads received from other sources outside of the Bank.

• Mining and analysing customer data to identify and plan new insurance opportunities.

Customer Service, Quality and Efficiency of advice given, and insurance products processed as per clients requirement

• Providing a central advisory/information/query/ claims handling service point for new and existing insurance customers

• Performing a proactive liaison role between all the relevant parties (bank/clients/insurers/back-office/claims)

• Accurately and efficiently processing client mandates/ documentation requirements for new insurance portfolios.

Lending Support with regards to client’s insurance products and Risk Management of insurance portfolio

• Explaining and structuring customised insurance options.

• Supporting customers in their completion of insurance application information requirements e.g. financial needs analysis and proposal forms.

• Notifying customers regarding the insurance requirements on loan facilities such as vehicle finance, guarantees, property loans, agricultural production loans, marine, etc.

• Exploring alternative solutions if required in terms of a client’s insurance portfolio risk analysis.

Adherence to Compliance as required by Legislation

• Continued adherence to disclosure and compliance in terms of the Financial Advisory and Intermediary Services Act (FAIS).

People Management

• Proactively coaching and mentoring subordinates.

Take full accountability of the Insurance Portfolio and Technical Broker support

• Quotation – Preparation and obtaining quotes from Insurers

• New Business – Ensure closing and capturing of New Business with Insurers/Ops

• Endorsements – Process Endorsement as required by the client

• Renewals – Obtains Terms from Insurers and present to the client

• Renewals – Manage the renewal process and conclude renewals prior to the renewal date

• Cancellations - Process Endorsement as required by the client

• Claims - Assists and follow up regarding outstanding claims

Adherence to Minimum Operating Standards

• Full and accurate broking submissions to insurers

• General Service Standards (100% acknowledgment of requests within 24 hours, 100% delivery on commitments made)

• Adherence to all compulsory training and forums, submission of documents and forms required

• Maintain a minimum of 95% accuracy score from the Quality Assurance audits and timeous adherence to the remedial actions required therefrom

Minimum Qualification and Experience

Qualifications

• Must be fully FAIS Compliant

• Regulatory Exam Certificate (RE5)

• Registered FSP Representative (Category 1 and Sub-Category 1.2 and 1.6)

• Fit and Proper as determined by FAIS legislation (Honesty, Integrity and Financial Solvency)

Experience

• 5 - 7 years Personal and Commercial Insurance

• A minimum of 5 years previous working experience in personal and commercial short-term insurance either as a Broker or Insurer. Bancassurance experience preferable.

• Sound knowledge of personal and commercial insurance practices, procedures and products.

• A good working knowledge of FAIS and FICA legislation.

• Sales and negotiation skills.

• Excellent verbal and written communication skills.