Business Development Manager - Bloemfontein at Hollard Insurance

Role Objectives

• Develop and maintain effective business relationships with brokers in order to attract and develop profitable
• Ensure that new brokers are sourced and on-boarded

Portfolio

• Development, maintenance and implementation of new broker
• Organise day to day operations by establishing priorities, assigning work and scheduling
• Contribute to the growth and profitability of the branch and
• Maintain the standards of the department thus enhancing the image of
• Ensure all technical aspects of administrative functions within the department is adhered

Key Responsibilities

• Sales and Marketing: Visit brokers and accompany sales team members on broker visits, manage own portfolio obtain new business from brokers and develop relationships with existing and new brokers. Manage the growth (including organic growth) of the division. Sell Hollard products to brokers and/or agents using consultative selling techniques. Contribute to effective marketing of the Company products by answering questions, resolve problems on topics such as policy status, billing, etc, and explaining new or revised products and Make presentations to brokers and/or agents
• Account Management: Meet goals for volume and value of quality new business quoted and written within company Management of own portfolio. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business. Service, grow and maintain renewal policies. Confirm rating and cover on endorsements requested. Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results. Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control review and discuss all outstanding premiums and arrears with Brokers on a monthly basis
• Underwriting/Risk Analysis: Analyze qualitative and quantitative data prepared by brokers to provide approval for risk selection and acceptance, coverage and price. Recommend creative alternatives in regards to rating plans, coverage and payment plans. Decline unsuitable risks. Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system. Ensure reinsurance is in place, where
• Relationship Management: Interact frequently with brokers, team members and/or
• Networking: Identify prospective customers using established lead
• Employee growth: Take responsibility for your own career growth and have regular
• Processing: Ensure accurate and timely data capturing of quotes, new business renewals, endorsements, declarations and post loss adjustments. Complete transactions within delegated authority limits and within set standards and service level agreements
• Giving direction: Giving explanation on the method / process required to complete
• Follow up and providing feedback: Following up on regular intervals and provide constructive feedback to the
• Coaching and support: Providing informal and formal coaching support to team when
• Problem solving: Assisting staff in resolving complex problems while ensuring adherence to standards and objectives
• Reporting: Provide necessary reporting on financial and operational indicators relating to sales, i.e. budget attainment, hit rate, renewal growth Provide feedback (reporting) to senior management on achievements, pending issues, problems and suggested recommendations
• Decision making: To make recommendations and take decisions on technical or complex administrative functions within mandates
• Customer service: To ensure that customer service standards are maintained in accordance with service level agreements and to assist with technical advice and other assistance over and above the normal sales duties
• Effective Communication: Communicate effectively with external parties as well as sales team and other departments
• Continuous Process Improvement: Ensure full compliance to all processes, policies and procedures and identify areas for improvement.
• Innovation: Participate with senior management in initiatives around product development, processes, policy and strategy
• Policy and Procedures: Documentation, management, maintenance and communication of all policies and procedures
• Risk Management: Broker account management credit control procedures, loss ratios, broker/agent agreements, ensure compliance with rating, underwriting principles and reinsurance

Required Knowledge and Experience    

• 5 years short term insurance experience

Sound Understanding of:

• Product knowledge
• Insurance terminology
• Rating principles
• Risk assessment knowledge
• Market knowledge (including competitors)
• Underwriting procedure
• Claims procedure
• Reinsurance market, reinsurance and treaties
• Legal knowledge (prescription act, insurance act, FAIS)
• Risk management
• Financial and credit control knowledge
• Management skills
• Business management skills
• Strategic thinker
• Sound understanding of the TCF principles
• Technical compliance
• Self management skills (can organise work, space, time)
• Good communication skills (including writing and presentation skills)
• Relationship management skills (have the right approach with the right people)
• Negotiation skills (internal & external)
• Analysis and interpretation of data pertaining to assigned books, reports and market conditions
• Demonstrate common sense, self motivation and discipline
• Well presented / representative of Hollard’s image

Educational Requirements    

•  Business degree or similar insurance qualification