Commercial Service Consultant at Momentum

Role Purpose    

• Management and servicing of business insurance client accounts whilst ensuring a balance between the company’s business priorities and insurance needs of clients in compliance with Financial Services Regulations.

Requirements    

•  Matric/Grade 12
• FAIS Credits (min 60 credits in short term insurance if date of first appointment is before 2010); or if date of first appointment is on or after 01/01/2010, a full recognised qualification as per the FSCA qualification list.
• FAIS Regulatory examination for Representatives (RE5)
• 18 CPD (continuous professional development) points
• Risk Assessment and analysis
• Commercial Reinsurance and Insurance Principles and practice
• Customer and Personal Service
• Clerical and administrative procedures

Duties & Responsibilities    
Issuing New Policy Documents:

• Issuing new policy documents in accordance to Company standards and regulatory requirements
• Ensure documents comply with FAIS and TCF
• Deliver policy documents (including SASRIA) to client within prescribed time period
• Provide advice to client on key aspects of cover to reinforce Sales advice
• Record or obtain confirmation of receipt of documents

Perform post sale client service and risk management: 

• Follow up client’s service to ensure retention and ensure client side risk management.

Recommending and interpreting surveys where necessary:

• Following up on implementation of survey and risk improvement requirements.
• Loading and advising clients on warranties and additional endorsements.

Analysing Risk/Claims Data or Information:

• Identifying the underlying principles, drivers, or facts on increased exposure, claims trends to inform underwriting intervention decisions
• Maintain acceptable portfolio mix including at renewal.
• Analyse weekly and monthly claims information for trends
• Identify changes to exposure from claim patterns or changes in certain occupations or client groups
• Recommend and implement underwriting interventions to reduce exposure or claims frequency/severity
• Report to Provincial Executive and Head Office underwriting on observations and interventions.
• Decline excessive risks or those falling outside mandate/underwriting limits

Making Decisions and Solving Problems: 

• Analyzing underwriting and claims risk information and evaluating results to arrive at the best solution and solve problems (make decisions)
• Decrease value of policy when risk is substandard and/or specify applicable endorsements or apply rating/excesses to ensure safe profitable distribution of risks, using reference materials (for midterm changes and renewals)
• Propose renewal terms for non-performing accounts.

Process Renewals:

• Renew policies in compliance with company underwriting standards and Financial Services Regulations
• Evaluate performance of policies and determine equitable renewal terms
• Where necessary refer to Provincial Exec and/or Head Office underwriting (Reinsurance, special Acceptances)
• Propose renewal terms within prescribed time taking into account claims experience, possible client needs and market changes
• Discuss renewal with client and agree terms and finalize renewal

Utilize IT systems and computers:

• Using computers and computer systems {including hardware and software (including Mertrix system)} to enter, or process insurance risk information and use computers to enter, access and retrieve insurance risk information and data
• Manage central client register and document repository for regional clients’ information in accordance to FAIS rules and Company standards
• Produce underwriting performance monitoring and feedback reports.

Communicating and maintaining business relationships with Persons Outside Organization:

• Communicating with people outside the organization (Clients, surveyors, consultants, loss adjusters, and other external sources). This information can be exchanged in person, in writing, or by telephone or e-mail (write business correspondence to external parties).
• Visiting clients on request.
• Advice to and negotiations with clients
• Survey requests and follow up on reports
• Consulting with external experts on risk and insurance issues

Establishing and Maintaining Interpersonal Relationships:

• Developing constructive and cooperative working relationships with Sales, Head Office Underwriting and Regional staff, claims and other departments, and maintaining them over time.
• Communicating with Supervisors and Peers: 
• Providing information to supervisors, Sales and/or regional management/underwriting management, by telephone, in written form (reports), e-mail, or in person.
• Updating and Using Relevant Knowledge: 
• Keeping up-to-date technically and applying new knowledge to your job (Continuous professional learning and development in insurance, risk management principles/practices plus contract, property, or insurance laws).
• Organizing, Planning, and Prioritizing Work:
•  Developing specific goals and plans to prioritize, organize, and accomplish your work
• Resolving Conflicts and Negotiating with Others: 
• Resolving challenges, conflicts and settling disputes with regards to underwriting and sales process application, or otherwise negotiating with others including Underwriting, Claims, Brokers, Finance and clients
• Provide Consultation and Advice to Sales, Claims and Finance:
• Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics
• Performing Administrative Activities: 
• Performing day-to-day administrative tasks such as maintaining information files and processing paperwork recording, storing, or maintaining information in written or electronic/magnetic form in line with FAIS and other document management policies
• Thinking Creatively:
• Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions

Competencies    

• Driving change 
• Purposeful collaboration
• Growing capability
• Relationship building
• Operational Excellence
• Technical Retail Acumen
• Portfolio Management
• Risk awareness
• Cross selling
• Extensive knowledge of the Commercial Short Term Insurance Industry
• Thorough understanding of the Commercial insurance industry
• Thorough understanding of business principles
• Interpersonal Skills
• Ability to handle conflict
• Negotiation skills
• Problem solving skills