Head of Retentions at Discovery Limited

Key Purpose

• To oversee the effective operations within the Retentions environment and to further manage the retention rate as per business metrics (NTU reduction and lapse rate) and upselling on existing business. 
• Implement and execute a streamlined collection process to recover outstanding premiums and debts from third parties, customers, and service providers efficiently.

Areas of responsibility may include but not limited to

• Manage and lead the retentions team, including headcount calculations, budget and forecasts
• Manage all client and broker functions including inbound and outbound calls, e-mails in the retention’s teams
• Redesign and modify client retention operations to ensure proper business processes are efficient and measurable
• Identify process improvement opportunities and implement changes as needed within the client retention team to support business objectives
• Implement policies, procedures and best working practices to ensure compliance with Industry and regulatory requirements
• Reporting to various stakeholders (MANCO, EXCO, Lapse rate Forum) on business retained, potential losses, premium rejection, non-preferred clients, retention strategy and other projects
• Escalated query handling from various stakeholders
• Work allocation to the teams. Ensure optimization and capacity is considered
• People management (call quality audits, coaching etc.)
• Ensuring manual processes are in place, until system solutions are found with minimal risk  
• Design and drive retention strategy to achieve and exceed target set for lapses and NTU’s within personal lines and commercial businesses 
• Manage all people related matters within the teams and ensure that correct employees are recruited, developed and retained in order to meet the business needs
• Broker Relationships to be maintained. Regular meetings with Brokers to discuss leads, lapse ratios, NTU ratios and assist with a plan to improve business targets.
• Chair the monthly Lapse Rate Reduction Forum

Personal Attributes and Skills

• Strong customer serviced focused
• Excellent relationship building skills
• Excellent verbal and written communication skills with an ability to influence, convince and negotiate effectively
• Results orientated
• Good business judgement
• Conflict handling skills
• Systematic and organized with the ability to plan and prioritize effectively
• Resilient with an ability to work under pressure and adapt to change
• Strategic mindset
• Analytical and attentive to detail
• Financial acumen
• Report writing

Education and Experience

• Matric (Essential)
• Full FAIS (Short term insurance) qualification (Essential)            
• RE5 qualification (Essential)
• Class of Business (COB) (Essential)
• Continuous Professional Development (CPD) certificate (Essential)
• Minimum of 5 years’ experience in retention management and strategy in short term insurance (Essential)
• Minimum of 3 years’ people and leadership management (Essential)       
• Minimum of 3 years’ call centre analysis (Essential)
• Minimum of 3 years’ budget management (Essential)
• Minimum of 3 years’ contingency and business continuity (Essential)
• Minimum of 3 years formulating business unit strategies (Essential)