Insurance Advisor: New Business (Bespoke Products) at Indwe Risk Services

Purpose

• To grow market share by gaining, maintaining, growing and retaining independent brokers

Context

(External/ Internal factors which influence the work environment, taking into account future conditions and strategic requirements.)

• Financial Services Sector
• South African Regulatory framework of insurance / brokerage industry
• Customer Focus
• Service Excellence
• Target driven environment

VALUES

All Indwe employees are expected to conduct themselves in a manner commensurate with the Indwe values.

• Innovative

Actively seeking continuous Improvement

• Nurturing

To care for our clients with Empathy

• Driven

Proving the best solutions to our customers

• Willing

To learn, grow and embrace diversity

• Eager

To take responsibility and use initiative

Minimum Requirements

Education

• Matric
• Level 4 FETC in Short-term Insurance
• Higher Certificate in Insurance 
• Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
• Passed RE Qualification

Experience

• Sales Executive
• Minimum 7 years short term insurance with 5 of the 7 years in a commercial account servicing and sales capacity
• Experience in customer liaison; building and maintaining relationships
• Experience working in a Brokerage is preferred

Skills

• Business Acumen (understand the economic environment & identify viable financial opportunities)
• Broking skills – medium to large commercial accounts
• Influencing and negotiation
• Computer Literacy
• Communication
• Delegation
• Analytical Ability
• Negotiation
• Presentation
• Decision making
• Time management
• Report Writing
• Selling
• Ability to manage own work and outputs

Knowledge

• Insurance and brokerage industry and environment
• Knowledge of specialist liability is an advantage
• Commercial insurance knowledge to at least an intermediate level on all Commercial classes.
• Legal requirements of the insurance industry
• Marketing and sales principles
• Knowledge of products and services
• Knowledge of underwriting criteria

Personal Attributes

• Assertiveness
• Interpersonal effectiveness
• Service excellence
• Ability to effectively adapt to change
• Attention to detail
• Self motivated
• Enthusiastic
• Result oriented / Deadline orientated
• Professionalism
• Ability to work under pressure
• Work according to set policies and procedures
• Target driven
• Creative and innovative
• Ability to work in a team
• Ethical
• Self-confident and visible

Key Performance Outputs

1. Sales management

• Increase sales opportunities for all bespoke products
• Do up and cross selling of products to existing brokers
• Set up minimum standards with admin team on quotes
• Minimise cancellations through regular and pro-active dealings with clients
• Assist clients with claims related problems and report all deviations to management
• Service Clients in accordance with the Indwe Minimum Service Standards
• Assist systems designer with product set up
• Set, manage and evaluate sales targets for all brokers

2. Growth and profitability

• Design sales strategy plan for bespoke products
• Retain, Develop and Grow existing market share
• Provide after sales service to ensure that the new business vests
• Identify opportunities for up/cross selling and write additional business
• Promote bespoke products to short term industry

3. Client liaison

• Regular Networking -Identify opportunities and implement marketing and promotional activities
• Build relationships through regular contact, identifying critical decision makers with all stakeholders (client, insurers, etc) ;
• Client Communication - Keep clients informed of developments in the industry and market

4. Product marketing and training

• Adhere to FAIS requirements and set company procedures
• Ensure all communication with the client is in accordance with FAIS minimum standards
• General correspondence and e-mails to clients according to company standards
• Ensure that all brokers are trained on bespoke products and facilitate training requirements
• Update and revise marketing material

5. Reporting

• Design sales reports and submit to line manager monthly
• Collaborate with all key stakeholders
• Communicate all product enhancements and requirements to Head of Product
• Produce monthly statistics to all brokers, quotes, conversions and income