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  • Posted: Jul 27, 2020
    Deadline: Not specified
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    Indwe Risk Services (Pty) Ltd is a leading personal, business and specialist risk and insurance advisory business. Indwe came into existence in 2006 - the product of a merger between Thebe Risk Services and Prestasi Brokers, both of which had a formidable history in insurance. Thebe Risk Services was established in 1903 as Hoskens Insurance and in 1992 beca...
    Read more about this company

    Commercial Broker Support

    PURPOSE

    To provide technical broking skills and support to the small and independent brokers.  Responsible for managing, training and assisting IISS staff with structuring, negotiating terms and conditions, and policy administration of IISS independent brokers – including but not limited to book take-on’s, migrations, insurer engagements, new business, conversions, renewals and FNOL’s. To ensure all accounts are serviced in accordance with IISS Standards

    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
    • Competitive environment
    • Customer Focus
    • Service Excellence
    • Target driven environment

    CUSTOMERS

    (Customers to whom the service is rendered / impacted upon.)

    • Independent Brokers
    • Suppliers (Insurers & UMA’s)
    • Internal customers: Indwe divisions and departments

    MINIMUM REQUIREMENTS

    EDUCATION

    • Matric
    •  Level 4 FETC Short-term Insurance Qualification
    • Higher Certificate in Insurance 
    • Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
    • RE 5 qualification

    EXPERIENCE

    • Commercial broker with some underwriting knowledge
    • Minimum 7 years short term insurance with 7 of the 10 years in a commercial account servicing role, claims and underwriting capacity
    • Experience in customer and Internal staff liaison; building and maintaining relationships
    • Experience working in a Brokerage is preferred
    • Team leader with innovation and drive
    • Re-engineering processes to address efficiency
    • Sound knowledge in all classes of commercial insurances, especially material damage, business interruption, broadform liability and commercial crime classes

    SKILLS

    • Computer Literacy
    • Planning & organising
    • Decision making
    • Time management
    • Negotiation 
    • Problem solving
    • Communication skills
    • Report Writing
    • Presentation
    • Accuracy

    KNOWLEDGE

    • Insurance knowledge to at least an intermediate level
    •  Ability to negotiate and place a medium to large commercial account
    • Legal requirements of the insurance industry
    • Claims knowledge

    PERSONAL ATTRIBUTES

    • Customer service orientation
    • Attention to detail
    • Deadline oriented
    • Flexibility
    • Self starter
    • Ability to work as part of a team
    • Enthusiastic
    • Committed
    • Can work independently
    • Ability to handle pressure
    • Brand ambassadorship

    KEY PERFORMANCE AREAS

    Key Performance Outputs

    Broker Support

    Create strong Value Proposition for broker partnership:

    • Design and implement Service Level Agreement with Broker
    • Provide broker with technical support on product structuring and available markets
    • Promote and quote bespoke products to supporting brokers
    • Negotiate favorable terms and conditions with underwriters in most cases
    • Build trust and relationship with each supporting broker
    • Recommend upskilling for staff via The Indwe Learning Academy
    • Ensure policy migration to Acuideas platforms from each signed up broker
    • Share and explain regulatory changes with brokers
    • Draw up technical news letters on emerging risks and solutions

    QUOTATIONS

    Manage and assisting Broker Administrators with

    • Obtain full details regarding client risk required to quote
    • Request quotes from insurers and negotiate best terms and conditions
    • Quotes must be submitted to independent brokers within SLA time-frames
    • Design, implement and monitor Servicing standard

    TECHNICAL BROKING & ADMINISTRATION

    Manage and assist Broker Administrators with

    • Obtain quotes and negotiate with selected markets
    • Upon acceptance of quote, ensure receipt of signed proposal instruction and debit order forms (where applicable)
    • Send closing instruction to insurer to provide cover for clients of independent brokers
    • Send the Confirmation of cover form to the independent broker
    • Load policy information onto the system and create client file.
    • Issue invoices on policies (new polices, cash clients etc)
    • Ensure that independent brokers receive policy documents and wording.
    • Ensure adherence to underwriting guidelines.
    • Ensure receipt of premium payments and allocation to correct account
    • Update register in terms of instructions received and actioned (underwriting & claims)
    1. Endorsements on existing client files and mailing to independent brokers
    2. Auditing/reporting of premium list for unpaid premiums
    • Compile and submit reports timeously to commercial underwriter/product owner as per set standard
    • Ensure data integrity on all systems 
    • Attend to general correspondence and e-mails to independent brokers according to company standards
    • Adhere to all declarations and other company policy adjustments when required.
    • Manage all day to day i-Assist activities
    • Attend to all client queries (revision/ renewals, rate negotiations with insurers, amendments, cancellations, unpaid premiums)
    • Attend to audit lists regarding information captured into the system
    • Minimise cancellations through regular and pro-active dealings with brokers
    • Assist clients with claims related problems and report all deviations to management where relevant
    • Service Clients in accordance with the Indwe Minimum Commercial Service Standards

    CLIENT SERVICE ADMINISTRATION

    • Adhere to minimum FAIS requirements and set company procedures
    • Ensure that policies and endorsements are loaded onto the system
    • Ensure that claims are registered and follow-up until claim is finalized.
    • Maintain renewal lists and ensure that renewal schedules are sent to brokers
    • Responsible for proactive underwriting and profitability
    • Business administration - new, amendments, additions, renewals
    • Ensure all communication with the client is in accordance with FAIS minimum standards
    • General correspondence and e-mails to clients according to company standards
    • Compile and submit reports on time to line manager as per set standard
    • Accurate and Prompt Partner registration and ensure that payments are made
    • Manage coach and support direct reports
    • Collaborate with all stakeholders in a professional manner
    • Maximise income potential for Acuideas

    PERFORM CREDIT CONTROL

    • Advise relevant parties of unpaid items
    • Ensure compliance with section 45 of the Short Term Insurance act (extension of credit)

    go to method of application »

    Insurance Advisor: New Business (Bespoke Products)

    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

    Method of Application

    Use the link(s) below to apply on company website.

     

  • Send your application

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