To grow market share by gaining, maintaining, growing, and retaining Commercial accounts in the Financial Services Sector. Understanding the South African Regulatory framework of the insurance/brokerage industry is essential, along with a focus on customer service excellence in a target-driven environment.
REPORTING LINE: Business Insurance Manager
MINIMUM REQUIREMENTS:
- Matric Level 4
- FETC in Short-term Insurance
- Passed FAIS Regulatory Exam
- Higher Certificate in Insurance
- Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
EXPERIENCE:
- Junior Account Executive: Minimum 5 years’ short-term insurance with 3 of the 5 years in a commercial sales and service capacity.
- Account Executive: Minimum 7 years’ short-term insurance with 5 of the 7 years in a commercial account servicing (Account Executive) and sales capacity.
- Senior Account Executive: Minimum 10 years’ short-term insurance with 7 of the 10 years in a commercial account servicing (Account Executive) and sales capacity.
- Experience in customer liaison; building and maintaining relationships.
- Experience working in a Brokerage is preferred.
COMPETENCIES & 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
- 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 oriented
- 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 AREA:
- Maintain portfolio and attend to all client queries (revision/renewals, rate negotiations with insurers, amendments, cancellations, unpaid premiums).
- Do up and cross selling of products.
- Attend to audit lists regarding information captured into the system.
- 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 Company Minimum Commercial Service Standards.
- Growth and profitability: Retain, develop, and grow existing clients.
- Provide after-sales service to ensure that the new business vests.
- Identify opportunities for up/cross selling and write additional business.
- Client liaison and regular networking - Identify opportunities and implement marketing and promotional activities.
- Build relationships through regular contact, identifying critical decision makers with all stakeholders (clients, insurers, etc).
- Client Communication - Keep clients informed of developments in the industry and market.
- Client Service administration: Adhere to 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 clients.
- Responsible for proactive underwriting and 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.
- Perform credit control.
- Ensure that debit order information is updated and liaise with the bank.
- Collect money from clients electronically (where applicable).
- Advise relevant parties of unpaid items.
- Ensure compliance with section 20 Buss (extension of credit).
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