Introduction: The Head of Alternative Distribution Channel Development will be responsible for developing, managing, and growing non-traditional distribution channels for the companys life insurance products. The role will focus on identifying new distribution opportunities, forging partnerships, and leveraging innovative technologies to increase market penetration and enhance customer acquisition. Description: THE JOB AT A GLANCE The Head of Alternative Distribution Channel Development will be responsible for developing, managing, and growing non-traditional distribution channels for the companys life insurance products. The role will focus on identifying new distribution opportunities, forging partnerships, and leveraging innovative technologies to increase market penetration and enhance customer acquisition. WHAT WILL YOU DO? Strategy Development: Lead the creation and execution of a comprehensive strategy for alternative distribution channels (e.g., digital, telecommunication partners, bancassurance, affinity groups, e-commerce platforms, etc.). Analyze market trends and customer behaviors to identify innovative distribution opportunities outside traditional channels. Ensure the alignment of distribution strategies with overall business goals and growth objectives. Partnership Management: Identify and establish partnerships with third-party organizations such as financial institutions, fintech companies, telecom operators, and retail platforms. Manage ongoing relationships with partners, ensuring mutual benefits and growth. Negotiate contracts, terms, and revenue-sharing agreements with distribution partners. Channel Development & Expansion: Develop and implement sales models for alternative channels, including digital platforms and emerging technologies (AI, mobile apps, etc.). Lead the design and development of new product offerings tailored to the needs of specific channels and customer segments. Optimize the customer journey and experience across all alternative channels. Cross-functional Collaboration: Work closely with marketing, product, and IT teams to ensure alignment in product development, marketing campaigns, and technological requirements for new channels. Collaborate with data analytics teams to continuously monitor channel performance and identify areas for improvement. Performance Monitoring & Reporting: Set and monitor KPIs for alternative distribution channels, including sales growth, customer acquisition, retention, and profitability. Report regularly to senior management on the performance of each channel and recommend adjustments based on data-driven insights. Team Leadership: Build and manage a team focused on channel development, ensuring alignment with company values and strategic objectives. Provide coaching and development opportunities for team members to enhance their skills and capabilities. WHAT YOU'LL BRING TO THE TABLE? Bachelors degree in Business, Marketing, or a related field; MBA or other advanced degree preferred. 8 years of experience in sales, marketing, or business development, preferably within the life insurance or financial services industry. Proven experience in developing and managing alternative distribution channels. Demonstrated success in building strategic partnerships. Skills Strong analytical and problem-solving skills. Excellent leadership and team management abilities. Ability to negotiate and manage partnerships effectively. In-depth understanding of digital distribution strategies and emerging technologies. Strong communication and presentation skills. WHAT WILL YOU GET IN RETURN? We offer great opportunities for personal and professional development in a stable company thats 130 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration. Turnaround time The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. Kindly note that should you not receive a response within 21 days please consider your application unsuccessful. Closing date: 24 October 2024 Our Commitment to transformation: In accordance with the employment equity plan of Rand Mutual Assurance and its employment equity goals and targets, preference may be given, but is not limited, to candidates from under-represented designated groups. Requirements: Bachelors degree in Business, Marketing, or a related field; MBA or other advanced degree preferred. 8 years of experience in sales, marketing, or business development, preferably within the life insurance or financial services industry. Proven experience in developing and managing alternative distribution channels. Demonstrated success in building strategic partnerships.
