Business Development Executive

University of Fort Hare; East London; On-site; ZAR 400 000 - 420 000; Full time

Job summary

A leading educational institution in East London is seeking a Business Development Executive. The role focuses on growing market share through new business acquisitions in a commercial insurance context. Ideal candidates will have extensive experience in short-term insurance and a proven record of successful client engagements. A competitive salary of R 400,000 - R 420,000 annually is offered.

Qualifications

• Minimum 7 years experience in short-term insurance, with 5 in a commercial sales role.
• Experience in customer liaison, building relationships.
• Successful new business acquisitions.

Responsibilities

• Develop new business pipeline and prepare action plans for sales leads.
• Achieve new business sales targets.
• Provide after sales service for new business.

Skills

Business Acumen

Broking skills

Influencing and negotiation

Computer Literacy

Communication

Analytical Ability

Networking

Presentation

Education

Matric

Level 4 FETC Short-term Insurance Qualification

Higher Certificate in Insurance

Post matric qualification (BComm Risk/Accounting, BBA)

Job description

Overview

R 400000 - R 420000 Annually Basic Salary (Market related, Negotiable)

Our client based in East London is seeking a Business Development Executive to join their team. The ideal candidate would be responsible for growing market share by gaining Profitable New Business accounts.

Key Performance Outputs

• Compile target lists based on the sales plan for identified clients as well as your own
• Development of new business pipeline
• Prepare action plans for effective search of sales leads and prospects
• Initiate and coordinate development of action plans to penetrate new markets
• Create and conduct proposal presentations to potential Clients
• Achieve new business sales targets in line with sales plans
• Provide after sales service to ensure that the new business vests
• Identify opportunities for up/cross selling and write additional business
• 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
• Adhere to FAIS requirements and set company procedures
• Collate all relevant information once opportunity is presented by Potential Client and agree a Mandate
• Negotiate with Market (Insurers) and obtain best possible proposals. Present to Potential Client using standardized company documentation only
• Incept covers with Insurers once appointed using standardized company procedures only
• Obtain a “Letter of Appointment” and “Debit Authority” from Client
• Issue Client in writing a “Summary of Insurances” in respect of covers laid off
• Introduce the Account Executive to the client appointed on their Account and ensure a smooth handover procedure
• Maintain a hard copy file throughout process as well as electronic version

Minimum Requirements

• Matric
• Level 4 FETC Short-term Insurance Qualification
• Passed FAIS Regulatory Exam
• Higher Certificate in Insurance
• Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
• Minimum 7 years short term insurance with 5 of the 7 years in a commercial sales and service capacity in a broking environment
• Experience writing medium to large commercial accounts
• Successful new business acquisitions
• Experience in customer liaison; building and maintaining relationships
• Experience working in a Brokerage is an advantage

Competencies

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

Knowledge

• Insurance and brokerage industry and environment
• Comprehensive Commercial Insurance Product Knowledge
• Legal requirements of the insurance industry
• Marketing and sales principles
• Knowledge of products and services
• Technical Commercial Insurance Knowledge
• Knowledge of underwriting criteria

Please note only shortlisted candidates will be contacted.