Business Development Executive

University of Fort Hare; Gqeberha; On-site; ZAR 200,000 - 300,000; Full time

Job summary

A leading university in South Africa is seeking a Business Development Executive to expand market share and grow profitable new business accounts. The ideal candidate will have extensive experience in the insurance sector, focusing on developing relationships, achieving sales targets, and understanding market regulations. This role combines strategic sales activities, networking, and client management responsibilities.

Qualifications

• Minimum 7 years in short term insurance with 5 years in commercial sales.
• Experience in customer liaison and building relationships.
• Knowledge of insurance and brokerage industry.

Responsibilities

• Compile target lists and develop new business pipeline.
• Achieve new business sales targets in line with sales plans.
• Negotiate with insurers and present best proposals.

Skills

Business Acumen

Broking skills

Negotiation

Communication

Presentation

Networking

Selling

Education

Matric

Level 4 FETC Short-term Insurance Qualification

Higher Certificate in Insurance

BComm Risk/Accounting or BBA

Job description

Monthly Basic Salary (Market related, Negotiable)

Our client based in Port Elizabeth 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 that only shortlisted candidates will be contacted.