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Business Development Executive
University of Fort Hare
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Business Development Executive
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
Education
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.
- 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
- 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
- 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
- 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.
* The salary benchmark is based on the target salaries of market leaders in their relevant sectors. It is intended to serve as a guide to help Premium Members assess open positions and to help in salary negotiations. The salary benchmark is not provided directly by the company, which could be significantly higher or lower.