Head Business Development - Insurance Company (Durban branch)

SUMMARY:
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POSITION INFO:

Required Knowledge and Experience:
At least 8 years experience (minimum three years in managerial position) with a sound understanding of commercial and industrial short term insurance:
Product knowledge
Insurance terminology
Rating principles
Risk assessment knowledge
Market knowledge (including competitors)
Underwriting procedure
Claims procedure
Reinsurance market, reinsurance and treaties
Legal knowledge (prescription act, insurance act, FAIS)
Risk management
Financial and credit control knowledge
Management skills
Business acumen
Strategic thinker
Innovative, creative and agile
FAIS compliance
Technical compliance

Educational Requirements

Matric
Financial or Business Management preferable – or equivalent experience
Business degree or similar insurance qualification

Role Objectives
Overall leadership and business development for sales of the Durban branch
Actively manage and lead the sales team
Organise day to day operations by establishing priorities, assigning work and scheduling tasks
Contribute to the growth and profitability of the branch
Maintain the standards of the department thus enhancing the image of Hollard
Ensure all technical aspects of administrative functions within the department is adhered to
Maintenance of existing brokers and development of a new broker strategy
Portfolio management
Enhance cross selling opportunities

Key Responsibilities
Sales and Marketing: Visit brokers and accompany sales team members on broker visits, obtain new business from brokers and develop relationships with existing and new brokers. Manage the growth (including organic growth) of the division. Sell Hollard products to brokers and/or agents using consultative selling techniques. Contribute to effective marketing of the Company products by answering questions, resolve problems on topics such as policy status, billing, etc, and explaining new or revised products and processes. Make presentations to brokers and/or agents
Account Management: Meet goals for volume and value of quality new business quoted and written within company guidelines. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business. Service, grow and maintain renewal policies. Confirm rating and cover on endorsements requested Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results. Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control review and discuss all outstanding premiums and arrears with Brokers on a monthly basis
Underwriting/Risk Analysis: Analyze qualitative and quantitative data prepared by brokers to provide approval for risk selection and acceptance, coverage and price. Recommend creative alternatives in regards to rating plans, coverage and payment plans. Decline unsuitable risks. Ensure that policy transactions (quotes, new business, endorsements, renewals post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system. Ensure reinsurance is in place, where applicable
Financial Management: Forecasting, budgeting, budget attainment, cost management etc
Relationship Management: Interact frequently with brokers and/or agents
Networking: Identify prospective customers using established lead methods
Employee growth: Actively engage with sales team on their career development and
training requirements. Take responsibility for your own career growth and have regular
discussions with the relevant role players.

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