Business Development

4 days ago

Lagos, Lagos, Nigeria Banksome Group of Companies Full time

Job Description

  • We are seeking a sales-drivenprofessional to join our team. The incumbent will also act as the Principal Officer This is an exciting role which will enable you make this role your own, leading from the front and creating a positive impact on the business and market.We want you to bring your value and knowledgeto extend us into new opportunities.

Job Summary

  • You are responsible for attaining the company's growth and expansion, articulating new business development opportunities. Develop and maintain good relationships with clients andinsurers.
  • The person will be responsibleforthe company's operations which includes Sales, Underwriting, Claims Management, Staff Management, operational processes/systems, and aggressivemarketing.

Job Responsibilities
Business Development:

  • To drive business growth, increasing revenue, business expansion and increasing profitability.
  • Build strategic partnerships by developing and maintaining good working relationships with clients and insurers
  • Drive sales and marketing and increasing brand awareness.
  • Developing marketing strategies to compete with other brokers, individuals or companies who sell insurance.
  • Selling various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policiessuch as marine, farm/ crop etc.
  • Attending meetings, seminars and programs to learn about new products and services,learning newskills and receiving technical assistance in developing new accounts.
  • Customizinginsurance programmers to suit individual customers, often covering a variety of risks.
  • Obtainingpolicy holders todeliver and explain policy,analyses insurance programs and suggest additionsor changes, or to change beneficiaries.
  • Selecting companies that offer the type of coverage requested by the client to underwrite policy.

Strategic Planning:

  • Developingthe strategy, tactics, sales plans and profit targets; identifying and reporting on business opportunities in target markets and various stakeholder engagements.
  • Ability to think strategically and create new opportunities, as well as the operational understanding to ensure delivery of those opportunities to the benefit of the company.
  • Set and drive a high-performance culture.
  • Develop, align and implement strategic direction.
  • Developing and implementing short-term and long-term goalsfor sales.
  • Overall responsibility for developing, managing and implementing competitive sales and marketing strategies.
  • Developing and executing a strategic plan to achieve sales targets and expand our customer base.
  • Establish, maintain and follow-up on current client and personal client relationships; build client loyalty, obtain referrals and manage client database
  • Explaining features, advantages and disadvantages of various policies to promote the sale ofinsurance plans.

Operations:

  • The principal officer will be responsible for regulatory, compliance and licensing requirements for the area of operation as well as business development responsibility for existing areas including Broker Direct and Referral partners.
  • Responsible for the relationships with Brokers, Referral, and other business partners.
  • Ensure effective and efficient management of underwriting and claims units in the organization.
  • Participates in the development and implementation of the Department of Underwriting plans, in line with the corporate objectives.
  • Managing overall operations in an insurance brokerage setting.
  • Ensuring that policy requirements are fulfilled, including any necessary medical examinations and completionof appropriate forms.
  • Monitoring claims to ensure they are settled equitably for both the client and the insurer.
  • Performing administrative tasks, such as collecting premiums, maintaining records and handling policy renewals.
  • Ensuring the department remains proactive and responsive to prospective clients.
  • Develop, recommend, implement, and interpret client service procedures; evaluate the ongoing effectiveness of current operations and system.
  • Coordinate activities with other internal units as required to meet customer needs.
  • Address unusual or difficult inquiries/situations through direct personal action or refers to the appropriate individuals.
  • Ensure customer complaints are identified and recorded and addressed.
  • Participate in Client review meetings, external audit feedback sessions and new business tender processes.
  • Work towards agreed budgeted revenue and costs.
  • Lead the management of relationships with industry associations and regulators.
  • Creating and implementing policies that allow your insurance company to function as a cohesive unit.
  • Reviewing company performance to identify areas where individual employees and entire departments can improve their efficiency.
  • Identifying and minimizing threats as part of ongoing risk management responsibilities.
  • Managing collected data and creating user-friendly reports that can help executives identify company progress, regression, and any fluctuations in output.
  • Continually reviewing insurance policies to confirm that policyholder needs are best addressed.
  • Managing any claims investigations.

Qualifications, Competencies and Attributes

  • Hold a BSc / HND in Business Management / Insurance
  • Must have minimum of six 6 years of experience inan Insurance Company or BrokerFirm with a proven result-oriented track record.
  • The Principal Officer must be a certified/chartered insurance broker.
  • Minimum of 6-8years' experienceat a Middle Management level in a business development and/or Sales related role.
  • Insurance sales and underwriting experience
  • Risk management skills
  • Negotiation skills
  • Personality: A go-getter, enthusiastic, and results-oriented with excellent communication and social skills.
  • A self-starter who is able to work with minimal or no supervision
  • Computer skills: Must be digitally proficient and familiar with applicable digital tools.
  • Honest and with high integrity
  • Analytical and numeric skills inclusive of Financial Management, Accounting and Reportingis an added advantage.
  • Advance knowledge of short-term insurance products
  • Drives results
  • Deciding and initiating action
  • Flexibilityand adaptability
  • Customer service orientated

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