Business Acquisition Specialist
Job Summary
The purpose of the position is to strengthen business acquisition through competitive pricing of life businesses in order to on board and retain more business. The role works with Administrators, Brokers and Independent Agencies as well as direct clients, through relationship building and timely support.
Key Responsibilities
- To understand and fulfil clients’ needs through products understanding and making recommendations to the sales team on business acquisition opportunities.
- To ensure a culture of effective and efficient service delivery to customers within Group Life team to ensure customer retention and satisfaction.
- To provide technical support to Group Life Schemes distribution channels to enhance business acquisitions to meet organizational growth objectives.
- To support the business development team in preparing tender documents and aligning
- To ensure smooth on boarding of new business (documentations).
- To implement the credit control policy within Group Life Schemes to ensure revenue collection.
- To effectively improve the risk exposure to deliver greater shareholder value within set limits.
- To maintain and promote effective internal and external stakeholder relationships.
- To provide relevant and accurate management information to all relevant stakeholders in order to support business growth objectives.
- To concentrate on all lines of business: Brokers, Agents, Direct, and Affinity by providing quotes.
- To gather market intelligence, to issue quotes and make sure they are competitive and to follow up prospects for closure.
- To carry out member education and training of our products to intermediaries, prospects and existing clients.
- To organise for a reward programme and bonding sessions.
- To enhance cross-selling across GLA clients and achieve organic growth in the existing GLA portfolio
- Reduction of loss ratios via prudent pricing at inception and renewal
- Maintaining a database that enables business evaluate trends in the market
- Preparation/review of monthly reports required by internal clients, finance and actuarial team.
- Analysing and updating contracts related to group risk schemes among them; review of treaties, recommend for amendments/endorsements and review of treaty effect on the business.
Qualifications
- Bachelor’s degree in insurance or a business-related field
- Professional qualification in Insurance (LOMA, ACII, AIIK)
Experience
- At least 3 years’ experience in the insurance industry
Competencies
- In depth understanding of life insurance operations and concepts
- Knowledge of insurance regulatory requirements and procedures
- Understanding of Business acquisition processes.
- Knowledge of underwriting and claims procedures
- Customer service skills
- Ability to prioritize tasks and manage time efficiently
- Excellent organizational and stakeholder management skills
- Solutions focused mindset
- Knowledgeable in financial solutions and market trends
- Business acumen