Madison Life Assurance Kenya Limited, a subsidiary of Madison Group Limited, is a well-known provider of life assurance, group schemes and pension administration in Kenya. The Group also provides through two other subsidiaries, general insurance underwriting as well as fund management services.
The Company is recruiting for the position of Assistant Manager Business Development – Intermediary Management reporting to the Head of Group Business. The job holder will be based at its Head Office in Madison House, Nairobi.
Key Responsibilities
- Develop and implement a strategic business development plan to expand the organization’s market presence and achieve business development targets and revenue growth.
- Identify and engage potential clients within the Corporate business sector, leveraging existing networks and developing new leads.
- Build and maintain strong relationships with key clients, understanding their needs and providing tailored solutions.
- Oversee the development of client presentations, negotiations, and proposal development to secure new business opportunities.
- Provide training, support, and marketing materials to intermediaries to promote the organization’s Corporate business products and services.
- Identify cross-selling and upselling opportunities within existing client portfolios.
- Collaborate with product development teams to identify and develop new offerings that align with client needs.
- Monitor sales performance, track progress against targets, and provide regular reports to the management team.
- Collaborate with intermediaries to identify joint business opportunities and develop mutually beneficial partnerships.
- Onboarding of intermediaries (independent, brokers, and strategic partners) new saccos, MFI’S business.
- Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects.
- Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
- Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
- Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
- Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
- Embrace governance requirements with respect to KYC/AML/Data protection requirements per governing Acts.
Academic and Professional Qualifications required
- Bachelor’s degree in Insurance or any other business-related field.
- At least Five (5) years’ experience in the insurance industry, with demonstrated success in insurance sales, business development and managing client relations.
- Professional qualifications in IIK, CII or CIM.
- Masters’ will be an added advantage.
Key Competencies
- Business Development Acumen: Strong understanding of business development principles, strategies, and tactics within the corporate life sector.
- Proven track record in retention and converting new business opportunities.
- Relationship Building: Excellent interpersonal skills to build and maintain strong relationships with internal & external clients, intermediaries and strategic partners.
- Strategic Thinking. A strategic mindset with the ability to analyse market trends, competitor activities and regulatory changes to identify strategic business opportunities and risks.
- Proficiency in conducting market research and analysis to identify target markets, customer segments, and industry trends.
- Excellent verbal and written communication skills, including the ability to deliver engaging presentations, negotiate contracts and articulate complex concepts to clients and stakeholders.
- Has a results-driven mindset with a focus on achieving business development targets and driving revenue growth.
- Sound financial knowledge, including an understanding of corporate life products, pricing strategies and financial metrics.
- Knowledge of underwriting processes, procedures and concepts