Business Development Executive- Medical at PACIS Insurance

JOB PURPOSE:

• To grow the medical insurance book by bringing in new business and sustaining existing business in line with the company's strategic plans.

PRINCIPAL ACCOUNTABILITIES:

Revenue Growth and Profitability:

• Champion and manage business acquisition strategic plan by growing medical revenue in line with the Division's growth strategy through, retention, generic growth, and acquisition of new business.
• Take responsibility for the management of Tender requests and quotations process and ensure TATS are met consistently to establish and maintain a healthy pipeline.
• Provide ease of doing business tools for the retail and SME products to empower intermediaries to quote and bind business in the field with minimal reference to Pacis in line with the underwriting guidelines. Liaise with underwriting to ensure renewal notices go out on time (at least 60 days before renewal date) and follow up to ensure all profitable accounts are retained to achieve companies desired retention rates.
• Liaise with credit control team to provide statements on a monthly basis and ensure adherence to the credit policy.
• Acquiring new and developing existing key strategic partnerships
• Manage agreements with intermediaries and ensure consistent compliance by all parties.
• Use strong negotiation skills, to ensure that the appropriate targets, pricing, and margins are secured for all business development opportunities.
• Collaborating with Management on top line goals, planning, forecasting, and maintaining short and long-term business development plans in line with the medical business strategy.
• Prepare monthly business development reports detailing initiatives, performance, and other related projects/activities.
• Ensure top-notch customer experience is provided to all business partners.

Relationship Management:

• Establish and maintain professional relationships through networking with intermediaries
• Host regular and relevant functions (as agreed with line management) to seek opportunities to develop strong relationships and business bonds.
• Share submissions and hit ratios on a quarterly basis to make them aware of positive or negative trends.
• Manage the process of declining quotes to ensure we do not damage relationships.
• Implement a structured intermediary visits plan where Tier 1 and top Tier 2-3 intermediaries are visited on a weekly basis and maintain report Implement a training plan for the intermediaries.

Market Intelligence:

• Collect market intelligence through research by reading articles, publications, internet, word of mouth and networking daily to keep abreast of market developments.
• Assess market opportunities with respect to competitor sales sources by

RELATIONSHIPS:

• Position Reporting to Job Holder: Asst. Business Development Manager- Medical Business

Other Contacts:
Within the Company:

• Business Development teams
• Medical Underwriting
• Medical claims & Case management d. Finance

Outside the Company:

• Clients
• Intermediaries

KNOWLEDGE AND EXPERIENCE (Qualifications)
Minimum Academic Qualifications

• Bachelor's degree in Business related course (Insurance Option, Marketing, Business administration and Finance) or equivalent from recognized university.

Professional Qualifications

• Proof of study in ACII, AIIK will be an advantage.

Experience:

• Five (5) years 'Insurance experience with at least two (2) years in medical sales.

Knowledge

• Understanding of Insurance industry

SKILLS AND COMPETENCIES.

• Visionary and strategic.
• Excellent negotiation & persuasion skills. Tenacious and resilient.
• Good networking and interpersonal skills.
• Excellent oral and written communication skills.
• Able to work with minimum supervision.
• Leadership skills to manage a channel and deliver results. Service mindset & Attitude.
• Problem solving aptitude.
• Ability to self-start, work independently.
• Time Management - Ability to prioritize & manage workload. Change Leader - operational and personal change.
• Proven ability to drive results though accountability.