Business Development Manager – Corporate Business at CIC Insurance

PURPOSE:

Reporting to the Head – Corporate Business, the role holder will be responsible for leading a team of sales professionals in generating revenue through the growth of corporate products. The primary focus will be on developing and implementing strategic sales plans to meet and exceed sales targets, while also fostering strong relationships with Direct clients, Broker and Agency Distribution Channel to ensure client retention and satisfaction.

PRIMARY RESPONSIBILITIES:

• Targets: Effectively manage the Direct client, Broker and Agency Distribution Channel to increase the number of distribution channel partners, attain products revenue targets, collect premium, promote cross-marketing activities, and ensure profitability
• Successfully coordinate the Distribution Channel Incentive Programs to drive Client retention, geographic product distribution, achieve revenue targets and appropriate product portfolio mix
• Leadership: Strengthen the leadership at Corporate Sales team through recruitment and retention of high caliber Corporate Sales Officers. Drive the performance of the Corporate Sales team by keeping abreast of market competition, industry practices and best practices to constantly improve on overall business performance and to ensure the department remains profitable;
• Stakeholder Management: Build and maintain strong relationships with key decision-makers and stakeholders within the Broker and Agency Distribution Channel.
• Performance Management: Lead the sales team and ensure alignment to the business goals and objectives through undertaking periodic reporting of sales performance and monitoring of the P&L. Ensure performance appraisals are undertaken in a timely manner;
• Strategic Planning: Develop and implement sales strategic plans and occasionally review them in line with the overall business plan to ensure achievement of the sales revenue budget
• Market Share growth: Proactively seek out new markets and creatively penetrate them through offering unique product and value propositions. Defend the market share through constant engagement with the market to understand gaps and competitor activities that can be leveraged on and for competitive position of the brand respectively;
• Support Head – Corporate Business in developing Pension, Group Life and Annuity business proposals, quotations, policy documents & Service Level Agreement/ Administrator’s agreement & brochures;
• Formulate and ensure distribution of communication and business presentations to assigned client portfolio as shall be required from time to time i.e., Industry updates and company briefs
• Support Head – Corporate Business in day today departmental administrative duties;
• Monitor sales performance metrics and KPIs, and provide regular reports to senior management on sales activities, achievements, and challenges.
• Any other relevant duties as assigned from time to time.

GENERIC DUTIES

• Conduct performance appraisal of direct reports

Key Skills, Knowledge, Experience and Behavioural Competencies
Academic and Professional Requirements

• Education    Bachelor’s Degree    Bachelor’s Degree in Business, Insurance, Actuarial, Statistics/Mathematics.
• Professional Qualification    Professional certification in AIIK, FLMI or ACII is desirable.

 Experience Required:

• Experience in business development    6years