Senior Officer – Business Development at

1 month ago

Nairobi, Nairobi Area, Kenya Jubilee Insurance Full time
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937.

Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, general and Medical insurance.

Job Ref. No. JLIL207

Role Purpose


The role holder is responsible for driving business growth i.e., within the Retail Pensions products, identifying new opportunities and fostering client relationships within the retail life and pensions sector.

This role focuses on expanding the organization's market presence, increasing revenue, and achieving business development targets in full compliance with the laid down procedures and guidelines as set out in the operations manuals.

The role holder also plays a crucial role in managing relationships with Intermediaries (Bank partners, Brokers and Agents).
Main Responsibilities

Strategy

With the guidance of the Head of Department, oversee the execution of the strategic business development plan to expand the organization's market presence.

Optimization of departmental processes, systems, and resources to drive efficiency and profitability.
Conduct market research to identify potential clients, market trends, and competitive landscape.
Analyse market data to identify business opportunities and develop targeted strategies.
Monitor industry developments, regulatory changes, and emerging trends affecting retail life and pensions.
Provide insights and recommendations to senior management on product development, pricing strategies, and market positioning.

Operational

Marketing & Branding:
Prepare and disseminate materials essential to facilitate onboarding of clients.
Implement training of bank employees.
Promote the Jubilee Life brand to ensure it is top of mind to intermediaries.

Client Acquisition and Relationship Management:
Identify and engage potential clients within the retail life and pensions sector.
Build and maintain strong relationships with key clients, understanding their needs and providing tailored solutions.
Conduct client presentations, negotiations, and proposal development to secure new business opportunities.

Collaborate with internal stakeholders to ensure seamless onboarding of new clients and effective handover to the account management team.


Business Growth and Revenue Generation:
Develop and implement strategies to achieve business development targets and revenue growth.
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 management.

Relationship Management with Intermediaries and Partners:
Develop and maintain relationships with intermediaries, brokers, and strategic partners.
Collaborate with intermediaries to identify joint business opportunities and develop mutually beneficial partnerships.

Provide training, support, and marketing materials to intermediaries to promote the organization's retail life and pensions products and services.


Proposal Development and Contract Negotiation:
Prepare and present compelling proposals and business cases to potential clients.
Negotiate terms and conditions, pricing, and contractual agreements to secure new business.
Collaborate with legal and compliance teams to ensure contracts adhere to regulatory requirements and internal policies.

Corporate Governance

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.

Leadership & Culture

Fostering a corporate culture that promotes ethical practices and good retail citizenship while maintaining a conducive work environment.
Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.

Individualized Development Planning:
Create personalized development plans that align with your career aspirations and the organization's objectives.

Requirements
Key Competencies

Business development and sales acumen.
Strong networking and relationship-building skills.
Market research and analysis.
Client acquisition and account management.
Excellent communication and presentation skills.
Results-oriented with a focus on achieving targets.
Ability to collaborate effectively with cross-functional teams.
Strong organizational and project management skills.

Qualifications

Bachelor's degree in Insurance, Finance, Business, Marketing or any other related course
Diploma in Insurance
LOMA/CII/IIK Qualification will be an added advantage.

Relevant Experience

Minimum 4-6 years' experience in a similar role

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