Insurance Business Development Manager

Insurance Business Development Manager

Job Title: Insurance Business Development Manager
Location: Western Cape
Salary: 900000.00
Reference: JN -102016-6865
Job Published: January 09, 2017 05:08

Job Description

The ideal candidate for this role will manage the recently established and rapidly expanding insurance business and engage with marketing, finance and operations teams to craft the business plan and grow the insurance portfolio. The role is within the financial services business, reporting to the CEO and also services the insurance products within retail business.  

Key Performance Areas (KPAS)
Oversee business development function
  • Define current and future business processes and products through the interaction with the marketing, ICT and operations departments
  • Define and establish best practice methodologies, map and document business processes to identify and implement changes to achieve operational efficiencies within the business
  • Leverage the existing systems to automate and manage processes
  • Create and embed best practice product development methods and processes
  • Stay actively involved with the product development lifecycle and be responsible to drive the start-to-finish implementation of solution
  • Oversee campaigns and sales interventions in line with opportunities, available resources, product scope and best practices  
  • Assist with the design and development of fit-for-purpose marketing material to ultimately market and position these insurance products  
  • Develop and deliver on the required operational, marketing and other business reporting needed to track the business as guided by management
  • Drive profitability and growth within area of responsibility
  • Monitor the quality, cost and efficiency of the insurance products and put necessary controls and procedures in place to identify trends
  • Introduce and maintain product performance measurements through sales analysis, customer satisfaction and survey feedback
  • Assume the role of product owner for all projects within this role
Manage the implementation of strategy
  • Ensure all marketing and communications plans have an integrated approach to the overall business’ strategic objectives
  • Assist with the overall process of management decision-making to ensure the business maximises its short, medium and long-term profits and targets
  • Support the business plan and identify and drive marketing opportunities with defined ROI targets whilst keeping abreast of risks, new trends and developments likely to affect the forecast
  • Maintain awareness of external influences such as legislation, compliance and market trends, and communicate accordingly to maintain efficiencies and to meet targets
  • Manage compliance partner relationship and fulfil all compliance requirements for the business and as required as the Key Individual.
  • Research and contribute to the optimal insurance products for the Group to meet and excel on revenue targets
  • Drive innovation within the insurance business
  • Translate strategy into relevant service standards and processes, setting, communicating and measuring the corresponding operational measures and targets
  • Maintain working knowledge of all products, services and solutions offered by the insurance business and its competitors in order to match prospective customer needs within our product offerings
Financial and budget management
  • Ensure that new business budgets are met as well as contribute to the overall company strategy moving forward
  • Calculate total cost in relation to new products, and make recommendations to the business to ensure efficiencies and on-going cost reductions are implemented
  • Adhere to all financial requirements and ensure cost efficiency
  • Assist with generating and maintaining a budget for the insurance business
Reporting and analysis
  • Conduct extensive market research and analysis and define market penetration opportunities with solutions and present to management
  • Assist with the compilation of standard daily, weekly and monthly reports according to business needs and requirements timeously
  • Actively research and report on the achievement of new business acquisition targets as well as industry performance and trends 
  • Generate ad hoc reports through data mining analysis to provide management with key statistics and trends identified and provide recommendations
Qualifications & Accreditations
  • Business / Marketing / Finance / Engineering Degree or equivalent tertiary qualification
  • FAIS Compliant - Key Indiviual RE 1 non negotiable
  • Appropriate Insurance Qualification will be an added advantage
 Experience & Skills
  • A minimum of 3 to 5 years’ experience and a proven track record in product management, project management and /or business development
  • A minimum of 3 years working experience in the insurance market
  • Excellent project management, process flow and business mapping / business specification writing skills
  • Microsoft Excel skills essential
  • Retail and /or contact centre and /or direct marketing experience will be and added advantage
  • Exposure to selling products through online channels will be an added advantage 

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