Job Purpose and Key responsibilities
The overall job purpose for the Business Development Manager is to develop profitable General Insurance portfolio through all the channels in Britam Insurance Uganda. This will involve efficient management and development of relationships with brokers, FAs, IFAs ,Unit Managers, ADC, Partners outlets and Regional Service Managers in order to grow Profitable General Insurance Business.
Key Responsibilities:
- Develop and implement business development strategic plan.
- Grow and defend the market share position.
- Develop and execute key growth sales strategies, tactics and action plans and expand customer base.
- Drive ownership of the Product portfolio strategy to ensure quality of business through management of product mix.
- Design and implement appropriate sales incentives to drive targeted sales remediation while ensuring retention of existing business.
- Understand product specific landscapes and trends and determine appropriate distribution channels for each product line.
- Manage the product development, sales and marketing costs to ensure profitability.
- Co-ordinate and support development and innovation of products.
- Design a competitive customer experience for all products in the portfolio.
- Ensure that all product information/ training material is consistent with the propositions of the product.
- Identify and explore new product ideas to support business growth
- Oversee related product impact analysis and make changes to comply with all regulations
- Oversee the recruitment, motivation and retention of an efficient Financial Advisor (sales) team.
- Direct, guide and manage performance and career development of channel managers.
- Manage the volume, portfolio mix and pricing (working together with actuarial and underwriting functions) to ensure that the company runs a profitable general insurance business
- Present an excellent image of the Company
- Monitoring the and management of client portfolios to ensure growth and profitability of the same
- Delegated Authority: As per the approved Delegated Authority Matrix
- Perform any other duties as may be assigned from time to time
- Deliver on performance requirements as defined in the departments’ strategy map, balanced scorecard and Personal Scorecard.
Key Performance Measures:
- As described in your Personal Score Card
Working Relationships
Internal Relationships:
- Work with all departments
External Relationships:
- Britam customers
- Branding companies
Service providers.
Knowledge, experience and qualifications required
Knowledge, Experience and Qualifications required:
- Bachelor’s Degree in a business related field. Master’s degree is an added advantage.
- Professional qualification in Insurance (ACII, CII) or equivalent is an added advantage.
- 8+ years successful relevant experience, 5 of which must be in a management position (financial services sector preferred). Knowledge of the Insurance industry (required)
- Results orientated with the ability to set KPIs and a proven track record of meeting or exceeding targets
- Resilient, dynamic, energetic, and enthusiastic. Must be highly driven and enjoy working with people.
- Able to work with a wide range of internal and external stakeholders and to foster and maintain successful working relationships
- Digital marketing experience, preferably in a related industry
- Ability to communicate, present and influence all levels of the organisation, including executive and C-level.
Essential Competencies: Change Leaders in Britam need to:
- Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit;
- Continuously configure and adapt the functional area to most effectively suite the future view of the business;
- Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change);
- Be in touch with the changing industry, customer needs and international best practice;
- Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues;
- Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimised succession planning;
- Ensure clarity of expectations for individuals in the function and other stakeholders across the group;
- Facilitate functional integration;
- Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business;
- Co-ordinate between functions and divisions to ensure optimisation of the value chain and resources;
- Ensure alignment of strategy, objectives and deliverables within the function;
- Develop innovative partnerships and distribution channels to increase Britam’s market penetration;
- Ensure a seamless experience for clients;
- Appropriately allocate funds and capital to maximise shareholder value;
- Adequately manage operational risk;
- Increase operational efficiency;
- Provide access to accurate and consistent information and services across all channels;
- Improve quality and speed of decision making across the business.
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