Vacancy title:
Group Business Officer

Jobs at:

Deadline of this Job:
Saturday, June 22 2024 

Summary
Date Posted: Tuesday, June 18 2024, Base Salary: Not Disclosed

JOB DETAILS:
Prudential is one of the world’s oldest, largest and strongest insurance companies. We have been helping people plan and protect their families’ futures for more than 169 years.

Role Context
• The Group Business Officer will be the key business development officer for our group business, acting as a liaison between PLAK and its corporate business partners – Agents, Brokers, Alternative Channels and Direct customers. Reporting to the Head of Corporate Business, the objective of the role will be achieved through partner and channel leadership - recruitment, training, coaching and retention of our partners and their respective business. This will also include meeting set targets annually and driving results through activity management, reward & recognition programs and building strong relationships with the partners. The role will also be responsible for the delivery of excellent service to business partners and where need be - act as the liaison office between intermediaries and other departments in PLAK for enquiries, quotations, claims and other administrative services offered to partner institutions. In order to achieve the set business targets, we are looking for a seasoned professional with high interpersonal & networking skills, integrity, professionalism and a team player to support the business in meeting its growth objectives.

Principal Accountabilities
Relationship Management
• Identify and develop partnerships with new and existing intermediaries and alternative channels to achieve set production targets.
• Identify and undertake training and fulfilment of identified gaps to be addressed within partner organizations, through development of a structured and scheduled training program in order to sensitize partners on PLAK’s new and existing products and policies.
• Develop and maintain a good working relationship with internal stakeholders including back-office support staff such as the New Business team, Premium Administration team, Policy Administration team and Finance team to ensure seamless processing of proposals/client requests and prompt commission payment to the partners.
• Be the key point resource between PLAK and the business Partners in accordance with the PLAK’s confidential policy. Make the requisite follow up internally to ensure excellent service delivery to partner organizations.

Driving of Sales
Provide strong leadership in the development of the business so as to support the achievement of the department’s business development objectives, ensuring delivery and maintenance of highest standard of customer service and marketing of the company products through:
• Development of the group business strategy and business plan with the required action plan to be tracked for success.
• Participate in business planning, budget setting and the achievement of business plans.
• Identification of new business leads, liaison with partners, maintenance of sales funnel and continuous follow up of prospects (negotiations) to ensure high quotation conversion rates.
• Ensure the development, tracking and reporting of a well-documented activity plan.
• Manage and monitor partner production targets by business channel and take required action timeously.
• Manage the partner business pipeline process.
• Ensure that business partners have up to date product knowledge about PLAK’s products.
• Managing business renewal retention through partners to achieve set renewal targets.
• Ensure efficient management of new business on-boarding and the required turn around for tender business.

Product Development:
• Identify product development needs of the partners and their clients and communicate with relevant internal stakeholders, driving the product development process from end to end.
• In instances where the partner organization develops the product concept, ensure that internal stakeholders are involved in reviewing and re-developing the product to ensure the Partner receives adequate feedback and value addition from PLAK.
• Conducting market research, analyzing business trends in the market and providing market intelligence to the Head of Corporate Business for key business decisions for sustainable growth of the business.

Loyalty program
• Identify the motivations of partners and develop a partner value proposition and subsequent loyalty program for all business partners to drive business growth.
• Launch the loyalty program in conjunction with internal stakeholders and the participating partners.
• Responsible for driving/execution of the loyalty program, providing monthly & quarterly communication in order to drive required production.
Collections Management
• Follow up on premium payments from partners to ensure that premiums are paid timeously, and subsequent commissions paid to partners.
• Micro-finance/ SACCO Relationships
• Create business relationships with microfinance institutions and SACCOs aimed at growing the business and enhancing premium income in line with the agreed business targets.

Core Competencies and Skills:
• At least 5 years of relevant experience
• Excellent communication skills
• Interpersonal and coaching skills and the ability to develop relationships, partnerships, and work collaboratively.
• Proactive - demonstrated capability to manage own performance effectively, planning and organizing own time and priorities to achieve business results without substantial supervision.
• Produces results; directs action toward achieving key business goals that are critical to company’s success.
• Knowledge of, or ability to learn insurance products.
• Knowledge of compliance regulations and policies and ability to apply procedures
• Strong reporting skills
• Technical knowledge in life Insurance or work experience in life Insurance Sales will be an added advantage.

Qualifications Required:
• Bachelor’s degree in business or related fields.
• Minimum of 3 years’ experience in business development in the financial services industry.
• A general knowledge and understanding of insurance, as well as legislation, rules and regulations impacting the insurance industry.
• Excellent computer skills in MS Office suite.
• Demonstrable ability to communicate effectively, verbally and in writing, to clearly express logically reasoned ideas. Ability to think clearly and assess matters quickly and to solve problems on short notice.
• Ability to make/take calculated decisions and to think forward and act accordingly.
• Ability to positively influence Senior and Executive Management.

Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure

We encourage candidates with the above requirements to send their applications to pruhr@prudentiallife.co.ke  by 22nd June 2024. We will however review the applications as we receive them. This process is to build a talent pool to support our business needs. Only shortlisted candidates will be contacted.



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