Broker Consultant - Port Elizabeth at Sanlam Group

Purpose

• The main purpose of this position is to support the group sales strategy and business plan by growing and retaining allocated broker portfolio business through dynamic customer relationship management that ensures customer loyalty, grow intermediaries base, and, grow new profitable direct group business within the target markets to achieve desired targets.  

Formal Qualifications

• NQF 5 qualification/ 3-year relevant tertiary qualification.
• 30 FAIS Credits if DOFA date is prior to 2010 or alternatively full FAIS recognized relevant qualification (DOFA dependent).
• Regulatory Examinations (RE5) for representatives preferred and an advantage

Working Requirements and Knowledge

• Product Specific training in Category 1 life and friendly societies.
• Excellent knowledge and understanding of insurance legislation and regulations.
• Computer Literacy (MS Office package).
• Valid driver’s license and own vehicle.
• Knowledge of underwriting processes.
• Minimum of three (3) years’ experience in the group risk market.
• Established relationships in either trade unions, funeral parlours, corporate, agricultural, mining, retail, government, or any other large group insurance market.
• Experience in establishing contacts and relationships with decision makers within group business.
• Proven Sales track record of business >R30m APE individual Group business. To evidence on hand prospecting business at quote stage

Key Responsibilities

• Product knowledge and competitor intelligence on intermediary value offering, product, service, and industry developments.
• Keep up to date and fully informed on product comparisons with opposition products.
• Establish and maintain business relationships to grow market share including cross sell with existing brokers.
• Initiate and manage marketing drives to secure profitable, quality new business from brokers.
• Ensure compliance related and insurance specific knowledge sharing for brokers.
• Ensure that customer queries are used as a mechanism to improve customer service and business processes.
• Develop the Broker portfolio, and effectively onboard new brokers
• Participating in proactive sales and marketing initiatives.
• Dealing with queries and providing information on a range of sales and service issues.
• Prepare and deliver clear, thoughtful, and concise presentations .
• Ensure that rate reviews are done for clients in own portfolio; training intermediaries on Safrican products.
• Assist with and track larger renewals, and cancellations within portfolio, to ensure a high retention rate of business.

Behavioural Competencies, Skills and attributes

• Ability to work under pressure to meet targets and drive results.
• Business Acumen and entrepreneurial mindset
• Excellent Relationship management, negotiation and presentation skills
• Good planning and organizing
• Collaboration; Impact and Influence
• Self-Awareness and Insight
• Diversity and Inclusiveness

Key Performance Metrics

• Actuarial health of assigned broker and direct portfolio.
• Value of growth and new sales for assigned broker portfolio.
• Average underwriting rates for new sales (assessing quality of the new customer book)
• Quality Broker and scheme retention (vs lapse rate) for assigned brokers.
• Broker product knowledge and accreditation
• Customer satisfaction and NPS