Business Development Officer - Corporate Life at Old Mutual Kenya

Business Development Officer - Corporate Life at Old Mutual Kenya | Iko Kazi

Job Description

The business Development Officer will drive profitable growth across the corporate insurance portfolio through new business acquisition, strategic account development, and strong broker and intermediary partnerships.
The role will focus on identifying and converting corporate opportunities, developing a sustainable sales pipeline, leveraging multinational business opportunities, and delivering an exceptional client experience across the sales lifecycle.
The ideal candidate is a mid-level sales professional with demonstrable experience in corporate insurance sales, new business development, pipeline management, and target delivery. Experience in Group Life, Group Credit Life, Employee Benefits, or related corporate insurance products is highly desirable, alongside a proven ability to build relationships with corporate clients, brokers, and intermediaries.

KEY TASKS AND RESPONSIBILITIES

Business Delivery & Growth

Deliver the approved annual budget for Group Life, Group Credit Life, Group Last Expense and Group Critical Illness
Drive new business and growth from existing accounts through proactive prospecting, client engagement, cross-selling and up-selling
Develop and maintain a healthy sales pipeline and actively pursue opportunities to achieve and exceed agreed sales targets
Identify new markets, customer segments and business opportunities that can contribute to portfolio growth
Leverage the organisation's strategy, networks and existing relationships to identify and develop corporate business opportunities
Identify multinational companies and locally based subsidiaries that may benefit from regional or international insurance solutions
Support the development and placement of private and public sector business opportunities in collaboration with relevant internal and external stakeholders

Business Development & Proposal Management

Identify and develop prospective corporate clients through targeted business development activities and market engagement
Understand customer and intermediary needs and coordinate the development of appropriate insurance solutions
Ensure quotations and proposals are delivered accurately and within agreed timelines
Follow up on proposals submitted, obtain feedback and proactively address client or intermediary requirements to improve conversion
Maintain accurate and up-to-date records of opportunities, activities and prospects through the CRM system
Analyse lost opportunities and provide feedback to improve future business conversion

Market Intelligence

Gather market intelligence on customer needs, competitor activity, pricing, product developments and emerging trends within the corporate insurance market
Monitor competitor activity and provide timely feedback on opportunities and potential threats
Share market insights that can support improvements to products, pricing, service delivery and customer value propositions
Maintain an understanding of market developments to ensure business opportunities are identified proactively

Client & Intermediary Relationship Management

Build and maintain effective relationships with corporate clients, prospects, brokers, agents and other business partners
Conduct regular client and intermediary engagements to understand needs, strengthen relationships and identify opportunities for business growth
Support the management of key accounts and ensure agreed service requirements are followed through
Address client and intermediary queries promptly and coordinate with relevant internal teams to ensure timely resolution
Support retention and growth of existing business through proactive account engagement and service

Distribution & Channel Development

Support the expansion of corporate business through the acquisition and development of new intermediaries and distribution partners
Maintain productive relationships with existing intermediaries and identify opportunities to increase business volumes and wallet share
Support channel initiatives, campaigns and business development activities aimed at generating new business
Provide feedback on intermediary needs and market dynamics to inform distribution initiatives

Credit Control & Client Service

Support effective credit control and timely premium collection across the assigned portfolio.
Follow up with clients and intermediaries on outstanding premiums and escalate aged or problematic accounts appropriately.
Coordinate with internal teams to ensure timely issuance of policy documentation, reconciliations, premium processing and other requirements that support collection.

Reporting, CRM & Performance Management

Maintain accurate, timely and quality records of sales activities, prospects, proposals, conversions, renewals and client engagements
Prepare regular sales, pipeline and business development reports as required
Monitor individual performance against agreed targets and take appropriate action to improve performance
Use CRM and other business tools effectively to manage the sales cycle from prospecting and needs identification through to acquisition, account servicing and retention

SKILLS AND COMPETENCIES

KNOWLEDGE & EXPERIENCE

At least 5 years' relevant experience in business development, sales or account management, preferably within the insurance or financial services sector
Experience in Group Life, Group Credit Life, employee benefits or other corporate insurance products is preferred
Experience working with brokers, intermediaries and corporate clients
Demonstrable experience in new business acquisition, pipeline management and achieving sales targets

QUALIFICATIONS

Bachelor's degree in Business Administration, Commerce, Marketing, Insurance, Economics, Finance, Actuarial Science or a related field
Professional qualification in Insurance (e.g., ACII, IIK) or progress towards a recognised insurance qualification will be an added advantage
Professional qualification in Sales or Marketing will be an added advantage

KEY RESULT AREAS & PERFORMANCE INDICATORS

Meeting set revenue targets measured periodically
Timely delivery of proposals and quotations
The amounts of new revenue placed through targeted distribution channel partners.
Debtor days for Distribution Channel partners
Expense controls for Profitability of accounts placed
The number of suggested new solutions to clients and distribution channel partners

Stand out to recruiters