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MAIN PURPOSE OF THE JOB
Leading the alignment and implementation of the Sales strategy by identifying opportunities in the market and optimising distribution channels and resource deployment in order to support the overall growth of LBIC and LBLIC. Identify opportunities for profitable top line growth of the LBIC and LBLIC businesses through strategic stakeholder engagement and marketing strategy development by generating new business sales across distribution channels and product lines.
Key Performance Areas
Develop, implement and align Sales strategy and plan to achieve targets including market & competitors research and analysis to inform company strategy and tactical implementation
- Develop, implement and align Sales strategy to achieve the overall business objectives
- Research market trends, opportunities and tactically incorporate into the plan
- Identify geographic locations, broker markets, product gaps to support profitable premium growth
- Monitor progress, make adjustments and reorganise resources to achieve set targets
- Implement robust and consistent Sales reporting mechanisms
Develop Sales frameworks and policies for achievement of targets
- Create frameworks and policies for engagement with intermediaries for regional structures
- Segments market according to areas of focus and sets client visit schedules and plans
- Consult the LBIC and LBLIC strategy to determine the objectives and targets to be achieved
- Implement regional Profit and Loss for example Sales Volumes, Average Premium, Product Mix etc.
- Manage and negotiate sales targets in accordance with budget policies, procedures and legal requirements
- Monitor the sales activities to ensure that targets are achieved, institute corrective steps when targets are not met and maintain achievement of sales targets at all times
- Ensure that reports are compiled and the relevant reports are submitted to the role players within allocated time frames
Management of Stakeholder Relationships
- Identify the relevant role players in accordance with business requirements and dependencies
- Land Bank
- Brokers
- Strategic Partners
- Arrange engagements with strategic role players to identify possible areas of cooperation, improvement and conflict
- Review existing agreements for opportunities for expansion
- Negotiate terms and conditions, commission structures etc.
- Constant stakeholder engagement to ensure smooth running of stakeholder relationship
- Manage relationships in accordance with policies, procedures and legal requirements
Implement effective Marketing initiatives to support Sales growth and performance
- Implement marketing plans in accordance with business strategies
- Develop and implement sales and promotional programmes in support of the business
- Procure and manage sales and promotional items / material for use by the business in sales and promotional initiative
- Proactively seeks brand positioning opportunities
- Determines appropriate communications channels and establish best practices based on latest technologies
- Packaging and branding of products for launch to targeted consumers including White labelling
Distribution strategy
- Researches general industry trends and conducts consultations to determine which products are still relevant, performing best and conditions for success
- Recommend product enhancements and/ new products to service the market demands
- Test product concepts with intermediary market and adjust accordingly
- Select distribution channels best suited to launch products
- Sets parameters, requirements and minimum levels for intermediary product training
- Determine the requirements related to the launching of new/improved products
Departmental and People Management
- Performance Management
- Capacity Planning
- Financial Management
Preferred Minimum Education and Experience
- B Degree in Finance, Accounting, Business Management, Insurance or equivalent
- Post Graduate qualification
- RE 1 Eligible to be appointed as a Key Individual
- RE 5 Eligible to be appointed as a Representative
- 10 years Experience as a Senior Manager in Sales & Distribution in the Insurance sector
Critical Competencies
- Sales
- Distribution
- Marketing
- People Management
- Stakeholder Management: Land Bank, Brokers, UMA, Administrators, Strategic Partners etc.
- Insurance Operations
- Agricultural Insurance Industry
Additional Requirements
- Extensive travel as and when required
- Extended hours as and when required
- Driver’s License (Code 08)