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Head of Business Development – BMI – (2500000H)
Job Purpose and Key responsibilities
Job Purpose:
Reporting to the Britam Microinsurance (BMI) CEO, the role holder will be responsible for expanding market presence, developing new distribution channels & diversifying product portfolio to reach SMEs & other underserved customer groups with an aim of growing the revenue and number of customers within the emerging consumer segment.
Key responsibilities:
- Strategic Planning: Develop and implement comprehensive business development strategies to achieve company objectives in the micro-insurance market segment.
- Profitable growth: Drive performance and profitability of the segment by monitoring productivity, profitability and loss ratios against set targets.
- Market Expansion: Identify and pursue new business opportunities to expand market share and increase revenue streams.
- Channel Diversification: Development of new distribution channels such as Micro advisors & digital channels to complement the traditional sales channels i.e. Financial Advisors, Independent Financial Advisors and Broking.
- Product Innovation & diversification: Work closely with the product development team to conceptualize and launch innovative micro-insurance products tailored to customer needs.
- Sales and Marketing: Lead the sales and marketing efforts, including overseeing promotional activities, customer acquisition strategies, and brand positioning in the micro-insurance market.
- Relationship Management: Manages relationships with the segment clients and intermediaries.
- Team Leadership: Build and mentor a high-performing business development team, fostering a culture of accountability, trust, agility and customer centricity.
- Ensures marketing intelligence and statistics are gathered to facilitate development of strategies to give the company a competitive advantage to the segment.
- Manage sales costs to ensure profitability.
- Ensure the credit policy for the company is adhered to.
Knowledge, experience and qualifications required
Knowledge, experience and qualifications required:
- Bachelor’s degree in a business-related field. Masters’ Degree is an added advantage.
- Professional certification in insurance e.g. ACII, FLMI, AIIK.
- 7- 10 years’ experience in a Financial Institution preferably Insurance; 3-4 of which should have been in managerial sales role.
- Knowledge of insurance regulatory requirements.
- Experience in Sales and Marketing and Channel Development and Strategy development, channel development and Sales & Marketing.
- Must have overseen the development and driven a new route to market strategy for Insurance products.
- A demonstrated track record with proven multi-channel revenue results in revenue growth initiatives.
- Significant experience in stakeholder management and working with various teams to ensure collaboration and execution excellence.
