Business Development Officer, IPMI Jobs at Jubilee Insurance
Job Ref. No: JHIL122
Role Purpose
We're seeking a savvy Business Development Officer - IPMI who possesses a comprehensive understanding of health insurance industry, particularly within international private medical insurance to drive rapid client growth and maintain portfolio management. You will cultivate and expand existing intermediary/client relationships, identify, and capitalize on growth opportunities, and ensure seamless client and product servicing, exceeding expectations and providing operational excellence.
Key Responsibilities
- Drive portfolio retention and revenue growth by offering the full range of Jubilee Health insurance solutions. Achieve this through customer-centric strategies.
- Nurture excellent relations with intermediaries and other distribution channels through regular contact to facilitate a steady inflow of business and cost-effective client management.
- Facilitate timely preparation of new business quotations and presentations, and closely follow up to convert them into business.
- Manage insurance processing and contracting, Customer support, contract administration, and enrolment and eligibility.
- Participate in the annual review process of insurance policies and make recommendations on renewal proposal.
- Conduct market research and consistently monitor and provide Insurance market intelligence and identify potential for both business acquisition and strategic planning.
- Conceptualize new initiatives for increasing sales and top-of-mind recall amongst potential clients.
- Identify marketing opportunities by studying client's requirements; defining market, competitor's share, and competitor's strengths and weaknesses; forecasting projected business; establishing targeted market share.
- Creating a database on prospective clients. Maintaining constant touch with them by identifying key stakeholders and decision-makers
- Generate weekly/ monthly/ quarterly / annual business reports in accordance with agreed key performance indicators as well as IPMI Market research.
- Sustain rapport with key accounts by making periodic visits; exploring specific needs; and anticipating new opportunities.
- Build and maintain cohesive relations with team members, product specialists, departments, and colleagues of Jubilee Health Insurance.
- Ensure all work carried out is conducted in accordance with the company values, compliance and regulatory policies.
- Ensure quality standards set are adequately followed within the area of operations under your profile.
Key Skills and Competencies
- Health Insurance Expertise
- Market Knowledge within the international health insurance market, including emerging trends, competitor products, and market segmentation.
- Sales and Business Development Skills
- Capability to build and maintain strong relationships with key stakeholders, including clients, brokers, underwriters, and internal teams, to ensure customer satisfaction and retention
- Strong verbal and written communication skills to effectively convey the value proposition of IPMI products, negotiate terms, and deliver presentations to diverse audiences.
- Proficiency in analyzing market data, sales metrics, and performance trends to inform strategic decision-making and optimize business development efforts.
- Ethical Conduct: Commitment to upholding ethical standards and regulatory compliance in all business dealings, ensuring transparency, integrity, and trustworthiness in client relationships.
Qualifications
- Bachelor’s degree in business or insurance related course
- Professional Insurance certification such as CII or COP is an added advantage.
- Experience in IPMI Employee Benefits is an added advantage.
- Proven track record of achieving and exceeding set targets.
Relevant Experience
- Minimum three (3) years experience in business development (Insurance/Financial services) with both corporate and/or individual customers.