Business Development Manager | AAR Insurance

Overall Purpose of the Job

Reporting to the Group Head of Distribution, the Business Development is responsible for overseeing the strategic direction, business development initiatives, operational activities, corporate governance, leadership, and culture within sales and distribution. This role requires strong expertise in business management and leadership to ensure the achievement of business objectives and the highest standards of performance within all market lines and products.

Key Responsibilities

• Strategy:
  • Develop and implement the strategic plan for the company, aligned with the overall corporate strategy.
  • Identify new business opportunities, market trends, and potential risks to drive growth and profitability.
  • Monitor industry developments, regulatory changes, and emerging market conditions to adjust strategies accordingly.
• Business Development:
  • Identify and pursue business development initiatives to expand the company’s client base, with a specific focus on general Insurance and high-net-worth segments.
  • Develop and maintain relationships with key insurance market stakeholders, including corporate clients, high-net-worth individuals, and institutional investors.
  • Collaborate with the marketing and sales teams to create targeted campaigns and promotional strategies to attract new clients.
  • Analyze market trends and competitor activities to identify opportunities for differentiation and competitive advantage.
  • Explore partnerships, joint ventures, and strategic alliances to enhance the division’s market presence and offerings.
  • Conduct market research to understand the evolving needs of corporate and high-net-worth clients, tailoring services and products accordingly.
• Client Relationship Management:
  • Establish strong and enduring relationships with corporate and high-net-worth clients, understanding their financial goals, risk tolerance, and preferences.
  • Regularly communicate with clients to provide updates on portfolio performance, market conditions, and investment strategies.
  • Collaborate with the client service team to address client inquiries, concerns, and requests promptly and effectively.
  • Organize client events, seminars, and forums to enhance engagement and strengthen relationships.
• Innovation and Product Development:
  • Drive innovation in product development by identifying opportunities to create Insurance solutions for corporate and high-net-worth individuals clients.
  • Collaborate with the product development team to design and introduce new products.
  • Ensure that the division remains at the forefront of industry trends and emerging technologies to provide innovative solutions.
• Corporate Governance (Regulatory and Compliance):
  • Ensure compliance with regulatory requirements, industry standards, and internal policies related to the Insurance Market.
  • Keep abreast of regulatory changes and communicate their impact on the company.
• Leadership and Culture:
  • Foster a culture of excellence, collaboration, and continuous improvement within the company.
  • Provide strong leadership to the team, setting clear goals, providing feedback, and promoting professional development.
  • Encourage a client-centric approach, ensuring high-quality service delivery and maintaining strong relationships with clients.
  • Promote ethical conduct, integrity, and accountability throughout the division.

Education, Experience & Competencies

• Bachelor’s in Commerce or Business-Related Degree from a recognized university.
• AIIK or ACII qualifications.
• At least 5 years of Practical Sales & Marketing or Business Relationship Management with proven performance track (Preferably in the insurance business).
• Ability to construct concise business cases and planning documentation essentials.
• Open, collaborative leadership style that promotes integrity and continuous improvement.
• Results oriented individual with demonstrated ability to promote and lead change.
• Excellent Presentation skills.