Business Development Officer - Corporate Life

Lets Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

• 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

• 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

• 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

• 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

• 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

• 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.

• 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

• Business Development
• Employee Benefits Knowledge
• Relationship Management
• Negotiation and Influencing
• Commercial Acumen
• Communication and Presentation

• 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

• 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

• 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

The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

The Old Mutual Story!