Business Development Associate

Position Scope

Job Title: Business Development Associate
Location: Nairobi, Kenya
Industry: Insurance

Job Summary:
We are seeking a dynamic and results-driven Business Development Associate on behalf of our client in the insurance industry. The successful candidate will play a pivotal role in managing intermediary accounts, identifying new business opportunities, supporting tender processes, and ensuring compliance with regulations.

Job Description

Key Responsibilities:

1.      Managing Intermediary Accounts:

• Oversee agents and brokers’ accounts, ensuring all aspects are managed effectively, from tenders to claims follow-up and business renewals.
• Coordinate and provide support for placement follow-ups and new business follow-ups.

2.      Tender Management:

• Identify new business opportunities, including tender adverts.
• Assist in the preparation and submission of tender documents, ensuring deadlines are met.
• Attend tender openings within Nairobi or as directed.
• Analyze tender results, including premiums, and communicate with the Business Development (BD) team.
• Maintain records of both successful and unsuccessful tenders, including a register of tenders and non-tender business prospects.

3.      Support in Business Development Operations:

• Ensure that all tender documents are completed, bound, and submitted in accordance with set timelines.
• Vet and activate new intermediary accounts while ensuring compliance with regulations.
• Maintain and update intermediary binder agreements.

4.      Financial and Operational Efficiency:

• Assist in processing incentive schedules and ensure the timely payment of incentives to brokers.
• Control business development expenses while adhering to internal controls and risk management procedures.

5.      Collaboration and Customer Service:

• Work closely with the BD team to meet business objectives.
• Ensure prompt responses to internal and external queries.
• Guide customers to ensure all business requirements are met.

6.      Reporting:

• Prepare detailed reports on activities and achievements for the Business Development Manager to inform decision-making.

Requirements

Requirements:

• Education: Bachelor’s degree in a business-related field or equivalent from a recognized institution. Progress on a Diploma in IIK/CII is an added advantage.
• Experience: Prior 4 years of experience in business development, preferably within the insurance industry, is desirable.
• Skills:
• Excellent organizational and communication skills.
• Strong attention to detail, particularly in preparing and submitting tender documents.
• Ability to work independently and manage time effectively.
• Strong negotiation and relationship management skills.
• Additional Requirements:
• Flexibility to work outside of regular business hours when necessary.
• Ability to prepare and present clear, accurate reports for decision-making.
• Ability to meet deadlines and manage multiple tasks effectively.

Key Performance Areas (KPAs):

1.      Revenue Generation:

• Achieve success in at least 3 tenders per quarter.
• Ensure intermediary accounts and tender processes are handled efficiently.

2.      Cost Efficiency:

• Control business development expenses in line with company budgets and internal controls.

3.      Compliance and Risk Management:

• Ensure compliance with regulatory requirements (e.g., intermediaries licensed by IRA).

4.      Customer Focus and Relationship Management:

• Build and maintain strong relationships with clients and intermediaries to ensure sustainable business development.

5.      Teamwork and Collaboration:

• Work collaboratively with the business development team to achieve business acquisition and growth goals.

Skills

• Skills: o Excellent organizational and communication skills. o Strong attention to detail, particularly in preparing and submitting tender documents. o Ability to work independently and manage time effectively. o Strong negotiation and relationship management skills