Account Executive

To grow market share by gaining, maintaining, growing, and retaining Commercial accounts in the Financial Services Sector. Understanding the South African Regulatory framework of the insurance/brokerage industry is essential, along with a focus on customer service excellence in a target-driven environment.

REPORTING LINE: Business Insurance Manager

MINIMUM REQUIREMENTS:

1. Matric Level 4
2. FETC in Short-term Insurance
3. Passed FAIS Regulatory Exam
4. Higher Certificate in Insurance
5. Post matric qualification is an advantage (BComm Risk/Accounting, BBA)

EXPERIENCE:

1. Junior Account Executive: Minimum 5 years’ short-term insurance with 3 of the 5 years in a commercial sales and service capacity.
2. Account Executive: Minimum 7 years’ short-term insurance with 5 of the 7 years in a commercial account servicing (Account Executive) and sales capacity.
3. Senior Account Executive: Minimum 10 years’ short-term insurance with 7 of the 10 years in a commercial account servicing (Account Executive) and sales capacity.
4. Experience in customer liaison; building and maintaining relationships.
5. Experience working in a Brokerage is preferred.

COMPETENCIES & SKILLS:

1. Business Acumen (understand the economic environment & identify viable financial opportunities)
2. Broking skills – medium to large commercial accounts
3. Influencing and negotiation
4. Computer Literacy
5. Communication
6. Delegation
7. Analytical Ability
8. Negotiation
9. Presentation
10. Decision making
11. Time management
12. Report Writing
13. Selling Ability to manage own work and outputs

KNOWLEDGE:

1. Insurance and brokerage industry and environment
2. Commercial insurance knowledge to at least an intermediate level on all Commercial classes.
3. Legal requirements of the insurance industry
4. Marketing and sales principles
5. Knowledge of products and services
6. Knowledge of underwriting criteria

PERSONAL ATTRIBUTES:

1. Assertiveness
2. Interpersonal effectiveness
3. Service excellence
4. Ability to effectively adapt to change
5. Attention to detail
6. Self-motivated
7. Enthusiastic
8. Result oriented / Deadline oriented
9. Professionalism
10. Ability to work under pressure
11. Work according to set policies and procedures
12. Target driven
13. Creative and innovative
14. Ability to work in a team
15. Ethical
16. Self-confident and visible

KEY PERFORMANCE AREA:

1. Maintain portfolio and attend to all client queries (revision/renewals, rate negotiations with insurers, amendments, cancellations, unpaid premiums).
2. Do up and cross selling of products.
3. Attend to audit lists regarding information captured into the system.
4. Minimise cancellations through regular and pro-active dealings with clients.
5. Assist clients with claims-related problems and report all deviations to management.
6. Service Clients in accordance with the Company Minimum Commercial Service Standards.
7. Growth and profitability: Retain, develop, and grow existing clients.
8. Provide after-sales service to ensure that the new business vests.
9. Identify opportunities for up/cross selling and write additional business.
10. Client liaison and regular networking - Identify opportunities and implement marketing and promotional activities.
11. Build relationships through regular contact, identifying critical decision makers with all stakeholders (clients, insurers, etc).
12. Client Communication - Keep clients informed of developments in the industry and market.
13. Client Service administration: Adhere to FAIS requirements and set company procedures.
14. Ensure that policies and endorsements are loaded onto the system.
15. Ensure that claims are registered and follow-up until claim is finalized.
16. Maintain renewal lists and ensure that renewal schedules are sent to clients.
17. Responsible for proactive underwriting and business administration - new, amendments, additions, renewals.
18. Ensure all communication with the client is in accordance with FAIS minimum standards.
19. General correspondence and e-mails to clients according to company standards.
20. Compile and submit reports on time to line manager as per set standard.
21. Accurate and prompt partner registration and ensure that payments are made.
22. Perform credit control.
23. Ensure that debit order information is updated and liaise with the bank.
24. Collect money from clients electronically (where applicable).
25. Advise relevant parties of unpaid items.
26. Ensure compliance with section 20 Buss (extension of credit).