Consultant wanted immediately: APPLY HERE

Consultant wanted immediately: APPLY HERE

Constantia Kloof, Gauteng

Wealth Sales & Distribution

Job Purpose:
The primary function of a Renewal and Retentions Consultant is to ensure that all policies due for renewal are investigated, validated and renewed within the agreed SLA and that retention is attempted on all policies up for cancellation in order to advise client’s in a way that their needs are met through the renewal of their policies whilst always exploring the opportunity to upsell. Also to provide a high level of service at renewal stage to our internal stakeholders relating to the maintenance of the existing customer base.

Key Responsibilities/Accountabilities:

Analyse, capture, follow up on insurance renewal process end to end
Validate and capture on all renewal policies by reviewing all sections of the policy. For example: rates, premiums, clauses, memo’s, sums insured, claims history, surveys etc.;
Check valuations compared to the replacement value and the interest of Standard Bank. As this is a Property Finance insurance requirement, which ensures the Banks assets are adequately covered;
Capturing leads correctly and confirm all in order to provide accurate financial analysis for the MIS reports;
Identifies and actions opportunities for cross-selling through a conversation with the client and determining the need to be covered;
Call client to evaluate all business occupations per policy, as this directly effects policy premium, cover and risk covered or not;
Apply underwriting knowledge and principles on rates and risks or not. For example: Understand client contents and business to understand cover and risk involved;
Grow existing client policy or revenue base, by reviewing client’s items covered over and above existing cover;
Adhere to underwriting rules and business procedures;
Assist Account Executives, Technical Brokers, Underwriters and Customers (both internal and external) with information during policy renewals i.e. sourcing of information needed or of confidential info held on system;
Attend timeously and accurately to all renewals, amendments and cancellation as per client request/s and in accordance to SBIB system requirements;
Obtain quotes from different insurers and negotiate best possible rates in order to retain the clients;
Send out renewal terms to the client 6 weeks prior to renewal date;
Diarise, after 1 week ensure to do two telephonic follow ups with clients;
Confirm telephonic conversations via email;
Send out agreed renewal confirmation letter, following Renewal Schedule, Useful terms and phrases, debit Note, Disclosure Notice, Sasria, and Invoice as per the FAIS requirements;
Up sell on all policies up for renewal especially single asset policies;
Noting interest of bond holders (to always ensure that the interest of Standard bank Property Finance is noted);
Update Renewals progress on progress sheet;
Update Renewals progress on various systems for tracking and MIS purposes;
Validate and capture accurately retention requests within SLA.
Service and retain clients via retention process
Exercise dynamic and innovative retention methods in order to retain our clients. For example: if premium is a problem for client, would shop around for better premium;
Validate policy for retained client is captured timeously and accurately, in order to meet SBIB requirements i.e. system cut-offs which effect debit orders;
Analyse client need, identify appropriate product and action opportunities for cross-selling and up-selling;
Evaluate all business occupations, applying underwriting expertise on rates and acceptable risks or not;
Grow existing client base;
Adhere to underwriter’s rules and business procedures;
Negotiate required changes with Account Executives, Underwriters, Technical Brokers and Customers where required;
Contact clients telephonically which trigger on ‘frozen report’ (defaulted on premium). Find a solution and way forward for the policy to continue.

Validate the quality of all renewal clients

Validate that the policy has been accurately captured ito updates or amendments on renewals;
Validate that the capturing of confidential comments/history notes;
Validate and correct (in need) that proper record-keeping procedures are adhered to with reference to all renewals and retentions in line with the FAIS requirements;
Validate and correct banking details, to prevent returned debits;
Validate and correct all sums insured are accurate;
Validate the documentation from underwriters and account executives are correct and complete as per legislative requirements;
Validate the quality of work is of high standard i.e. Always update the customer’s details, when necessary action admin requests, diarise and follow up;
Record calls through ‘call tracking’ or telephonic communications;
Record retention attempts (successful or not);
File copies of all correspondence for future reference as per the FAIS requirements;
Request for premium confirmation from the accounts department and notify the Account Executives, Technical Brokers and clients of the outstanding premiums;
Scrutinise renewal documents to ensure the information is correct before sending any documents to the client to avoid future queries, cancellations and PI claims;
Log Number of policies renewed and cancelled effectively and correctly;
Log a lead for every renewal worked on;
Log and update Number of service requests resolved within agreed milestones/service level agreements;
Resolve service requests within minimal hand-offs;
Capture all notes pertaining to changes on the events log.

Service clients end to end from and insurance client service perspective.

Service our customers with the Customer Experience Survey criteria set out;
Promote a professional image when dealing with Account Executives, Technical Brokers, Property Finance, Underwriters and customers (both internal and external) in accordance with the corporate values of SBSA;
Provide all customers with feedback on reclassification of service requests, outstanding documentation and telephonic resolutions according to customer relationship standards;
Review that products and services meet with the client’s requirements;
Analyse best rates are given on renewals once received from the underwriters (both internal and external) and if not, negotiate a better rate for the customer;
Assist Account Executives, Technical Brokers, Underwriters and customers (both internal and external) with queries and provide accurate and efficient feedback within service level agreement; Provide accurate information to reduce turnaround times and provide better customer service;
Reduce customer complaints by interacting with relevant divisions and inform customer and or other relating entities on the progress of the query;
Request or send updated schedule clients via post and email;
Drive email conversion to ensure customers receive their documents and working towards a paperless environment;
Provide a high level of satisfaction by giving effective quality service to all our customers by explaining information to customer’s e.g. Pro-rate premiums, debit procedures, etc.;
Live and drive a vision and culture of customer centricity and service delivery ensuring a constant positive customer experience.
Record all tasks, which contributes towards overall reporting.
Identify and record errors from stakeholders on Serena, Maven diary and Tial systems in order to improve workflow process;
Record-keeping procedures are adhered to with reference to all quotes and retentions in line with the FAIS requirements;
Record calls through ‘call tracking’ or telephonic communications;
Record retention attempts (successful or not);
Apply record of advice (ROA) where applicable;
Daily weekly and monthly written report feedback to the supervisor on all renewal/retentions finalised

Action and resolve all client queries

Log all new service requests for renewals, retentions, and delays from stakeholders correctly;
Action all service requests in personal worklists within agreed timelines;
Make immediate decisions in query resolution with the servicing of clients, renewals and retentions;
Resolve day-to-day mail and queries are attended to in 48 hours;
Send fulfilment (posting, faxing and emailing of documents) as requested and as per the FAIS regulations;
Attend to administration such as correspondence, writing of letters, and retrieval of documents on a daily basis. Maintain excellent quality of correspondence sent to clients;
Attend accurately and efficiently to all renewals, amendments, cancellations, and retention

System implementation/workflow

Identification and recording of errors from stakeholders in order to improve workflow process;
Assist with testing and feedback on the implementation of systems in the team;
Assist and follow with the implementation of processes and procedures in the team;
Monitor the system flow and procedures and identify the areas that need new systems and identify the systems required;
Complete correspondence has a first-time resolution with Account Executives, Technical Brokers, Property Finance, Underwriters and customers (both internal and external) to ensure quality documentation and correspondence to clients;

Identify risks:

Identify potential risk exposure in accordance with underwriter rules, by consulting with managers or underwriters, contact customers telephonically and or attend to written correspondence as communication regarding underwriting rules e.g. underinsurance, multi claimants, dual insurance and repudiations as and when required;
Communicate to customers on property-related risks e.g. lack of maintenance, defective workmanship, defects in design, wear and tear, gradual deterioration, non-compliance to building regulations and pre-existing damage.
Legislative Prohibitions must be adhered to.
Adhere to all the financial advisory and intermediary Services Act No. 37 of 2002, (the Act) in order to remain as a FAIS Representative of a licensed Financial Service Provider;
Adhere to AML legislative requirements.

Preferred Qualification and Experience
Matric Relevant FAIS Qualification RE5 Product knowledge
RE Exam; FAIS Categories – 1.6
FAIS Qualification – 160 credits in commercial line
Higher Certification in Short Term Insurance
Knowledge/Technical Skills/Expertise
At least 2 years’ experience in Short-Term Insurance
Good communication skills/ people and negotiating skills
Computer literate – MS Office – Excel / Word
Telephone skills
Problem-solving. Apply Now

Source: jobs365