NIC Life Assurance Company Limited is a wholly owned subsidiary of NIC Holdings Limited. NIC Life Assurance was incorporated on 3rd March, 2014 and took over the Life insurance businesses of NIC in compliance with the legal requirement for separation of insurance businesses under the Insurance (Amendment) Act.
NIC Life is seeking to recruit a suitably qualified and experienced person to take up a position of Business Development Officer – Corporate.
Job Title:Business Development Officer – Corporate
Reports to : Chief Operations & Business Development Officer
Location : Head Office
Purpose : The Business Development Officer – Corporate is responsible for identifying, developing and managing corporate business opportunities to drive sustainable growth in NIC Life Assurance’s corporate portfolio. The role focuses on acquiring new corporate clients, developing strategic business relationships, managing key accounts and promoting the Company’s life assurance solutions, including Group Life, Group Credit Life, Employee Benefits and other corporate insurance products. The position is also responsible for achieving agreed premium income targets, strengthening client retention, identifying cross-selling opportunities and ensuring excellent customer relationship management while maintaining compliance with regulatory requirements and company policies..
Key Result Areas:
Duties and Obligations
You will be required to do the following
Business Development: Identify, pursue and convert new corporate business opportunities to grow NIC Life’s corporate portfolio and achieve agreed premium income targets.
Client Acquisition: Identify prospective corporate clients, prepare proposals, conduct presentations and negotiate business terms to secure new accounts.
Relationship Management: Develop and maintain strong relationships with corporate clients, brokers, intermediaries and other strategic business partners.
Portfolio Management: Manage assigned corporate accounts, monitor business performance, coordinate renewals and implement initiatives to improve client retention.
Product Promotion: Market and promote NIC Life’s corporate solutions, including Group Life, Group Credit Life, Group Personal Accident, Employee Benefits and other life assurance products.
Market Intelligence: Identify emerging market opportunities, monitor competitor activities and recommend strategies to strengthen NIC Life’s corporate market position.
Sales Performance: Develop and execute business plans, maintain an active sales pipeline and provide regular updates on prospects, conversions, premium income and business forecasts.
Cross-selling and Upselling: Identify opportunities to deepen existing client relationships through additional products, increased coverage and tailored insurance solutions.
Internal Coordination: Work closely with Underwriting, Operations, Claims, Finance and other departments to ensure timely quotations, policy issuance, premium collection and effective client service.
Compliance and Reporting: Ensure proper client documentation, adherence to regulatory requirements and company policies, and timely submission of business development reports.
Any Other Duties: Perform any other duties as may reasonably be assigned by Management in furtherance of the Company’s objectives.
Key Performance Indicators (KPIs)
A successful Business Development Officer – Corporate will be measured on:
Premium Income Growth: Achievement of agreed corporate Gross Written Premium (GWP) targets.
New Business Acquisition: Number and value of new corporate accounts successfully secured.
Portfolio Retention: Achievement of corporate policy renewal, client retention and persistency targets.
Sales Pipeline Management: Development and conversion of a healthy pipeline of qualified corporate prospects.
Client Relationship Management: Client satisfaction, relationship growth and effective management of assigned accounts.
Cross-selling and Upselling: Growth in business generated from existing corporate clients through additional products and coverage.
Premium Collection: Timely collection of premiums and reduction of outstanding corporate receivables.
Business Reporting: Timely submission of accurate sales reports, pipeline updates and business forecasts.
Business Quality and Compliance: Adherence to underwriting requirements, regulatory standards and company policies.
Job Qualifications and Experience:
Academic Qualifications
Bachelor’s Degree in Business Administration, Marketing, Sales, Insurance, Finance, Economics, Commerce, or a related field from a recognized institution.
A Diploma in any relevant field with proven sales management experience is an added advantage.
Professional Qualifications
Certificate of Proficiency (COP) in Insurance or willingness to obtain it within the stipulated period.
Additional qualifications in sales management, leadership, insurance, or financial services will be an added advantage.
Job skills and abilities:
Experience
Minimum of 3–5 years’ relevant experience in business development, corporate sales, relationship management or insurance, preferably within the life assurance industry.
Proven track record in acquiring and managing corporate clients and achieving sales and premium income targets.
Experience in preparing business proposals, conducting client presentations, negotiating commercial terms and closing business deals.
Demonstrated ability to manage corporate portfolios, drive renewals, retain clients and identify cross-selling opportunities.
Good understanding of life assurance products, corporate insurance solutions and the insurance regulatory environment.
Key Competencies and Skills
Strong business development, corporate sales and negotiation skills.
Excellent client relationship management and stakeholder engagement.
Ability to identify business opportunities and convert prospects into clients.
Strong presentation, communication and proposal development skills.
Good understanding of life assurance products and corporate insurance solutions.
Strong analytical, planning and problem-solving skills.
Ability to manage sales pipelines, meet targets and deliver results.
High levels of integrity, professionalism and customer focus.
We are an equal opportunity organization; both male and female candidates are encouraged to apply.
Job application procedure:
If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the email address below indicating on the subject of your email the job title. For example: Ref: Application for Business Development Officer – Corporate
