Business Development Officer – Retention at Britam

Job Description

Job Summary

The Business Development Officer will be responsible for securing the renewal of all insurance policies, fostering strong, long-term relationships with existing clients, and driving revenue growth through portfolio management. This role involves managing the entire renewal process, handling client inquiries, negotiating terms, and implementing strategies to minimize churn.

Key Duties & Responsibilities

• Renewal Management & Strategy: Proactively manage the portfolio of existing corporate accounts, ensuring high renewal rates by initiating contact well before policy expiration.
• Relationship Management: Act as the primary point of contact for corporate clients, providing exceptional customer service, addressing concerns, and acting as an advocate for the client within the organization.
• Negotiation & Closing: Negotiate renewal terms, premiums, and coverage modifications with both clients and underwriters to ensure competitive, win-win outcomes.
• Retention Strategies: Analyze customer data to identify at-risk accounts, developing and implementing tailored retention initiatives (e.g., incentive offers, restructured policies) to prevent cancellations.
• Upselling/Cross-selling: Identify opportunities to cross-sell additional products or increase coverage limits to enhance the value of the portfolio.
• Performance Reporting: Track and report on key retention metrics (e.g., renewal rates, lapse rates) and provide insights on client behavior and competitor trends to management.
• Claims Support: Act as a liaison during the claims process, ensuring that client satisfaction remains high even during challenging situations
• Retention Rate (Percentage of business retained)
• Revenue Growth from Existing Clients (Cross-selling/Upselling)
• Customer Satisfaction Score (CSAT)
• Reduction in Cancellation/Lapse Rate

Educational Qualifications, Experience, & Skills Required

• Bachelor’s degree in business, Finance, Marketing, or related field.
• Diploma in Insurance Qualification will be an added advantage
• Knowledge in sales will be an added advantage
• Minimum: 2–4+ years of experience in corporate insurance sales, account management, or retention roles
• Demonstrated proficiency in computer/software packages, e.g., Microsoft Word, Excel, and PowerPoint, etc.
• Strong interpersonal skills and ability to work in a team-oriented and collaborative environment.
• A high sales drive and a strong will to succeed. 
• Confident, articulate, and with strong communication skills. 
• Well-groomed, presentable, and strong interpersonal skills.