Account Executive

Job Description

Account Executive – Dealership ***ONLY Emiratis with family book***

GIG Gulf is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 13 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 3.83 billion and $69 million net profit for the year 2023. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.

GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.

GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way.

Job purpose:

• To develop and maintain business relationships with bancassurance and new partnerships, and support with routine management of the allocated account.
• Responsible for incremental business with special consideration on preferred segment of business without compromising on the profitability target.
• · Work under the guidance of the Development Manager and is accountable for achieving an annual sales target across a pre-defined range of products through either single or multiple sales channels as defined by the requirements of the company’s sales strategy
• Engage and build strong rapport with the underwriting teams to ensure all enquiries are accompanied by a full and complete presentation of underwriting information, competitor’s rates/terms/conditions if available and any other commercial information for the consideration of underwriters.
• Ensure insurance premium is collected in line with the Company’s terms of business. Responsible to liaise with credit control teams to minimize outstanding debt, where applicable.
• Conducts regular training & refreshers to ensure the banks meets the minimum trainings requirements set forth by Central Bank of UAE

Key Responsibilities:

• Achieving annual sales targets through Bancassurance and new partnerships as defined by the requirements of the Department’s sales strategy.
• Developing and maintaining excellent relations with Bancassurance and new partnerships where the consequence of poor customer care could have a significant impact on the achievement of sales targets. The role will provide high levels of support as required ensuring customer satisfaction all the time.
• Provide market intel on competitors rates and campaigns in the market
• Manage New business/Renewal pre and post sales activities – discounts/follow ups, Document verification & Send Payment links, Issue policy & email clients, Cancellations and Endorsements for the banks
• Required to have excellent visibility over the daily activities and performance of bancassurance and new partnerships, providing daily reports, as agreed with the Manager, on sales and Performance objectives.
• Coordination with Internal teams for new campaigns, complaints, escalations, product advise, claims movement which is sourced through bancassurance and revert within TATs
• Preparation of renewal submissions in respect of corporate and other small to medium sized accounts after detailed review of terms, wordings, risk improvement recommendations and past claims experience.
• Prepares and analyzes sales forecast & results reports and presentations including analyses of variances vs. budgeted forecasts for the intermediate team.

Operational & Technical Responsibilities:

• Sound experience of administrative systems, processes, underwriting and risk assessment principles of personal lines products.
• Expertise in managing Bancassurance and new partnerships expectations.
• Skilled in terms of preparing MIS reports, data extraction & consolidation and statistical analysis and competent in Microsoft packages; (especially Excel & PowerPoint).
• Knowledge of Retail P&C business and relationship building techniques.
• Knowledge on competitor’s products /offering and rates.
• Good knowledge of customer service, negotiation skills and sales.

Essential Requirements:

• Tertiary education is required
• Good interpersonal skills with effective communication skills.
• Works effectively with the internal stakeholders to maximize results.
• High Customer Service orientation with good relationship building skills. Smart and pro-active to interact with a sales focused personality.
• Accountable for proactively prospecting new partnerships.