Chief Agency Officer at Prudential Zenith Life Insurance

​​​​​​​Role Summary:

• The incumbent provides end-to-end Agency management, providing leadership, direction, and resources to the Agency Distribution (AD) division and is accountable for the delivery of the Company's strategic and financial goals for the Agency Distribution channel. Ensuring sustainable sales or revenue growth by developing and implementing growth strategies that are aligned to the Company's strategic and financial goals, through agency segmentation approach. Ensure the full implementation of the agency entrepreneurial model just as we have in Asia and our markets in Africa.
• Responsible for building and managing a high performing agency team and partners to achieve sales targets. Develop and maintain strong relationships with key agencies, provide training and support to agency partners, and implement strategies to drive growth and profitability. In this capacity, the incumbent establishes and maintains long term business relationships with key associations, strategic partners and regulators.

Principal Accountabilities/ Responsibilities:

• Articulates the manpower planning for the Agency sales channel, develops strategy to drive engagement towards targeted sales interception and delivery.
• Grow Agency manpower to sustain the future growth in the Company's Conventional Insurance Business and Agency Force. Identify, penetrate, and develop the untapped markets for the Conventional Insurance Business. Coordinates and strengthens the positioning and proposition of Prudential's Agency Force in the market.
• Takes initiatives to establish relationships with key personnel within the industry or market. Maintain a stable knowledge base of the Insurance industry, competitors, and regulatory activity. Responsible for balancing all risks and internal controls with business decisions including reporting related risk issues to the appropriate forum.
• Develop and spearhead growth strategies to transform the Agency and meet the Company's strategic and financial goals. Also, drive and spearhead the Future-ready Agency and PRU MDRT direction, thus building our Agency of the future and transforming the Agency business to the next level.
• Drives sustainable sales growth through MAPA strategies & Agency Segmentation - Driving growth in Manpower, Activity Ratio, Productivity and Average Case Size, for specific Agency segments.
• Conducts business analysis, performance analysis, and competitive analysis. To track and review actual Agency sales, recruitment, MAPA, and outcomes of strategic initiatives, weighing them against the set targets and business KPIs to determine the effectiveness of sales initiatives. Identify gaps, create measures to advance productivity. • Responsible for negotiating Agency sales and business development initiatives or policies, including Agency agreements, compensation, benefits, structure, partnerships, opportunities, etc.
• Maintains a stable knowledge base of the Insurance industry. competitors, and regulatory activity. Keep up with trends and best practices, which give the Company a competitive edge, and keep the business at par with some of the biggest players in the market.

Requirements:

Educational/Professional Qualifications:

• Minimum of B.Sc. degree in a related course area in a recognized University.
• M.Sc/MBA in related field will be an added advantage.
• Minimum of 10 years' work experience in life insurance agency distribution management and operations, banking, or any financial services & 5 years should be in Senior Management. Experience in agency is an added advantage.
• A professional certificate in Insurance. Associate or Fellow member of relevant professional qualifications, such as Chartered Insurance Institute of Nigeria (CIIN); ACII, etc.
• A good working knowledge of relevant Life Insurance software programs and Microsoft applications such as MS Office, Excel, Word etc.

Key Attributes & Skills (Required):

• High level understanding of life insurance industry, products and regulations guiding retail business operations Analytical and excellent numerical skills.
• Impact Driven: Developing/assessing/evaluating/monitoring processes and systems.
• Leadership agility and sound business judgement.
• Project management experience
• Ability and experience managing large teams
• Collaborative, inclusive and engaging management style.
• Customer-oriented and ability to engage seamlessly with intermediaries and clients.
• Ability to coach, mentor and develop others.
• Accountability, strategic thinker and result driven.
• Excellent communication skills (verbal & written), diplomacy, persuasion, tact and discretion.
• Strong business acumen with high integrity.
• Able to champion and uphold excellence, balanced and independent judgement.
• Knowledge of strategic planning and portfolio management.
• Excellent awareness of people and organisational design
• Ability to consistently uphold the Prudential core values (ie. PruWay)